Latin American youth between development and crisis

Includes bibliography

Crisis y desarrollo: presente y futuro de América Latina y el Caribe. Vol 1: Transformación y crisis: América Latina y el Caribe 1950-1984 = Crisis and development: the present situation and future prospects of Latin America and the Caribbean. Vol 1: Change and crisis: Latin America and the Caribbean 1950-1984

Incluye Bibliografía

Brazil and Turkey, a comparative analysis of both countries' economic development and institutional design from the Great Depression to the early 21st century

Apos uma década de rápido crescimento econômico na primeira década do século 21, Brasil e Turquia foram considerados duas das economias emergentes mais dinâmicas e promissoras. No entanto, vários sinais de dificuldades econômicas e tensões políticas reapareceram recentemente e simultaneamente nos dois países. Acreditamos que esses sinais e a sua simultaneidade podem ser entendidos melhor com um olhar retrospectivo sobre a história econômica dos dois países, que revela ser surpreendentemente paralela. Numa primeira parte, empreendemos uma comparação abrangente da história econômica brasileira e turca para mostrar as numerosas similaridades entre os desafios de política econômica que os dois países enfrentaram, assim como entre as respostas que eles lhes deram desde a virada da Grande Depressão até a primeira década do século 21. Essas escolhas de política econômica comuns dão forma a uma trajetória de desenvolvimento notavelmente análoga, caracterizada primeiro pela adoção do modelo de industrialização por substituição das importações (ISI) no contexto da recessão mundial dos anos 1930; depois pela intensificação e crise final desse modelo nos anos 1980; e finalmente por duas décadas de estabilização e transição para um modelo econômico mais liberal. Numa segunda parte, o desenvolvimento das instituições econômicas e políticas, assim como da economia política subjacente nos dois países, são analisados comparativamente a fim de prover alguns elementos de explicação do paralelo observado na primeira parte. Sustentamos que o marco institucional estabelecido nos dois países durante esse período também têm varias características fundamentais em comum e contribui a explicar as escolhas de política econômica e as performances econômicas comparáveis, detalhadas na primeira parte. Este estudo aborda elementos do contexto histórico úteis para compreender a situação econômica e política atual nos dois países. Potencialmente também constitui uma tentativa de considerar as economias emergentes numa perspectiva histórica e comparativa mais ampla para entender melhor as suas fraquezas institucionais e adotar um olhar mais equilibrado sobre seu potencial econômico.

Financing for development and middle income-countries: new challenges

Spanish version avalilable at the Library

ILPES: inserción externa, desarrollo y planificación" = ILPES: "external insertion, development and planning""

Analiza la evolución de la posición relativa de América Latina y el Caribe en el contexto internacional; los principales fenómenos del desarrollo contemporáneo que condicionarán su futuro; la vitalidad de la empresa productiva como recurso estratégico para las políticas de reinserción externa; la crisis fiscal y sus vínculos con la situación externa. Se hace referencia al papel que los organismos nacionales de planificación pueden desempeñar en apoyo de nuevas políticas de reinserción externa.

Financial Development and Economic Growth: Time Series Evidence from Albania

The main objective of this thesis is to explore the short and long run causality patterns in the finance – growth nexus and finance-growth-trade nexus before and after the global financial crisis, in the case of Albania. To this end we use quarterly data on real GDP, 13 proxy measures for financial development and the trade openness indicator for the period 1998Q1 – 2013Q2 and 1998Q1-2008Q3. Causality patterns will be explored in a VAR-VECM framework. For this purpose we will proceed as follows: (i) testing for the integration order of the variables; (ii) cointegration analysis and (iii) performing Granger causality tests in a VAR-VECM framework. In the finance-growth nexus, empirical evidence suggests for a positive long run relationship between finance and economic growth, with causality running from financial development to economic growth. The global financial crisis seems to have not affected the causality direction in the finance and growth nexus, thus supporting the finance led growth hypothesis in the long run in the case of Albania. In the finance-growth-trade openness nexus, we found evidence for a positive long run relationship the variables, with causality direction depending on the proxy used for financial development. When the pre-crisis sample is considered, we find evidence for causality running from financial development and trade openness to economic growth. The global financial crisis seems to have affected somewhat the causality direction in the finance-growth-trade nexus, which has become sensible to the proxy used for financial development. On the short run, empirical evidence suggests for a clear unidirectional relationship between finance and growth, with causality mostly running from economic growth to financial development. When we consider the per-crisis sub sample results are mixed, depending on the proxy used for financial development. The same results are confirmed when trade openness is taken into account.

The impact of financial development and market conditions on investment-cash flow sensitivity: global evidence

In this study, we analyze the impact of financial development and market conditions on investment-cash flow sensitivity during the 2006-2014 for 76 countries. First, the results show a relationship between investment-cash flow sensitivity and an index of financial development and its components. Second, 68 countries are affected by the 2008-2009 financial crisis, but only 16 countries exhibit a higher investment-cash flow sensitivity during the crisis. Third, investment-cash flow sensitivity is lower in countries with a larger primary debt market, while the size of the primary equity market has no impact. Finally, analyzing investment-cash flow sensitivity over time, we find lower sensitivity during years associated with higher primary debt market activity.

The recent development and performance of ethical investments

In this chapter, we assess the recent development and performance of ethical investments around the world. Ethical investments include both socially responsible investments (following Environmental, Social and Governance criteria) and faith-based investments (following religious principles). After presenting the development of each type of funds in a historical context, we analyse their ethical screening process, highlighting similarities and differences across funds and regions. This leads us to investigate their characteristics in terms of return and risk, and finally evaluate their historical performance using various risk-adjusted performance measures on a small sample of US funds. Hence we are able to not only compare the performance of each fund with each other and with traditional investments, but also assess their relative resilience to the 2007-08 financial crisis.

Work, Professional Development And Teaching Commitment: Deconstructing Meanings

The paper we present is part of the research project "The professional identity of teacher studies", that we are development for last 3 years. The third phase of this research put the focus on the experience of job placement of novel teachers, graduated no more than 5 years. We work with focal groups and professional experience and teacher education accounts of teachers implied in this research. Also, for any teachers, we do biographical interviews to deepen on processes of construction of professional identity. In this paper we present the Ana Belen History, a female teacher of pre-school education with an experience of 4 years in school, working in a urban school with students in risk of exclusion. This school have a educative project, commitment with the neighbourhood, joint with the community and other social groups. Ana Belen story, from professional perspective, is linked with the social politic and educational commitment of this school. Our interest is focused in the comprehension of professional identity that Ana Belen has gone forging along her personal story and how her education and job placement has contributed for it. Also we are interested in knowing how early professional experiences have influenced in her professional development as teacher. Specifically we ask ourselves about what influence have for her professional identity, that her career starts in this particular school. In consequence, this paper leads us to question the current teacher education model. In particular we are interested on the kind of professional experience that have place and, so, the kinds of commitments that enables. We understand that frameworks in which professional education and experience have place are relevant to enable more or less transformer understandings about teaching. From conceptual perspective this paper adopts a socio-critical point of view (Gergen, 1985; Kincheloe, 2001; Wenger, 1988, etc.). We understand that teaching has to be analysing according work contexts and personal stories of teachers, because we face processes historical and collective building. Teaching is the result of action of their actors, over time, and in specific stage. So, with this research we intend to break with the old gap between pre and in-service education. We think that both of them are part of the same process and are formed according similar logical; although scenes change. We understand that they are part of a continuous process in which is giving sense to different and complex settings where teaching profession is built, but they are not differenced and independent stages. The teacher work, so, is subject to particular conditions, generated from such different fields as institutional, corporative, cultural, social, political, moral, etc. It displays a kaleidoscopic view on space, time, context, ... These are the axis in which the teaching is formed, from the complexity and heterogeneity. How this complexity is articulated results in different ways to face the teacher work, according different personal and professional stories. The teacher acts with subjects in instituted contexts from relationships he has with them, which gives a situated and contingent character. But, these contexts are strongly structured and ruled according centralized and generalized positions; which is, at the very least, paradoxical. Possibly, from our point of view, same of the crisis of teaching have to explain from this paradoxical perspective and the conflict, which characterize this job (Rivas, Leite y Cortés, 2011)