Biofuels and Sustainable Energy Development in Brazil

Through the assessment of three decades of the Alcohol Program in Brazil, the paper shows that adequate public policies regarding biomass production can deliver direct benefits like energy security improvement, foreign exchange savings, and local employment generation, reduced urban air pollution and avoided CO(2) emissions. Moreover, the paper shows that Brazilian produced ethanol has faced economies of scale, technical progress and productivity gains and is no longer dependent on subsidies to be competitive. The paper also examines the potential in Brazil for fostering other biofuels, namely biodiesel obtained from vegetable oils, as well as their implications on sustainable energy development. (C) 2011 Elsevier Ltd. All rights reserved.

Shedding light on technological development in Brazil

We try to shed some light oil the question of wily technology-intensive businesses often fail in less-developed countries and under what circumstances they are likely to be a Success from the perspective of both domestic and export markets. The answers were drawn from a set of empirical evidences from Brazilian firms applying photonics technologies. Sonic of the issues faced by them are related to the question of state versus private initiative, entering traditional versus niche market, and technology transfer versus product development management. In overall, we concluded that weakness of the institutions and inadequacy of social and organizational demography play a key role in explaining to a large extent wily countries differ in technological development and diffusion. In this context, we point out obstacles, which must be removed in order to make public policies and firm`s achievements more efficient. (C) 2008 Elsevier Ltd. All rights reserved.

Petroleum royalties and regional development in Brazil: The economic growth of recipient towns

In 1997, Brazil approved law n(cr) 9478, establishing new rules for sharing petroleum royalties with Brazilian municipalities. The goal of this paper is to evaluate whether royalties distributed under the new law have contributed for the development of benefited municipalities. For that the difference-indifferences estimator (diff-in-diff) is used, which compares the evolution of the economic product into the municipality affected by the new law with the unaffected ones, by exploring the new legislation as an exogenous change. The data refer to the municipal gross domestic product (GDP) growth rate before and after the event. Results are surprising, showing that royalty receivers grew less than municipalities that did not receive such resources. The difference is small but statistically significant. In general, an increase of one real in royalties per capita reduces the growth rate of the municipal product in 0.002 percentile points. (C) 2009 Elsevier Ltd. All rights reserved.

Expenditures, investment and financing for sustainable development in Brazil

Includes bibliography

The external crisis, adjustment policies and agricultural development in Brazil

Includes bibliography

The ecopolitics of development in Brazil

Includes bibliography

An overview of social development in Brazil

Includes bibliography

Education and development in Brazil, 1995-2000

Includes bibliography

Susceptibility of helminth species from horses against different chemical compounds in Brazil

By means of parasitological necropsies, the present study aimed to evaluate, in six experiments, the degree of susceptibility or resistance of different helminth species which naturally infect horses to ivermectin 0.2mg/kg, abamectin 0.2mg/kg, moxidectin 0.4mg/kg, trichlorfon 35mg/kg, ivermectin 0.2mg/kg+praziquantel 2.5mg/kg, abamectin 0.2mg/kg+praziquantel 2.5mg/kg and ivermectin 0.2mg/kg+6.6 mg/kg pyrantel. At experimental day zero, the horses were allocated to treatment groups based on average counts of strongylid eggs per gram of feces (EPG) obtained on days -3, -2 and -1. Oxyuris sp. infections were confirmed as positive or negative. All the animals in the six experiments were naturally infected by this helminth species. Each group (control or treated) consisted of six animals. All the assessed Habronema muscae populations analyzed were susceptible to ivermectin, abamectin and moxidectin. Of the six Trichostrongylus axei populations, four were susceptible to ivermectin, abamectin, moxidectin, trichlorfon and ivermectin+praziquantel, and two were resistant to abamectin+praziquantel and ivermectin+pyrantel. Both Strongyloides westeri populations analyzed were susceptible to ivermectin, abamectin, moxidectin and abamectin+praziquantel. For O. equi, resistance was found in four different populations treated with ivermectin, abamectin, moxidectin, trichlorfon and ivermectin+praziquantel. Only combinations of abamectin+praziquantel and ivermectin+pyrantel were effective against this parasite species. All the large strongyles diagnosed in the present study (Strongyus edentatus, Strongyus vulgaris and Triodontophorus serratus) were susceptible to all the chemicals tested, with the exception of trichlorfon. Of the Cyathostominae populations, one was diagnosed as resistant to ivermectin and another to trichlorfon. The remaining populations from this nematode group were considered to be sensitive to ivermectin, abamectin, moxidectin, ivermectin+praziquantel, abamectin+praziquantel and ivermectin+pyrantel. New studies should be performed in different regions to evaluate the efficacy of trichlorfon in others field populations of helminthes.

The value of local partners in Brazil: the effects of ownership clusters and business group membership on firm value in emerging markets

Este estudo analisa como a classe de acionistas afeta o valor das empresas brasileiras listadas na bolsa de valores no ponto de vista da governança corporativa. O trabalho examina a interação entre o valor das empresas e cinco tipos de concentrações acionárias comumente presente em mercados emergentes: famílias, agentes públicos, investidores estrangeiros, executivos e investidores financeiros nacionais. A análise empírica demonstra que o mix e a concentração de participação acionária afeta significativamente o valor das empresas. Utilizando uma compilação única de dados em painel de 2004 a 2008, a presente pesquisa também desenvolve hipóteses sobre o efeito da participação em grupos econômicos para o valor das empresas. A investigação encontra evidências de que, apesar de sua importância para o desenvolvimento de empresas brasileiras, o capital familiar, instituições públicas, e investidores estrangeiros estão cedendo lugar a monitores mais especializados e menos concentrados, como executivos e instituições financeiras nacionais. Estes resultados indicam que a governança corporativa no Brasil pode estar alcançando níveis de maturidade mais elevados. Adicionalmente, apesar de não haver indicação da existência de correlação entre a participação em grupos econômicos e o valor das empresas, os resultados indicam que a presença de um tipo específico de acionista em uma empresa do grupo facilita investimentos futuros desta classe de acionista em outras empresas do mesmo grupo, sinalizando que os interesses acionários são provavelmente perpetuados dentro de uma mesma rede de empresas. Finalmente, a pesquisa demonstra que enquanto o capital familiar prefere investir em empresas com ativa mobilidade do capital, investidores internacionais e instituições públicas procuram investimentos em equity com menor mobilidade de capital, o que lhes garante mais transparência com relação ao uso dos recursos e fundos das empresas.

An essay on private equity: the history and fundamentals of fundraising in Brazil

O impacto positivo dos investimentos de Private Equity e Venture Capital (PE/VC) na economia e no mercado de capitais está amplamente documentado pela literatura acadêmica internacional. Nos últimos 40 anos, diversos autores têm estudado a influência desta classe de ativos na criação, no desenvolvimento e na transformação de milhares de empresas ao redor do mundo, especialmente nos Estados Unidos. Entretanto, os estudos sobre os determinantes da captação de recursos de PE/VC têm se desenvolvido apenas mais recentemente, e seus resultados estão longe de ser uma unanimidade. No Brasil, a pesquisa sobre a indústria de PE/VC ainda é escassa. Embora a indústria local venha crescendo rapidamente desde 2006, tendo alcançado US$36,1 bilhões em capital comprometido em 2009, ainda não há estudos sobre as variáveis que influenciam na alocação de capital pelos investidores nesta modalidade de investimento no Brazil. Entender esta dinâmica é importante para o equilíbrio e a eficiência de mercado. Baseado no trabalho de Gompers e Lerner (1998) sobre os determinantes da indústria de PE/VC nos Estados Unidos, este trabalho contribui com a literatura de PE/VC ao: (i) revisitar o começo desta indústria no Brasil; e (ii) identificar quais as variáveis influenciam no desenvolvimento da indústria de PE/VC local. Os resultados deste estudo contribuem para o desenvolvimento acadêmico da indústria de PE/VC no Brasil. Além disso, as discussões aqui apresentadas poderão impactar outras áreas de estudo que são permeadas pelo tema, tais como Gestão de Investimentos, Governança Corporativa, Empreendedorismo e Estratégia. Profissionais de mercado também deverão se interessar no trabalho. As discussões sobre a história e os fundamentos da indústria fornecem aos investidores, empreendedores, gestores de investimentos e formuladores de políticas públicas, entre outros, um melhor entendimento sobre como o ecossistema de PE/VC funciona no Brasil.

Prevalence of orofacial clefts and social factors in Brazil

RODRIGUES, Katamara et al. Prevalence of orofacial clefts and social factors in Brazil. Brazilian oral research, v.23, n. 1, p. 38-42, 2009.Disponivel em: . Acesso em: 04 out. 2010.