Suchergebnisse

Having just completed its second consecutive "lost decade", the Venezuelan case confirms that there are no short cuts to sound political economic management in the era of high capital mobility and securitized capital flows. The maintenance of a muddling-through exchange rate strategy has triumphed, at least for the time being, and enabled an elite executive-level coalition to prevail in pursuing a less than optimal macroeconomic policy. The author argues that Venezuela has avoided a full-blown Mexican or Brazilian-style devaluation by virtue of the Central Bank's ability to effectively manage the exchange rate. (Rev Econ Pol/DÜI)

A crise financeira não deveria chegar à América Latina, segundo a maioria dos economistas e governantes: o conjunto de indicadores de vulnerabilidade melhorou na maior parte dessas economias. No entanto, ela chegou e, à medida que os dias passam, anuncia-se cada vez mais severa. Os indicadores de vulnerabilidade, portanto, não são suficientes para estabelecer prognósticos confiáveis. É necessário combiná-los com indicadores de fragilidade mais confiáveis como a apreciação da taxa cambial, as desigualdades mais elevadas. Quanto piores forem esses indicadores, mais difícil será resistir à crise, e vice-versa. Como a crise nos países desenvolvidos adquiriu um caráter sistêmico e os indicadores de fragilidade não são muito bons, suas repercussões serão consideráveis nessas economias emergentes, apesar de indicadores de vulnerabilidade terem apresentado melhoras. ; Most economists and government leaders stated that the crisis was not going to reach Latin America; the indicators of vulnerability have improved in most of these economies. However, the crisis did reach the region and is looking increasingly severe as the days go by. The indicators of economic vulnerability alone cannot, therefore, establish reliable forecasts. More reliable indicators such as exchange rate appreciation and other high inequalities must also be taken into account. The worse these indicators are, the more difficult it is not to fall into the crisis, and vice-versa. In developed countries, the crisis has taken on a systematic character and the signs of fragility are worrying. Therefore, despite an improvement in the indicators of economic vulnerability, the crisis will have significant repercussions in emerging economies.

This article traces the ways in which political, economic, domestic, and international factors converged to provoke a massive financial crisis in Mexico in 1994/5, as well as its consequences for future reform efforts. The author argues that the ruling PRI party and international investors were equally adamant in defending the anchored exchange rate. However, in attempting to appease both domestic and foreign interests, the Salinas administration lost control of the macroeconomic fundamentals. While the combination of a massive multilateral loan and the shift to a floating exchange rate paved the way for Mexico's rapid economic recovery, a main legacy of the crisis was the political demise of the PRI. (Rev Econ Pol/DÜI)

Routes of the Brazilian financial liberalization. This paper describes the most recent change in the rules of domestic exchange market and emphasizes/explores their consequences to Brazilian macroeconomic. (Rev Econ Polít/GIGA)

Recent integration efforts have been hampered by the inconsistency of macroeconomic policies. In this paper a model of shared sovereignty is discussed. Special emphasis is given to the exchange rate as a means to achieve macroeconomic stability

Gonçalves, Carlos Eduardo Soares: Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us? - S. 29-35. Palley, Thomas: Escaping the dept constraint on growth: a suggested monetary policy for Brazil. - S. 36-49 Maria Rita Loureiro e Fernando Luiz Abrucio: Política e reformas fiscais no Brasil recente. - S. 50-72

O Primeiro Programa Internacional de Capacitação para Enfermeiros no Estudo do Fenômeno das Drogas nas Américas é resultado de uma parceria entre a Comissão Interamericana para o Controle do Abuso das Drogas (CICAD) da Organização dos Estados Americanos (OEA) e a Faculdade de Enfermagem da Universidade de Alberta, com apoio financeiro do Governo do Canadá. O programa foi dividido em duas partes. A primeira parte do programa foi realizada na Universidade de Alberta em Edmonton, Alberta, Canadá. Compreendeu a capacitação em metodologias de pesquisa na Faculdade de Enfermagem, que levou à preparação de quatro propostas de pesquisas multicêntricas para a redução da demanda de drogas nos países de origem dos onze participantes no programa. A segunda parte do programa estava relacionada à implementação de propostas de pesquisa multicêntricas em sete países da América Latina e no Canadá. Este programa apresentou expertise em metodologias de pesquisa a membros de Escolas de Enfermagem latino-americanas e introduziu expertise latino-americana a membros de uma Faculdade de Enfermagem canadense. O Primeiro Programa Internacional de Capacitação para Enfermeiros no Estudo do Fenômeno das Drogas nas Américas estimulou o tipo de respeito intercultural e apreço mútuo necessário para confrontar o problema de saúde global do abuso das drogas lícitas e ilícitas. ; El Primer Programa Internacional de Capacitación en Investigación para Enfermeros en el Estudio del Fenómeno de las Drogas en las Américas resultó de una colaboración entre la Comisión Interamericana para el Control del Abuso de Drogas (CICAD) de la Organización de los Estados Americanos (OEA) y la Facultad de Enfermería en la Universidad de Alberta, con apoyo financiero del Gobierno de Canadá. El programa fue dividido en dos partes. La primera parte del programa se organizó en la Universidad de Alberta en Edmonton, Alberta, Canadá. Abarcó la capacitación en metodologías de investigación en la Facultad de Enfermería, que llevó a la preparación de cuatro propuestas de investigación multicéntrica con vistas a la reducción de la demanda de drogas en los países de origen de los once participantes en el programa. La segunda parte del programa estaba relacionada a la implementación de propuestas de investigación multicéntrica en siete países de América Latina y en Canadá. Este programa presentó conocimientos especializados en metodologías de investigación a miembros de Escuelas de Enfermería latinoamericanas e introdujo los conocimientos especializados latinoamericanos a miembros de una Facultad de Enfermería canadiense. El Programa Internacional de Capacitación en Investigación para Enfermeros en el Estudio del Fenómeno de las Drogas en las Américas estimuló el tipo de respecto intercultural y apreciación mutua necesario para confrontar el problema de salud global del abuso de drogas lícitas e ilícitas. ; The First International Research Capacity-Building Program for Nurses to Study the Drug Phenomenon in the Americas is a result of a partnership between the Inter-American Drug Abuse Control Commission (CICAD) of the Organization of American States (OAS) and the Faculty of Nursing in the University of Alberta, with financial support from the Government of Canada. The program was divided into two parts. The first part of the program was held at the University of Alberta in Edmonton, Alberta, Canada. It involved capacity-building in research methodologies at the Faculty of Nursing, which lead to the preparation of four multi-centric research proposals for drug demand reduction in the home countries of the eleven participants in the program. The second part of the program was related to the implementation of multi-centric research proposals in seven countries in Latin America and in Canada. This program presented expertise in research methodology to members of Latin American Schools of Nursing and introduced Latin American expertise to members of a Canadian Faculty of Nursing. The International Research Capacity-Building Program for Nurses to Study the Drug Phenomenon in the Americas has fostered the kind of inter-cultural respect and mutual appreciation necessary to confront the global health problem of the abuse of both licit and illicit drugs.

Historical essay on international economic relations of Brazil since the 1950s up to the end of military regime, in 1985. Important changes are observed in the main flows in trade & finance, within world economy. Brazil keeps its defensive stance, in order to adjust to serious exchange restrictions & financial fragilities, a recurring trend during that period. Adapted from the source document.

According to the Theory of Economic Regulation, corporate lobbying is a productive investment for firms looking to influence legislation and public policy. Corporate political activity can generate benefits for the organization; however, in the presence of agency conflicts the advantage is often offset by agency costs borne by the shareholders. Sometimes excess remuneration is offered by the principal in exchange for the agent's commitment to shareholder wealth creation. In this study we evaluated the association between corporate lobbying, chief executive officer remuneration and corporate performance in238 firms traded on the New York Stock Exchange, covering the period 2014-2017. Our regression analyses reveal that corporate lobbying is positively associated with chief executive officer remuneration and negatively associated with corporate performance, suggesting the existence of agency costs resulting from corporate lobbying. In such scenarios, based on our sample, corporate lobbying does not improve performance or generate benefits for shareholders, but serves as a personal and political tool for executive self-promotion. ; Consoante preconiza a Teoria da Regulação Econômica, o lobbying corporativo é considerado um investimento produtivo para as empresas que procuram influenciar a legislação e as políticas públicas. A atividade política corporativa pode gerar benefícios para a organização, porém, na presença de conflitos de agência, essa vantagem é muitas vezes neutralizada pelos custos de agência suportados pelos acionistas. Por vezes, a remuneração excessiva é oferecida pelo principal em troca do compromisso do agente para com a criação de riqueza dos acionistas. Neste estudo, avalia-se a associação entre o lobbying corporativo, a remuneração do Chief Executive Officer e o desempenho empresarial, em 238 empresas com ações negociadas na New York Stock Exchange, abrangendo o quadriênio 2014-2017. As análises de regressão revelam que o lobbying corporativo está positivamente associado à remuneração do Chief ...