Search

For empirical purposes, value stocks are usually defined as those traded at low price-to-earnings ratios (stock prices divided by earnings per share), low price-to-book ratios (stock prices divided by book value per share) or high dividend yields (dividends per share divided by stock prices). Growth stocks, on the other hand, are traded at high price-to-earnings ratios, high price-to-book ratios or low dividend yields. Academic research so far produced, international and Brazilian alike, shows that value stocks outperform growth stocks, challenging the Efficient Market Hypothesis, which states that the market prices of traded stocks are the best estimate of their intrinsic values. Most studies use a single ratio to sort stocks on percentiles; risks (generally defined as beta or standard deviations) and returns are then calculated for the resulting value and growth portfolios. In the present paper, we aim to further contribute to the growing literature on the field by applying a method not previously tested on the Brazilian market. We build portfolios sorted by the price-to-earnings and price-to-book ratios alone and by a combination of both in order to assess value and growth stocks' risks and returns on the Brazilian stock market between 1989 and 2009. Furthermore, our risk analysis may be regarded as the paper's main contribution, since its approach departs from conventional risk concepts, as we not only test for beta: portfolios' returns are measured under different economic conditions. Results support a pervasive value premium in the Brazilian stock market. Risk analysis shows that this premium holds under every economic condition analyzed, suggesting that value stocks are indeed less risky. Beta proved not to be a satisfactory risk measure. Portfolios sorted by the price-to-earnings ratio yielded the best results. [ABSTRACT FROM AUTHOR]

This paper proposes a new type of growth rate, called the “poverty equivalent growth rate” (PEGR), which takes into account both the growth rate in mean income and how the benefits of growth are distributed between the poor and the non-poor. The proposed measure satisfies a basic requirement that the proportional reduction in poverty is a monotonically increasing function of the PEGR. Thus, maximizing the PEGR implies a maximum reduction in poverty. The paper demonstrates that the magnitude of PEGR determines the pattern of growth: whether growth is pro-poor in relative or absolute sense or is “poverty reducing” pro-poor. The pattern of growth has been analyzed for Brazil using the National Household Survey (PNAD) covering the period 1995–2005. [ABSTRACT FROM AUTHOR]

This paper provides contemporary climate, deep rooted economic conditions for FTA (free trade agreement), BRICS. In light of changing global economy this paper traces GDP, unemployment and inflation change before and after the FTA. BRICS Nations together has 22.2% of global output, 17.2% Global trade and 40% of global population. The significance of trade and GDP were highlighted during 6th BRICS summit Brazil 2014, which paved much deeper agreement and talks with respect to strategy for economic partnership trade and Investment Corporation. The significance of international trade among BRICS countries was highlighted during the Sixth BRICS Summit in Fortaleza, Brazil in 2014. Secondary data was collected from various sources for the past 20 years and analysis is done using basic regression in SPSS. [ABSTRACT FROM AUTHOR]

The reconstruction of the economic history of Brazil since independence from Portugal (1822) may lead to a new understanding of its economic growth. The deep-rooted idea that Brazil could have done better means there is a need to delve into each phase of its development. In this paper, we provide a very long-run perspective (1822-2019) of Brazil's economic growth and process of real convergence. On the one hand, this review indicates that structural changes observed in the middle of the 20th century were crucial in promoting the country's growth and real convergence with technologically advanced countries. On the other hand, poor institutional conditions and deficient human capital formation have emerged since colonial times as critical factors underlying Brazil's inability to establish robust and sustainable economic growth. [ABSTRACT FROM AUTHOR]

Copyright of Araucaria is the property of Araucaria-Revista Iberoamericana de Filosofia, Politica y Humanidades and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Ciência & Saúde Coletiva is the property of Associacao Brasileira de Pos-Graduacao em Saude Coletiva and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

I study the exogenous shock of Napoleon's invasion of the Iberian Peninsula in 1807. I argue that this event triggered different chains of events in Latin America. On the one hand, the Empire of Brazil remained under monarchical rule thanks to the exile of the royal court to Portugal's most significant colony. The continuity of the monarchical system provided legitimacy and political stability, thus minimizing violence in Brazil. On the other hand, Napoleon's capture and removal of the Spanish King created a vacuum of power resolved through violent secession and wars. I estimate the effects of removing the Spanish King using fatalities data from conflicts and applying difference-in-differences. I find that Continental Spanish America suffered 7.01 times more fatalities than its counterfactual. In addition, the Empire of Brazil was able to transfer the gains from relative peace to positive economic outcomes by outperforming Continental Spanish America in height, population growth, and income per capita. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to construct a possible future scenario for South Africa in Africa using the backcast approach. Design/methodology/approach - The methodology followed is to present a brief political and economic history of African colonization and de-colonization, globalisation and the rise of Brazil, Russia, India, China and South Africa (BRICs). Strengths and weaknesses are discussed and used to sketch a desired future scenario from which the backcast is constructed. Findings - It is suggested that the optimal future is one involving SADC-MERCOSUR alliance with South Africa and Brazil as the respective leaders Research limitations/implications - A study of this kind is necessarily speculative. Practical implications - The paper alerts policy makers to the threats and opportunities inherent in south-south dialogue. Social implications - The prospect of collaboration holds promise of social upliftment in the region. Originality/value - The arguments are original to the author. [ABSTRACT FROM AUTHOR]

This paper investigates the main sources of instability in Brazil during the currency and financial distress episode of 2002. We test for financial contagion from the Argentine crisis and the impact of factors including IMF intervention and political uncertainty in raising the probability of crisis. The empirical investigation employs a Markov-switching model with endogenous transition probabilities. [ABSTRACT FROM AUTHOR]

Copyright of Revista de la CEPAL is the property of United Nations Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Estudos Ibero-Americanos is the property of EDIPUCRS - Editora Universitaria da PUCRS and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Acta Geográfica is the property of Acta Geografica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Patrimônio e Memória is the property of Centro de Documentacao e Apoio a Pesquisa and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Brazilian Journal of Applied Economics / Economía Aplicada is the property of FEA-RP, Universidade de Sao Paulo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Historia Económica / Journal of Iberian & Latin American Economic History is the property of Cambridge University Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article discusses the innovation policy and options for improving the country's innovation performance in Brazil. This paper also compares and contrasts the country's innovation indicators with those of OECD and Latin American countries. The country's main challenge in innovation policy is to encourage the business sector to engage in productivity-enhancing innovative activities. To be successful in boosting business innovation, these policies will need to be complemented by measures aimed at tackling the shortage of skills in the labour force. This shortage is among the most important deterrents to innovation in the country, particularly against the backdrop of a widening gap in tertiary educational attainment with respect to the OECD area

We revisit the recent past of the Brazilian economy in an attempt to present an alternative characterization of the nature of the late 1990s crisis. The theoretical basis of this analysis is Marxian political economy. This choice is justified by the contraposition between the Marxian theory of overproduction cyclical crisis and the most popular currency crisis theories, revealing that while the latter focus on the phenomenon's appearance, the former analyzes it in depth. The analysis of capital accumulation during Brazil's Real Plan shows that the examined crisis can be characterized as another manifestation of the aforementioned phenomenon: the overproduction cyclical crisis. JEL Classification: B51, E32, N16 [ABSTRACT FROM AUTHOR]

Purpose: The main purpose of this study is to evaluate whether the COVID-19 pandemic has stimulated earnings management among publicly traded companies in Brazil and the USA. Design/methodology/approach: The authors analyzed the above-mentioned effects based on 22,244 observations of Brazilian companies and 139,856 observations of American companies from 1998 to 2020. The proxy used to detect earnings management based on discretionary accruals (DAC) was obtained by using the Modified Jones Model (MJM) (Dechow et al., 1995), with adjustments suggested by Kothari et al. (2005). In accordance with previous studies (e.g. Brown et al., 2015; Enomoto et al., 2015; Galdi et al., 2020; Huang and Sun, 2017; Roychowdhury, 2006), the authors also employed a second proxy to detect earnings management through real activities associated with unusual losses for fixed assets (property, plant and equipment (PPE)). Findings: The study's findings indicate that the discretionary accruals of Brazilian companies varied in a more accentuated manner during the COVID-19 pandemic, making it possible to deduce that a recent history of economic depression may entail greater incentives for earnings management in an emerging economy. In addition, the authors verified that the effects of the current crisis on earnings management proxies denote a signal that is distinct from previous economic crises, which may be interpreted as an attempt to postpone the effects of the pandemic on financial statements, especially those of the Brazilian capital markets. Originality/value: Unlike previous crises, this pandemic has led to direct restrictions on a wide variety of economic segments rather than indirect contagion due to anomalies in the financial markets, making it a phenomenon with the characteristics of a quasi-natural experiment for studies related to the quality of accounting information. Considering that both Brazil and the USA provide an opportune economic contrast, given their discrepancies in terms of economic growth over the past two decades, the researchers believe that there is an unusual opportunity to understand how earnings management can be an incentive for managers in environments where crises arose from natural causes. [ABSTRACT FROM AUTHOR]

The Second National Education Regulatory Framework (2nd LDB), enacted in 1971, changed the grade configuration of schooling levels in Brazil. This change made it challenging to construct a valid and reliable education spending data profile for 20th century Brazil. Previous work on the economic history of education in Brazil used the data provided according to the thesis of Maduro (2007). Wjuniski (2013) used that database and ran structural break tests and concluded that the Brazilian government underinvested in the expansion of secondary education. However, Wjuniski did not consider problems concerning: (i) data reliability and (ii) the effects of the 2nd LDB on education expenditure data. This paper shows that data on education spending in Brazil does not allow us to assert that there was an underinvestment in secondary education from 1971 onwards. [ABSTRACT FROM AUTHOR]

Most policies, explicitly or implicitly, involve sharing responsibilities between different organizations, such as departments, government spheres, ministries, or private organizations. Thus, in recent decades, networks have become increasingly common in public policies. The Brazilian health system - given its size and geographic scope - is an example of complexity and sometimes fragmentation in policy implementation. In this context, the government adopts the concept of Healthcare Networks (RASs) in the operation of its health system. A characteristic that defines RASs is their regional character, since it is necessary to go beyond the municipal borders for the optimization of resources. This scenario of interregional relations becomes denser when the territory in question is configured in an urban superstructure, as is the case in metropolitan regions. Thus, this paper proposes the discussion of the case of Healthcare Networks in the Brazilian metropolitan regions and describes, in greater detail, the case of Campinas Metropolitan Region. [ABSTRACT FROM AUTHOR]

Negative impacts of plantation agriculture were widely recognized when the expansion of palm oil production began in Brazil. In 2010, president Lula da Silva initiated a program to foster socially and environmentally sustainable palm oil production. Our research in Brazil's palm oil production hotspot Tomé-Açu, Pará, leads us to question the success of this program. Based on data-driven analysis of material and land use and qualitative field research, we reveal unsustainable biophysical patterns and drivers of plantation expansion. In particular, we identify functional links between deforestation, pursuant use of land for cattle ranching, and (perceived) availability of plantation land. By considering the direct and indirect material and land use effects of palm oil production, we find that deforestation sustainability programs seek to avoid remains a prerequisite to plantation expansion. Material and land use patterns shape not only the biophysical but also the economic basis of rural livelihoods with implications for the environ mental and the social sustainability of any further expansion of palm oil production. [ABSTRACT FROM AUTHOR]

Copyright of Revista Debates is the property of Revista Debates and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Tiempo y Economía is the property of La Fundacion Universidad de Bogota Jorge Tadeo Lozano and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Debates an issue about the effect of gold mining to the history of slavery in Brazil during the 18th century. Estimated output of gold mining in Brazil during the 18th century; Consequences of the gold rush to Brazil; Description of the impact of gold mining to slavery.

This paper analyzes the beef supply chain in Brazil with the purpose of identifying the existence of market power between farmers and slaughterhouses. The study is divided in two parts. First, we characterize the beef sector in Brazil, and conclude that the industry structure is close to a oligopsony. Following the tradition of the New Empirical Industrial Organization (NEIO), we then proceed to apply an econometric test to detect market power. This new method tries to overcome the usual limitations in which the results obtained are sensitive to assumptions about production technology. Using profit maximization conditions for slaughterhouses, and a time series of monthly data over a period of 14 years from the state of Sao Paulo, we found evidence of weak to moderate market power in the relationship between slaughterhouses and producers. Robustness checks through alternative models only confirmed these results. Also, we did not find evidence that market power has increased any in recent years, during which the industry concentration ratio has increased substantially. [ABSTRACT FROM AUTHOR]

This paper studies the effect of additional government revenues on political corruption and on the quality of politicians, both with theory and data. The theory is based on a political agency model with career concerns and endogenous entry of candidates. The data refer to Brazil, where federal transfers to municipal governments change exogenously at given population thresholds, allowing us to implement a regression discontinuity design. The empirical evidence shows that larger transfers increase observed corruption and reduce the average education of candidates for mayor. These and other more specific empirical results are in line with the predictions of the theory. (JEL D72, D73, H77, O17, O18) [ABSTRACT FROM AUTHOR]

Copyright of Societes is the property of De Boeck Universite and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Our paper provides a comparative perspective on the development of public primary education in four of the largest developing economies circa 1910: Brazil, Russia, India and China (BRIC). These four countries encompassed more than 50% of the world's population in 1910, but remarkably few of their citizens attended any school by the early 20th century. We present new, comparable data on school inputs and outputs for BRIC drawn from contemporary surveys and government documents. Recent studies emphasize the importance of political decentralization, and relatively broad political voice for the early spread of public primary education in developed economies. We identify the former and the lack of the latter to be important in the context of BRIC, but we also outline how other factors such as factor endowments, colonialism, serfdom, and, especially, the characteristics of the political and economic elite help explain the low achievement levels of these four countries and the incredible amount of heterogeneity within each of them. [ABSTRACT FROM AUTHOR]

Copyright of Estudios Sociológicos is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In recent years, Brazil is becoming a global power and, at the same time, it is often considered as the regional leader. In this paper, we tackle with the growing role of Brazil in the international arena while tensions among neighbors are also increasing. What are Brazilian foreign policy priorities: regional bonds or global affairs? [ABSTRACT FROM AUTHOR]

A study about the victimization in the city of Sao Paulo. This paper applies the crime economics theory to Brazilian data. Following Becker (1968), Hinderlang et al. (1978) and Cohen et al. (1981), we tested the microeconomic factors that influence crime and victimization. For this end, the two waves of research of victimization of the Instituto Futuro Brasil, 2003 and 2008, were used in an effort to identify the determinants of victimization and police notification, using probit model. The main results suggest the factors which impact significantly the probability of victimization are the demographic characteristics, economic conditions and personal habits. The models of "life style" and "opportunity" seem to have good performance. [ABSTRACT FROM AUTHOR]

The main theoretical and empirical interest of this article is the wide set of destitute class positions that characterise the social structure specificity in Brazil. First, a socioeconomic classification for Brazil, based on a neo-Marxist concept of social class, is introduced and defended against an alternative approach. At the same time a brief conceptual and observational characterisation of all 16 class positions from this classification is provided, with a comprehensive specification of the relevant destitute class positions. Then, a comparison is made between this neo-Marxist typology and the neo-Weberian class scheme applied to Brazil. Economic inequality and its recent trends in Brazil are characterised through data regarding the absolute and relative changes in the earnings distribution between the class positions from 1992 to 2008. The distribution of class positions within each geographical region is presented, highlighting the intersection of class with gender and race. Social indicators are presented that describe the implications of the work activity performed with insufficient or without assets, as well as the consequences of job exclusion. Statistical models are finally applied to measure the independent effects, controlling for some co-variables, of the class positions on the family earnings and on the relative health status of the individuals. As a conclusion, a synthetic characterisation of the three groupings of destitute positions is offered that presents the specificity of the Brazilian class structure. [ABSTRACT FROM AUTHOR]

The paper presents a comparative study of social, political, economical, and health situation aged population of Brazil, Spain, and United States. A discussion was made about changing process age structure base don literature of the three countries. Data analysis confirmed improvements in ag people life conditions, and changing on social insertion and political and moral attitudes. Data indicat also that there are no similarities or differences among the countries which can be attributed to econom conditions, nor to cultural traditions. The duality expresses a transition in this segment, traditiona viewed in a negative way and, nowadays, also considered as economic and familiar support. T perspectives are that the aged people positive social role will be emphasized by naturalization of agi and by establishing de analytic references on aging itself. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economia e Administração is the property of INSPER Instituto de Ensino e Pesquisa and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economia e Administração is the property of INSPER Instituto de Ensino e Pesquisa and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de la CEPAL is the property of United Nations Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to be a reflection on the importance of the Brazil and Argentina closer relations in the nuclear field, in the late eighties and early nineties, as the basis for building a new relationship that replaced a historical rivalry. The aproximation process has begun with apparently economic purposes, but also had a strategic dimension. The repercussions of this effort went beyond immediate bilateral interests, reflected in the search for a new international insertion by both countries, at a time of deep transformations, both internally and internationally. The Brazil-Argentina integration program (that later also involved Uruguay) and MERCOSUL led to the establishment of a political-legal structure that created a reality that goes beyond economics to the political domain. [ABSTRACT FROM AUTHOR]

This paper develops a method for estimating long-run trends in income growth from the data available on a country's currency stock. The method is applied to nineteenth-centry Brazil. The results indicate that contrary to earlier beliefs, the country as a whole probably experienced only moderate growth in per-capita income during the nineteenth century. The approach may also be useful for other countries where data shortages preclude estimates of national income by conventional methods. [ABSTRACT FROM AUTHOR]

History matching is the process of modifying the uncertain attributes of a reservoir model to reproduce the real reservoir performance. It is a classical reservoir engineering problem and plays an important role in reservoir management since the resulting models are used to support decisions in other tasks such as economic analysis and production strategy. This work introduces a dynamic decision-making optimization framework for history matching problems in which new models are generated based on, and guided by, the dynamic analysis of the data of available solutions. The optimization framework follows a ‘learning-from-data’ approach, and includes two optimizer components that use machine learning techniques, such as unsupervised learning and statistical analysis, to uncover patterns of input attributes that lead to good output responses. These patterns are used to support the decision-making process while generating new, and better, history matched solutions. The proposed framework is applied to a benchmark model (UNISIM-I-H) based on the Namorado field in Brazil. Results show the potential the dynamic decision-making optimization framework has for improving the quality of history matching solutions using a substantial smaller number of simulations when compared with a previous work on the same benchmark. [ABSTRACT FROM AUTHOR]

Global Value Chain (GVC) proponents argue that regional and human development can be achieved through ‘strategic coupling’ with transnational corporations. This argument is misleading for two reasons. First, GVC abstracts firm–firm and firm–state relations from their class-relational basis, obscuring fundamental developmental processes. Second, much GVC analysis promotes linear conceptions of development. This article provides a class-relational framework for GVC analysis. The formation and functioning of GVCs and the developmental effects associated with them are products of histories of evolving, and often conflictive, class relations. A study of export fruiticulture in Northeast Brazil provides empirical support for these arguments. [ABSTRACT FROM PUBLISHER]

Institutions are widely recognized as determinants of economic development. However, institutional economists often overlook pertinent historical incidents in their search for broad patterns. At times, this search oversimplifies truly complex phenomena. In light of this, we apply a micro-institutional analysis to explain the success of colonial Brazil's early settlements as a mix of accident and design. By doing so, we stress the limitations that can result when applying an aggregate institutional interpretation of economic history and development. We also apply the principal-agent model and its main feature – risk-sharing – to an extreme case that involves settlers and natives risking their lives, while Portuguese principals sought to reduce transaction costs in an important and resource-rich colony. [ABSTRACT FROM PUBLISHER]

Copyright of Cadernos EBAPE.BR is the property of Fundacao Getulio Vargas, Escola Brasileira de Administracao Publica e de Empresas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Luso-Brazilian Review is the property of University of Wisconsin Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Author-supplied Abstracts.)

Marine Protected Areas (MPAs) have been regarded as an alternative to protect natural resources and to improve fisheries. However, MPAs may also have negative socio-economic consequences on fishing communities. We aimed to check the effectiveness of a socially conflicting MPA in Brazil by assessing target reef fish biomass in islands inside (n = 6) and outside (n = 6) the MPA, fisheries’ productivity (biomass), catch per unit of effort (CPUE), and fishers’ socio-economic status (mainly fishers’ income) in three fishing communities subjected to different degrees of influence (close, average, and long distance) of the MPA. The CPUE was higher in the fishing community that was further away from the MPA, fish biomass was higher in the islands located inside the MPA in the southern region and in the islands located outside the MPA in the northern region, while fishers were making the most money closest to the MPA, where conflicts are the highest, probably from practicing very intensive fisheries. This integrated approach showed that the studied MPA has not delivered ecological benefits, such as higher CPUE or more fish, while higher income closer to the MPA could not be clearly attributed to its effects. [ABSTRACT FROM AUTHOR]

Copyright of Política & Sociedade: Revista de Sociologia Política is the property of Revista Politica & Sociedade and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Política & Sociedade: Revista de Sociologia Política is the property of Revista Politica & Sociedade and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The first analytic groups formed in Brazil were a psychiatrist initiative in the late 1950s to meet the substantial demand for psychotherapeutic care for a large population with inadequate access to material resources. Although group-analytic psychotherapy arrived in private practice a few years later with great success, such therapy has always been a privilege in public institutions that provide free care for low-income populations. This article reports the development of a group-analytic psychotherapy process performed for over 4 years with a neurotic low-income patient group in the psychiatric ward of a major urban hospital in Rio de Janeiro. The department is responsible for clinical education and training of psychiatrists and psychologists. The treatment provided is preferably performed in the group setting. The group report illustrates how group-analytic psychotherapy is delivered in public institutions in Brazil, presenting both its difficulties and specificities. [ABSTRACT FROM AUTHOR]

Copyright of Revista de la CEPAL is the property of United Nations Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article discusses and compares the rural development processes and practices currently occurring in China, Brazil and the European Union. Although these are strongly rooted in the specificities of time and space, they also share important commonalities. We argue that rural development can be viewed as an evolving set of responses to market failures. A key element of these responses is that they are unfolding through the construction of new markets: a seemingly contradictory phenomenon that has, as yet, hardly been scrutinized or theoretically elaborated. We describe these newly emerging markets as ‘nested markets’ and support our argument with a careful reconsideration of the dynamics of long-established nested markets. We then extend this analysis, firstly, by arguing that the construction of such new markets occurs through a process of social struggle and, secondly, by exploring the strength of these newly emerging constellations in relation to the hegemony exerted by food empires. Our analysis puts common-pool resources, which underlie these new, nested markets, centre stage. [ABSTRACT FROM PUBLISHER]