Fiscal risks and the quality of fiscal adjustment in Hungary

The government of Hungary has contained the main fiscal risks of the transition to a market economy. It has paid off and resolved most problems in the banking and enterprise sectors. Since 1995 it has implemented fiscal adjustment with the objective of long-term fiscal stability rather than an immediate deficit target. The main result has been pension reform, which has raised temporary deficits but reduced the long-term public liability. Only the health sector awaits the reform needed for long-term fiscal stability. Levels of government spending, budget deficits, and public service remain high, but the government has made great progress toward rationalizing public spending and improving the management of budget and off-budget fiscal risks. In the transition, the government has taken on new fiscal risks--mainly state guarantees and growing programs of credit and guarantee agencies (operating on behalf of the government) organized after privatization to support, first, industries and, later, exporters. The government has dealt with these new programs of contingent government support prudently and transparently, with reasonable ceilings on (and reporting of) risks. Hungary is likely to face pressure for additional spending. Priorities in fiscal policy should include reforming health financing, establishing checks on hidden subsidies in guarantee programs, and determining the government's optimal exposure to risk. In terms of institutions, the government should aim to create a more flexible, responsive budget process and greater capacity to analyze medium-term fiscal risks, to build a more results-oriented budget management system, and to improve mechanisms for sharing risk between the public and private sectors under government programs.Insurance&Risk Mitigation,Banks&Banking Reform,International Terrorism&Counterterrorism,Payment Systems&Infrastructure,Financial Crisis Management&Restructuring,Banks&Banking Reform,National Governance,Insurance&Risk Mitigation,Municipal Financial Management,Financial Crisis Management&Restructuring

Fiscal adjustment and contingent government liabilities : case studies of the Czech Republic and Macedonia

To control the expansion of government contingent liabilities and reduce fiscal vulnerability, one must be able to identify and measure them. The authors discuss how this may be done and demonstrate how the assessment of fiscal adjustment may change substantially when a broader picture of government liabilities is included. They base their analysis on experience in analyzing fiscal adjustment in the Czech Republic and Macedonia. Their work demonstrates the importance of including contingent liabilities when analyzing fiscal sustainability. To the extent that explicit expenditures are shifted off-budget or replaced by guarantees, the achieved improvement in fiscal balances is overstated. For the Czech Republic, adjustment may have been overstated by some 3 to 4 percent of annual GDP. A stabilization program accompanied by a build-up of contingent liabilities, particularly state guarantees and obligations to cover liabilities emerging from directed credit, may not be sustainable. In Macedonia, the present fiscal equilibrium may be temporary because the stock of existing contingent liabilities could add 2 to 4 percent of GDP to future deficits. And methods used to reduce the"traditional"deficit are unlikely to be sustainable without further modification. The authors conclude that governments: 1) must find better ways to identify and evaluate contingent liabilities arising from the banking system, nonbanking financial institutions, public enterprises, or the contingent and direct liabilities of subnational governments; 2) need to better manage their risks--for example, building adequate reserve funds and hedging risk, where possible; and 3) should examine the implications of the bias toward adding contingent liabilities and develop administrative reform as part of analyzing budget management.Banks&Banking Reform,Payment Systems&Infrastructure,International Terrorism&Counterterrorism,Insurance&Risk Mitigation,Environmental Economics&Policies,Banks&Banking Reform,Insurance&Risk Mitigation,National Governance,Environmental Economics&Policies,Financial Crisis Management&Restructuring

Aposentadoria de sócios de empresas no Brasil : proposta de cálculo por cenários de remuneração

Trabalho de Conclusão de Curso (graduação)—Universidade de Brasília, Faculdade de Tecnologia, Departamento de Engenharia de Produção, 2019.O planejamento para aposentadoria é tema importante para todo indivíduo ativo e que vai iniciar a vida profissional. Empresários e sócios não são temas recorrentes de estudos deste tipo por, muitas vezes, acreditarem que o empresário tem tantos bens que não é preciso ter essa preocupação, o que não é verdade. O objetivo deste estudo é analisar e comparar as diversas formas de remuneração de sócios de empresas no Brasil com ênfase em suas aposentadorias. Definindo um contexto e cenários de remuneração, definiram-se perfis diferentes de sócios e foram elaboradas comparações para a escolha da melhor opção de remuneração. A conclusão foi de que, para a maioria dos casos, é melhor contribuir com o mínimo para o INSS e investir, por conta própria, o valor equivalente para se obter o teto de contribuição do INSS

China : urban services and governance

The study addresses governance challenges in public service delivery in China. It builds on the citizen scorecard survey conducted in five Chinese cities in 2006 to gauge citizens’ experience with public services, and demonstrates the usefulness of citizens’ feedback for policy development and implementation. The survey found that citizens were generally pleased with urban public services, but worried about the associated fees. Compared with the official urban residents, the urban poor and rural migrants in cities reported sharper utilization constraints, lower readiness to complain or pay informal fees, and a much larger income share spent on public services. The reported citizens’ perceptions sometimes diverged from the evidence and pointed to significant information asymmetries. Explaining the survey results, the study reveals problems of inadequacy, inequality and misaligned incentives in public resource allocation. The study presents several successful experiments reducing the dependence on user fees in basic education and primary healthcare. It recognizes that China has been undertaking comprehensive reforms to enhance equity and quality in public service delivery. Such reforms have included measures to strengthen the regulatory, monitoring, and enforcement systems and accountability relationships. In the context of the ongoing reforms, this study highlights the need to: a) hold the provincial governments accountable for public service delivery performance; b) develop effective mechanisms to align public resources and incentives at each level of government with the national priorities; and c) develop proper means to empower the citizens. In this context, the study affirms that the Chinese government is rightly placing reforms in the intergovernmental, administrative, and public finance systems at the top of its agenda.Public Sector Management and Reform,Public Sector Economics,Health Monitoring&Evaluation,Governance Indicators,Population Policies

Marketing Digital : Transcendencia del Marketing hacia las nuevas plataformas del marketing digital

El marketing digital cuyo significado es similar al marketing electrónico; ambos describen el manejo y la ejecución del marketing utilizando los medios electrónicos como la web, el correo electrónico, la televisión interactiva , la IPTV y los medios inalámbricos, junto con los datos digitales acerca de las características y el comportamiento de los clientes. Con los avances del marketing hacia las nuevas plataformas del marketing digital, tiene un objetivo principal el cual radica en promover las marcas, realizar incrementos en las ventas de igual forma mirar las oportunidades y desafíos para promoción de las empresas en línea, a través de las plataformas tecnológicas digitales, como las comunicaciones de escritorio, móviles y medios digitales: los motores de búsqueda, publicidad gráfica y medios sociales. El marketing digital se implementa en el internet como pieza clave antes mencionado, está innovando cada vez más dando un auge en la tecnología tomando en cuenta la medición personalizada, fidelización y valoración de los canales en la experimentación a bajo costo. El desarrollo del marketing digital examina los métodos y las estrategias tradicionales para la aplicación con los aspectos relativos a internet, lo cual los profesionales del marketing deben tomar en cuenta para su compra. Una de las principales estrategias del canal del marketing es establecer una empresa con los objetivos de un canal y desarrollar una propuesta diferencial del canal y comunicaciones especifica de canal coherente. Para la elaboración de este seminario de graduación se hace uso de las fuentes secundarias, orientaciones del departamento de administración de empresas, normas apa sexta edición y las normativa de seminario de graduación la cual establece que es una investigación documental

Equity and public governance in health system reform : challenges and opportunities for China

Achieving the objective of China's current health system reform, namely equitable improvements in health outcomes, will be difficult not least because of the continuously growing income disparities in the country. The analysis in this paper shows that since 2000, disparity in selected health outcomes has been declining across provinces, largely due to earmarked central government allocations. By contrast, public expenditure on health is increasingly regressive (positively correlated with local income per capita) across provinces, and across prefectures and lower levels within provinces. The increasing inequity in public expenditure at sub-national levels indicates that incentives, responsibilities, and resources at sub-national levels are not well aligned with China's national priorities. To address the weaknesses in equity and efficiency that characterize China's health system and health outcomes, China's health system reform may require complementary reforms to improve governance for public service delivery across sectors.Health Monitoring&Evaluation,Health Systems Development&Reform,Health Economics&Finance,Regional Rural Development,Economic Theory&Research

Social, economic, political and health system and program determinants of child mortality reduction in China between 1990 and 2006: A systematic analysis

Between 1990 and 2006, China reduced its under-five mortality rate (U5MR) from 64.6 to 20.6 per 1000 live births and achieved the fourth United Nation’s Millennium Development Goal nine years ahead of target. This study explores the contribution of social, economic and political determinants, health system and policy determinants, and health programmes and interventions to this success

Avaliação de métodos para renovação de copa em erval sombreado.

Resumo

Dynamic, Not Isometric Resistance Training Improves Muscle Inflammation, Oxidative Stress and Hypertrophy in Rats

This study aimed to compare the effects of dynamic (DRT) and isometric (IRT) resistance training on blood glucose, muscle redox capacity, inflammatory state, and muscle strength and hypertrophy. Fifteen 12-week-old male Wistar rats were randomly allocated into three groups: control group (CTL), DRT, and IRT, n = 5 animals per group. The animals were submitted to a maximal weight carried (MWC; every 15 days) and maximum isometric resistance (MIR; pre- and post-training) tests. Both training protocols were performed five times a week during 12 weeks, consisting of one set of eight uninterrupted climbs for 1 min with a 30% overload of MWC. The animals in the IRT group remained under isometry for 1 min. The DRT group experienced greater MWC from pre- to post-training compared to the CTL and IRT groups (p < 0.0001). The DRT and IRT groups displayed similar gains in MIR (p = 0.3658). The DRT group exhibited improved glycemic homeostasis (p = 0.0111), redox (p < 0.0001), and inflammatory (p < 0.0001) balance as compared with CTL and IRT groups. In addition, the improved glycemic profile was associated with an increase in muscle strength and hypertrophy, improvement in redox balance and inflammation status. We conclude that DRT was more effective than IRT on increasing cross-sectional area, but not muscle strength, in parallel to improved blood glucose, inflammatory status, and redox balance