Implications of Oil Price Shocks for the Macroeconomy of African Oil exporting countries : evidence from Angola and Nigeria

Angola and Nigeria are the two largest oil production countries in Africa. Oil related activities represent a large proportion of their economic activity which make them vulnerable to oil price shocks. A large body of research suggests that oil price fluctuations have considerable consequences on economic activity, however, the empirical literature on macroeconomics effects of oil price shocks is biased towards developed oil importing countries and lacks developing countries study cases (Bangara & Dunne, 2018). Following existing literature (Jiménez-Rodríguez & Sánchez, 2004), a quarterly four variables SVAR from 2002Q1 to 2017Q4 is applied to investigate the implications of oil price shocks in the key macroeconomic variables of Angola and Nigeria. The study finds that even though the two countries share similar dependence on oil exports, there is strong evidence that they react differently to crude oil price shocks. While in Angola oil prices granger-cause real GDP, real exchange rate and inflation, in Nigeria it only granger-cause real exchange rate. Furthermore, whereas in Angola, a positive oil price shock, increases real GDP, contributes to an appreciation of the real exchange rate and a reduction in inflation. In Nigeria, real GDP doesn’t seem to respond significantly to oil price shocks and at least in the short run neither inflation. These results suggest that Angola is more vulnerable to oil price shocks than Nigeria which maybe explained by the different structure of their domestic economies as well as the differences in the reserve buffers strategies to soften the magnitude of the external shock’s impact.Angola e Nigéria são os dois maiores produtores de petróleo em África. A maior parte da literatura empírica consultada sugere que flutuações do preço do petróleo têm um impacto considerável na atividade económica dos países. Entretanto, estes estudos analisam maioritariamente países desenvolvidos (importadores de petróleo). Sendo que existe uma carência de estudos de casos de países em desenvolvimento exportadores de petróleo (Bangara & Dunne, 2018). Seguindo a literatura (Jiménez-Rodríguez & Sánchez, 2004), procuramos investigar as implicações dos choques petrolíferos em Angola e na Nigéria através da aplicação de um SVAR de 2002Q1 a 2017Q4. O estudo constata que, embora os dois países sejam similarmente dependentes das exportações de petróleo, há fortes evidências de que eles reagem de maneira diferente aos choques petrolíferos. Em Angola os choques petrolíferos causam (no sentido de Granger) um aumento do PIB real, da taxa de câmbio real e da inflação. Mas, na Nigéria os choques petrolíferos causam apenas a taxa de câmbio real. Além disso, enquanto em Angola, um aumento no preço do petróleo, aumenta o PIB real, contribui para uma apreciação da taxa de câmbio real e uma redução da inflação. Na Nigéria, o PIB real não parece responder de forma significativa aos choques petrolíferos e, pelo menos a curto prazo, nem à inflação. Os resultados sugerem que Angola é mais vulnerável aos choques petrolíferos do que a Nigéria e aponta como possível explicação a diferença na estrutura económica, e na existência de fundos de estabilização macroeconómica

The ILLTP Library for Intuitionistic Linear Logic

Benchmarking automated theorem proving (ATP) systems using standardized problem sets is a well-established method for measuring their performance. However, the availability of such libraries for non-classical logics is very limited. In this work we propose a library for benchmarking Girard's (propositional) intuitionistic linear logic. For a quick bootstrapping of the collection of problems, and for discussing the selection of relevant problems and understanding their meaning as linear logic theorems, we use translations of the collection of Kleene's intuitionistic theorems in the traditional monograph "Introduction to Metamathematics". We analyze four different translations of intuitionistic logic into linear logic and compare their proofs using a linear logic based prover with focusing. In order to enhance the set of problems in our library, we apply the three provability-preserving translations to the propositional benchmarks in the ILTP Library. Finally, we generate a comprehensive set of reachability problems for Petri nets and encode such problems as linear logic sequents, thus enlarging our collection of problems

International Nascent Entrepreneurship: The role of Individuals and Governments

Dissertação de Mestrado em Gestão e Internacionalização de EmpresasEntrepreneurship research has increased over the time, the role of this phenomenon in the economy is indisputable, being considered a motor for the growth of economy, wealth and recent studies even found that entrepreneurship as an important role on well-being too. Despite the large number of studies about the stimulus and favorable environment created by the governments to increase the creation of new business, there are some gaps in the literature of this event. In this study is intended to fill some of this gaps, exploring the principal objective of this research, being to understand the priority given by the government in incentives for entrepreneurship as well to study the impact in the perceptions and characteristics of the individuals in the decision to become entrepreneurs. In order to achieve the principal objective of this dissertation, as well of the secondary objectives, two studies were carried. In the first phase, using recent theory and data from the Global Entrepreneurship Monitor - National Expert Survey (GEM NES), which is at this time one of the main international research databases, are studied the factors found on the literature that helps to stimulate the creation of new business and which of them are more important. To achieve this aim, multivariate analysis techniques were used, in particular factor analysis and multiple linear regression models. In the second article, in order to study the variables mentioned in literature that influence the decision to become entrepreneur and international entrepreneur, the database Global Entrepreneurship Monitor - Adult Population Survey (GEM APS) was used, with responses from 60 countries. To achieve the goal, were used nine logistic regression models. Our results from the first study suggest that Government Policies, Financing, Taxes and R&D are all relevant and significant in evaluating the priority given by the government in the creation of firms but also on the growing firms. In more detail, the most important factor to the experts to evaluate the importance given by the government in the entrepreneurship is the Government Policies. In the second research, the results show that all three demographic and economic variables, perceptual variables and national environment are significant when evaluating the decision to become entrepreneur and international entrepreneur, focusing on the fact that principal perceptual variables and country-effects variables help to explain better this decision.A investigação acerca da temática do empreendedorismo tem vindo a aumentar ao longo do tempo, o papel que este fenómeno representa na economia é indiscutível, sendo considerado um motor de crescimento da economia, riqueza e estudos recentes chegam a constatar que o empreendedorismo tem um papel importante também no bem-estar da população empreendedora. Apesar do grande número de estudos sobre os estímulos e ambiente favorável criado pelos governos para aumentar a criação de novos negócios, existem algumas lacunas na literatura deste evento. Neste estudo pretende-se preencher algumas dessas lacunas, explorando o objetivo principal desta pesquisa, passando por compreender a prioridade dada pelo governo nos incentivos ao empreendedorismo bem como estudar o impacto nas perceções e características dos indivíduos na escolha para se tornarem empreendedores. Para atingir o objetivo principal desta dissertação, assim como os objetivos secundários, foram realizados dois estudos. Num primeiro estudo, utilizando teoria recente e dados do Global Entrepreneurship Monitor - National Expert Survey (GEM NES), que é neste momento uma das principais bases de dados de investigações internacionais, foram estudados os fatores encontrados na literatura que estimulam a criação de negócio e qual deles é mais importante. Para atingir esse objetivo, foram utilizadas técnicas de análise multivariada, em particular a análise fatorial e a análise de regressão linear múltipla. No segundo artigo, para estudar as variáveis apontadas na literatura que influenciam na decisão de se tornar empreendedor e empreendedor internacional, foi utilizada a base de dados Global Entrepreneurship Monitor - Adult Population Survey (GEM APS), com respostas de 60 países. Para atingir o propósito deste estudo, foram utilizados nove modelos de regressão logística. Os resultados do primeiro estudo sugerem que Políticas Governamentais, Financiamento, Impostos e I&D são todos relevantes e significativos na avaliação da prioridade dada pelo governo na criação de negócios, mas também nas empresas em crescimento. Mais detalhadamente, o fator mais importante para os especialistas avaliarem a importância dada pelo governo no apoio ao empreendedorismo são a qualidade das políticas governamentais definidas para ajudar este fenómeno. Na segunda pesquisa, os resultados mostram que todos os três tipos de variáveis, sendo elas demográficas e económicas, variáveis percetuais e ambiente macroeconómico nacional são significativas quando se avalia a decisão de se tornar empreendedor e empreendedor internacional, com foco no facto de que as variáveis que avaliam as perceções e variáveis que analisam o diferente ambiente de cada país ajudam a explicar melhor o modelo apresentado

The impact of the Online Knowledge Library: its use and impact on the production of the Portuguese academic and scientific community (2000-2010)

In recent years several initiatives have taken place to promote universal access to the Information and Knowledge Society. It was in this context that in 2004 the Online Knowledge Library (b-on) was launched in Portugal. With it, it became easier to get access to full text international scientific publications. This study aims to present and analyse some of the statistical and bibliometric indicators of the Portuguese scientific output seeking to evaluate its link it with b-on. It was analysed the usage of b-on resources by the public universities members of the consortium from 2004 to 2010, and we chose as sample the five universities with more downloads per FTE (full time equivalent).In addition to the usage data of the consortium, we used the Web of Science (WoS) from which we identified the articles indexed by the five Portuguese universities affiliated between 2000-2010.Thus, and through a quantitative methodology, we identified the scientific production per subject area, international cooperation and scientific journals with the highest number of published articles, among others. We conclude that the availability and access to electronic resources contributes to the increased of the scientific productivity of the universities and that the study and analysis of its use and output are essential

Game-Based Learning, Gamification in Education and Serious Games

Video games have become one of the predominant forms of entertainment in our society, but they have also impacted many other of its social and cultural aspects. The new forms of interaction and communication in online multiplayer games, the millions of viewers of professional e-sports competitions, the huge following of gaming streamers through channels such as Twitch, and the communities of players that are formed around a specific title are just some examples of the impact of games in everyday life today.[...]info:eu-repo/semantics/publishedVersio

Obras protegidas e obras não protegidas pelo direito autoral

Apresenta os diferentes casos de obras protegidas e não protegidas pelo direito autoral e de software. Vídeo da atividade 3, unidade 1, do Curso de Direitos Autorais, ofertado pela Universidade Aberta do SU

Limites do direito autoral e de software

Apresenta as principais informações sobre os limites da proteção autoral, abordando, também, os direitos de software. Presente na Atividade 2, Unidade 1 do Curso de Direitos Autorais ofertado pela Universidade Aberta do SUS

Criador e titular dos direitos patrimoniais de uma obra

Apresenta as diferenças entre o autor e titular dos direitos patrimoniais de uma obra, bem como a relação entre eles. Vídeo da atividade 4, unidade 1, do Curso de Direitos Autorais ofertado pela Universidade Aberta do SU