The Sustainable Tourism for the Europe of the Third Millennium

Il contributo fornisce molte immagini e grafic

Thinking Outside the Box: Strategies and Examples for in the Preservation and Development of Heritage

This paper present examples of positive economic and social impacts of cultural projects and mentions an interpretation of the positive interaction between development and culture. Several best practices are explored for each single topic and guidelines for future IDB projects are suggested. This paper complement the document: Thinking Outside the Box: Arguments for IADB's Involvement in the Preservation and Development of Heritage in which were discussed topics related to the role of culture in development and the social impact of culture.Culture & Arts, Heritage Conservation, Urban Development

Options and Efficiency in Spaces of Bounded Claims

Supplementing a finite state-space static securities market with options obtains market completeness. This study concludes that options maintain the same spanning power in the space of bounded payoff topologized by its duality with the space of the state price densities.spanning; options; market completeness; efficiency

Riding the Yield Curve: A Spanning Analysis

The average return on long-term bonds exceeds the return on short-term bills by a large amount over short investment horizons. A riding-the-yield-curve investment strategy takes advantage of the higher returns on longer term bonds. This strategy involves the purchase of bonds with maturities longer than the investment horizon and the sale of these bonds, before they mature, at the end of the investment horizon. Most of the literature that evaluates this strategy compares only ex post average returns or Sharpe ratios. In this paper, we use spanning tests to provide formal statistical evidence on the benefits of investing in long bonds when the investment horizon is short. The results for both the US and Canada indicate that an investor with a short horizon is better off investing in short-term debt instruments than long-term bonds.North American bond market; portfolio diversification; mean-variance spanning; yield curve

Spanning with Zero-Price Investment Assets

Regression-based testing techniques has long been used to quantify whether the efficient frontier of a set of assets spans the frontier of a larger collection of investments. This work derives regression-based spanning tests for the case in which the investment possibilities set contains, or is constituted by, zero-investment assets. An empirical example illustrates that ignoring the zero-cost qualification of these assets might lead to wrong spanning propositions.mean-variance spanning; diversification benefits; portfolio choice; futures markets

The sustainable Tourism for the Europe of the third millennium

The number of travellers was over 700 million in 2002; a three hundred percent increase in one generation alone. To this figure, we must add an estimated 10 fold increase in the number of domestic travellers. This amount is expected to reach 1.5 billion by 2020, 1.2 of which will be inter-regional and 0.4, long haul travellers. Europe will continue to dominate with a forecast of 717 million tourists, followed by East Asia and Pacific with 397 and the Americas with 282. This is even more significant if we examine historical data which documented 300 million foreign travellers only 20 years ago, when it was estimated that there had been a ten fold increase from the fifties. Tourism in Europe is serviced by about two million companies, especially SMEs that contribute 5% both to the GNP and workforce (COM (2001) 665, p. 4). Europe, therefore, plays a very important role in world tourism, a role which is expected to rise even more than the average economy, even though, with the new EU countries, the economic percentage increase will drop; indeed, whilst in 1995 European tourism accounted for 60% of foreign tourism, by 2020 this percentage is expected to fall to 46%. This is supported by the fact that there appears to be a levelling off of hitherto popular European destinations in favour of emerging countries. In other words, during the ten year period from 1990 to 2000, although world tourism rose by 4.2%, European tourism increased by only 3.4%. Even more evident is the situation in the last three years where Europe has seen an increase of 2.2% against an increase of only 1% in the rest of the world; this is as a consequence of recent political crises and the rise in terrorism. Within Europe itself, there are significant regional discrepancies. Hidden within the afore-mentioned figure of 2.2%, resides a drop of 2.6% in tourism in western Europe, whilst, during the same period, East Central Europe has seen a rise of 9.6% and Southern Europe, 4.4%. This highlights the importance of the new EU entrants who have an indisputable wealth of natural and historical assets to offer

Mirando al 92, el fin de una utopía educativa: el desarrollismo en América Latina.

Sin resume

Environmental Education: the Italian perspective.

Sin resume

La Policía Federal Argentina : la construcción de los “otros”

Nos interesa mostrar cómo la Policía Federal Argentina (PFA) construye su identidad en sintonía con los imaginarios sociales de cada época. Abordaremos la historia de esta institución a través de lo que la misma fue construyendo en cada momento como “otros”. Nuestro objetivo es identificar momentos en su historia que nos permitan mostrar sus relaciones con la sociedad civil y cómo la identidad policial se construye socialmente. Pondremos en relación cada momento con sus condiciones de producción, vinculando las políticas de gobierno y el accionar policial. Analizaremos lo que en cada momento se entendió, por parte del Estado, como clases peligrosas. En este sentido, planteamos como necesario vincular el surgimiento del Estado con el gesto violento de su fundación, entendiendo la violencia como constitutiva de la práctica política y fundadora de la juridicidad estatal. Cada momento histórico determinará quiénes son los “otros” pasibles de ser sancionados, reprimidos, encarcelados y muertos por el Estado

Avaliação social: uma prática dialógica para construção de sentidos

O Instituto Lina Galvani possuía uma demanda antiga de mensurar o impacto das ações do Instituto, em propostas de desenvolvimento comunitário. Esta publicação tem o objetivo de apresentar a utilização de métricas e indicadores relacionados com o propósito de uma apreensão mais real e possível dos impactos gerados pelas ações do Instituto a partir da formação em práticas colaborativas e dialógicas, certificada pelo Houston Galveston Institute e pelo Taos Institute