Foreign direct investment and institutional reform : evidence and an application to Portugal

We examine the role of geographic, economic, and institutional factors in attracting Foreign Direct Investment (FDI) in Europe, using a cross-section of inward bilateral investments. We estimate and assess the expected benefits, the required reform efforts, and the efficiency of reform options corresponding to a con- vergence of Portuguese institutions to EU standards. We conclude that improving home institutions is likely to have a quantitatively very significant role in attracting FDI. Geographical and market size factors also play a role. Reforms promoting the independence of financial institutions and a leaner bureaucracy, lowering political risk and corruption, and improving the investment code may significantly affect the amount of bilateral inward FDI that is targeted to Portugal.info:eu-repo/semantics/publishedVersio

Trace element fingerprinting of cockle (Cerastoderma edule) shells can reveal harvesting location in adjacent areas

Determining seafood geographic origin is critical for controlling its quality and safeguarding the interest of consumers. Here, we use trace element fingerprinting (TEF) of bivalve shells to discriminate the geographic origin of specimens. Barium (Ba), manganese (Mn), magnesium (Mg), strontium (Sr) and lead (Pb) were quantified in cockle shells (Cerastoderma edule) captured with two fishing methods (by hand and by hand-raking) and from five adjacent fishing locations within an estuarine system (Ria de Aveiro, Portugal). Results suggest no differences in TEF of cockle shells captured by hand or by hand-raking, thus confirming that metal rakes do not act as a potential source of metal contamination that could somehow bias TEF results. In contrast, significant differences were recorded among locations for all trace elements analysed. A Canonical Analysis of Principal Coordinates (CAP) revealed that 92% of the samples could be successfully classified according to their fishing location using TEF. We show that TEF can be an accurate, fast and reliable method to determine the geographic origin of bivalves, even among locations separated less than 1 km apart within the same estuarine system. Nonetheless, follow up studies are needed to determine if TEF can reliably discriminate between bivalves originating from different ecosystems

Microsomal oxidative stress induced by NADPH is inhibited by nitrofurantoin redox biotranformation

Nitrofurantoin is used in the antibacterial therapy of the urinary tract. This therapy is associated with various adverse eff ects whose mechanisms remain unclear. Diverse studies show that the nitro reductive metabolism of nitrofurantoin leads to ROS generation. This reaction can be catalyzed by several reductases, including the cytochrome P450 (CYP450) reductase. Oxidative stress arising from this nitro reductive metabolism has been proposed as the mechanism underlying the adverse eff ects associated with nitrofurantoin. There is, however, an apparent paradox between these fi ndings and the ability of nitrofurantoin to inhibit lipid peroxidation provoked by NADPH in rat liver microsomes. This work was aimed to show the potential contribution of diff erent enzymatic systems to the metabolism of this drug in rat liver microsomes. Our results show that microsomal lipid peroxidation promoted by NADPH is inhibited by nitrofurantoin in a concentration-dependent manner. This suggests that the consumption of NADPH in microsomes can be competitively promoted by lipid peroxidation and nitrofurantoin metabolism. The incubation of microsomes with NADPH and nitrofurantoin generated 1-aminohidantoin. In addition, the biotransformation of a classical substrate of CYP450 oxidative system was competitively inhibited by nitrofurantoin. These results suggest that nitrofurantoin is metabolized through CYP450 system. Data are discussed in terms of the in vitro redox metabolism of nitrofurantoin

Ectoparásitos en Palomas Columba livia Comercializadas en un Mercado del Distrito de San Martín de Porres, Lima, Perú

The aim of this study was to determine the prevalence, average intensity and mean abundance of ectoparasites in domestic pigeons (Columba livia). A total of 29 specimens were analyzed (17 males and 12 females). External surface of head, neck, chest, back and wings were examined, determining that 93.1% (14.9 ± 15.8 of total mean abundance) of pigeons were infected with one or more ectoparasites. All males and 83.3% of females were parasitized. Seven species of ectoparasites were identified, where five correspond to Order Mallophaga (Columbicola columbae [82.8%], Menopon gallinae [48.3%] Goniodes gigas [31%], Menacanthus stramineus [17.2%] and Lipeurus caponis [6.9%]), one to Order Diptera (Pseudolynchia canariensis [10.3%]), and one to Order Siphonapetra (Echidnophaga gallinacea [3.4%]). The largest number of mallophagans was found on the feathers of the wings and chest. Among associations, the monoparasitism was present in 28%, biparasitism in 28%, triparasitism in 34% and tetraparasitism in 3% of the pigeons. C. columbae was the most prevalent ectoparasite (82.8%). Besides, Menacanthus stramineus and Lipeurus caponis are reported for the first time as ectoparasites of Columba livia in Peru.El objetivo del presente trabajo fue determinar la prevalencia, intensidad media y abundancia media de ectoparásitos en palomas domésticas (Columba livia) comercializadas en un mercado de la ciudad de Lima, Perú. Se analizaron 29 ejemplares (17 machos y 12 hembras). Se inspeccionó la superficie externa de la cabeza, cuello, pecho, dorso y alas, determinando que el 93.1% (14.9 ± 15.8 de abundancia media total) de las palomas estuvieron infestadas con uno o más ectoparásitos; asimismo, el 100 de los machos y 83.3% de las hembras estuvieron parasitados. Se identificaron siete especies de ectoparásitos, de los cuales cinco corresponden al Orden Mallophaga (Columbicola columbae [82.8%], Menopon gallinae [48.3%] Goniodes gigas [31%], Menacanthus stramineus [17.2%] y Lipeurus caponis [6.9%]), uno al Orden Diptera (Pseudolynchia canariensis [10.3%]), y uno al Orden Siphonapetra (Echidnophaga gallinacea [3.4%]). El mayor número de malófagos fue encontrado sobre las plumas de las alas y el pecho. En las asociaciones de parásitos, se encontró 28% de monoparasitismo, 28% de biparasitismo, 34% de triparasitismo y 3% de tetraparasitismo. C. columbae fue el ectoparásito con mayor prevalencia (82.8%). Además, se reporta por primera vez a Menacanthus stramineus y Lipeurus caponis como ectoparásitos de C. livia en el Perú

Credit cycles, credit risk and prudential regulation.

This paper finds strong empirical support of a positive, although quite lagged, relationship between rapid credit growth and loan losses. Moreover, it contains empirical evidence of more lenient credit standards during boom periods, both in terms of screening of borrowers and in collateral requirements. We find robust evidence that during upturns, riskier borrowers get bank loans, while collateralized loans decrease. We develop a regulatory prudential tool, based on a countercyclical, or forward-looking, loan loss provision that takes into account the credit risk profile of banks' loan portfolios along the business cycle. Such a provision might contribute to reinforce the soundness and the stability of banking systems. JEL Codes: E32, G18, G21. * This paper is the sole responsibility of its authors, and the views represented here do not necessarily reflect those of the Banco de España. We thank R. Repullo and J. M. Roldán for very fruitful and lively discussions about prudential banking supervisory devices. We are also grateful for the detailed comments provided by V. Salas; H. Shin, the editor; J. Segura; an anonymous referee; and participants at the BCBS/Oesterreichische Nationalbank Workshop; the Bank of England workshop on the relationship between financial and monetary stability