Liberalization, financial vulnerability and instability : an analysis of the Brazilian economy

O artigo analisa a economia brasileira e sua vulnerabilidade externa (no período recente) a partir do referencial teórico de Minsky (1982, 1982b e 1986).Observa-se a tendência recorrente de ampliação da vulnerabilidade e o movimento cíclico dessa tendência não associada a regimes cambiais específicos, mas ampliada pela falta de controles cambiais. Nota-se, também, que o aprofundamento da vulnerabilidade externa da economia brasileira deve-se, sobretudo, ao comportamento da conta financeira, que compensou, com sobras, os resultados positivos obtidos pela balança comercial. Tais elementos conduzem a observação de uma tendência à ampliação da instabilidade nas esferas financeira e real dessa economia.The paper analyses the Brazilian economy and its external vulnerability based on Minsky's theoretical approach. The continuous tendency increasing vulnerability and its cyclical movement, independent of the exchange rate regime, is observed. The paper points out that this tendency has been, in recent periods, mainly associated with the behaviour of the financial account, which compensated for the positive results of the country's balance of trade. All of these elements lead to the observation of an increased tendency towards increasing instability regarding the financial and real spheres of the Brazilian economy

A high-resolution Holocene record on the Southern Brazilian shelf: 1 paleoenvironmental implications 2 3

ABSTRACT 22 A high resolution multi-proxy record has been used to determine environmental changes during the Holocene on 23 the southern Brazilian shelf. Present oceanographic conditions reveal wind and freshwater input as determinants 24 of short-term productivity changes in the study area. Thus, magnetic susceptibility and grain size parameter 25 variations, together with proxies of productivity (organic carbon, carbon accumulation rate, Ba, Sr and Ca 26 content, Ba/Al, Ba/Ti and Al/Ti ratios) were analyzed and compared with proxies of redox condition (V/T

Response of Benthic Foraminifera to organic matter quantity and quality and bioavailable concentrations of metals in Aveiro Lagoon (Portugal)

This work analyses the distribution of living benthic foraminiferal assemblages of surface sediments in different intertidal areas of Ria de Aveiro (Portugal), a polihaline and anthropized coastal lagoon. The relationships among foraminiferal assemblages in association with environmental parameters (temperature, salinity, Eh and pH), grain size, the quantity and quality of organic matter (enrichment in carbohydrates, proteins and lipids), pollution caused by metals, and mineralogical data are studied in an attempt to identify indicators of adaptability to environmental stress. In particular, concentrations of selected metals in the surficial sediment are investigated to assess environmental pollution levels that are further synthetically parameterised by the Pollution Load Index (PLI). The PLI variations allowed the identification of five main polluted areas. Concentrations of metals were also analysed in three extracted phases to evaluate their possible mobility, bioavailability and toxicity in the surficial sediment. Polluted sediment in the form of both organic matter and metals can be found in the most confined zones. Whereas enrichment in organic matter and related biopolymers causes an increase in foraminifera density, pollution by metals leads to a decline in foraminiferal abundance and diversity in those zones. The first situation may be justified by the existence of opportunistic species (with high reproduction rate) that can live in low oxic conditions. The second is explained by the sensitivity of some species to pressure caused by metals. The quality of the organic matter found in these places and the option of a different food source should also explain the tolerance of several species to pollution caused by metals, despite their low reproductive rate in the most polluted areas. In this study, species that are sensitive and tolerant to organic matter and metal enrichment are identified, as is the differential sensitivity/tolerance of some species to metals enrichment.CNPq [401803/2010-4]; [PEst-OE/CTE/UI4035/2014]info:eu-repo/semantics/publishedVersio

A fragilidade externa da economia brasileira na segunda fase do plano real (1999-2006) : uma abordagem minskiana

Dissertação (mestrado)—Universidade de Brasília, Departamento de Economia, 2007.Desde o colapso do acordo de Bretton Woods e a subseqüente livre flutuação do dólar, a economia mundial tem experimentado períodos de maior volatilidade e passado por um crescente processo de financeirização, onde a conta de capitais vem ganhando terreno sobre as transações correntes e provocando ciclos de elevação e contração da liquidez internacional. Nesse contexto, busca-se avaliar como se tem comportado a vulnerabilidade externa da economia brasileira nesta segunda fase do Plano Real, o período de câmbio flutuante, que se inicia em janeiro de 1999. Para tanto, é feita uma análise econômica à luz da hipótese de fragilidade financeira de Hyman Minsky. _______________________________________________________________________________________ ABSTRACTSince the collapse of the Bretton Woods agreement and the subsequent free floatation of the dollar, the world economy has been experiencing times of greater volatility amid an escalating financing process, where capital account movements have prevailed over trade account, fostering cycles of expansion and contraction of international liquidity. Under such scenario, our aim is to evaluate how the external vulnerability of the Brazilian economy has behaved during this second stage of the Real Plan, the period of free flotation of the exchange rate, which began early in 1999. This analysis is done in light of Minsky´s Financial Instability Hypothesis

Anatomical and physiological bases of sugarcane tolerance to manganese toxicity

Sugarcane is generally cultivated in low fertility acid soils that are prone to the occurrence of manganese (Mn) toxicity. However, the use of genotypes more tolerant to such limiting condition could enhance plant performance in poor soils. Therefore, the aims of this study were to add insights into the mechanisms driving sugarcane adaptation to Mn stress by testing the hypothesis that genotypes with higher tolerance maintain improved ultrastructure of leaf cell organelles (i.e., chloroplast and nucleus) and photosynthetic capacity under high Mn concentrations. Accordingly, six sugarcane varieties were grown in sand and fertigated with two Mn concentrations (control = 10 μM; and toxicity = 500 μM). After growing for 110 days under both conditions, the plants were harvested to estimate dry mass production and tissue Mn concentrations. Leaf gas exchange and chlorophyll fluorescence were assessed in mature leaves that were further evaluated for antioxidant metabolism and cell organelle ultrastructure. Sugarcane varieties exhibited differential tolerance to Mn stress, and based on the relative total dry mass production of plants growing under Mn toxicity versus the control, tolerant (mean relative growth of 98%) and sensitive (mean relative growth of 71%) genotypes could be identified. Our results suggested that the different capabilities of these varieties in sustaining photoassimilate supply for biomass production under Mn stress were explained by leaf area formation rather than photosynthetic rate per unit of leaf area as tolerant varieties presented reduction in photosynthesis. Moreover, as revealed by the transmission electronic microscopy analysis, tolerant varieties were able to sustain greater integrity in the nucleus of the mesophyll cells under Mn stress than sensitive varieties, improving leaf growth and canopy development. Taken together, our results revealed the mechanisms underlying sugarcane tolerance to Mn toxicity, contributing to the identification of strategies aimed at developing genotypes better adapted to low fertility acid soils, with subsequent positive effects on crop yield stabilit132100112CONSELHO NACIONAL DE DESENVOLVIMENTO CIENTÍFICO E TECNOLÓGICO - CNPQSem informaçã