Labor costs and productivity trends in selected Brazilian manufacturing industries: An internat. comparison

The analysis focuses on the iron and steel industry, the motor vehicle and the non-electrical machinery industry as well as the manufacture of wearing apparel and footwear. The iron and steel industry and the motor vehicle industry were chosen, because they are characterized by low to middle skill level, capital-intensive production processes (Wolter 1974, 66-67; Walter 1982, 1; Humphrey 1982, 101; Kageyama, 1984, 25). The non-electrical machinery industry was selected, because it depends traditionally more on skilled labor, and less on physical capital (Dick 1981, 30; UNIDO 1984, 5 and 60). Finally the wearing apparel and the footwear industries represent the case of labor-intensive production processes that draw mainly on unskilled labor (Pearson 1983, 65; ILO 1979, 30). Throughout the analysis all manufacturing is used as a common benchmark. Reference is made to major competing newly industrialized countries, i.e., South Korea, Taiwan, Hong Kong, and Mexico, as well as to industrialized countries such as the United States, Spain, Japan, and the Federal Republic of Germany. Section II will clarify the most important conceptual and methodological issues and some shortcomings of previous labor cost analyses, and lay the ground for the empirical investigation pursued in this study. Partial findings of previous studies on Brazilian labor costs will be referred to as complementary information in the empirical part of the study (Section III). In Section IV the major results of the analysis will be summarized.

International perspectives of the European Monetary System

The none too firmly established position of the IMF with regard to the realization of the objectives of its Articles of Agreement has been additionally impaired by the establishment of the European Monetary System. From an international point of view a revision of the present EMS concept would seem to be called for in order to prevent the credibility of the IMF and the objectives of its Agreement being called in question

Selective and unspecific expropriation of foreign direct investments: Empir. evidence and implications for the debt crisis

The persistence of the.international debt crisis has given rise to considerations that foreign direct investment (FDD should play a larger role in the financing of less developed countries (LDCs) in the future. FDIs may provide external financing for developing countries even in times when new lending is restricted due to high credit risks. Flexible payment schedules and the extended property rights may differentiate FDIs from international loans and provide shelter against high country risks. However, FDIs are subject to sovereign risk as well. The option of sovereign states to defer loan repayments as soon as the.costs of contract fulfillment exceed the benefits has its counterpart in expropriations of FDI. The potential of substituting FDI for debt depends on the attitude of the LDCs1 governments towards FDI. A larger role for FDI, especially in times of restricted new lending, will only be possible if the political and economic situation of the borrowing country that induces creditors to expect a higher risk of willful default does not increase the risk of expropriations at the same time.

Labor costs and productivity trends in selected Brazilian manufacturing industries: An international comparison

The analysis focuses on the iron and steel industry, the motor vehicle and the non-electrical machinery industry as well as the manufacture of wearing apparel and footwear. The iron and steel industry and the motor vehicle industry were chosen, because they are characterized by low to middle skill level, capital-intensive production processes (Wolter 1974, 66-67; Walter 1982, 1; Humphrey 1982, 101; Kageyama, 1984, 25). The non-electrical machinery industry was selected, because it depends traditionally more on skilled labor, and less on physical capital (Dick 1981, 30; UNIDO 1984, 5 and 60). Finally the wearing apparel and the footwear industries represent the case of labor-intensive production processes that draw mainly on unskilled labor (Pearson 1983, 65; ILO 1979, 30). Throughout the analysis all manufacturing is used as a common benchmark. Reference is made to major competing newly industrialized countries, i.e., South Korea, Taiwan, Hong Kong, and Mexico, as well as to industrialized countries such as the United States, Spain, Japan, and the Federal Republic of Germany. Section II will clarify the most important conceptual and methodological issues and some shortcomings of previous labor cost analyses, and lay the ground for the empirical investigation pursued in this study. Partial findings of previous studies on Brazilian labor costs will be referred to as complementary information in the empirical part of the study (Section III). In Section IV the major results of the analysis will be summarized

A Novel Technique for Region and Linguistic Specific nTMS-based DTI Fiber Tracking of Language Pathways in Brain Tumor Patients

Navigated transcranial magnetic stimulation (nTMS) has recently been introduced as a non-invasive tool for functional mapping of cortical language areas prior to surgery. It correlates well with intraoperative neurophysiological monitoring (IONM) findings, allowing defining the best surgical strategy to preserve cortical language areas during surgery for language-eloquent tumors. Nevertheless, nTMS allows only for cortical mapping and postoperative language deficits are often caused by injury to subcortical language pathways. Nowadays, the only way to preoperatively visualize language subcortical white matter tracts consists in DTI fiber tracking (DTI-FT). However, standard DTI-FT is based on anatomical landmarks that vary interindividually and can be obscured by the presence of the tumor itself. It has been demonstrated that combining nTMS with DTI-FT allows for a more reliable visualization of the motor pathway in brain tumor patients. Nevertheless, no description about such a combination has been reported for the language network. The aim of the present study is to describe and assess the feasibility and reliability of using cortical seeding areas defined by error type-specific nTMS language mapping (nTMS-positive spots) to perform DTI-FT in patients affected by language-eloquent brain tumors. We describe a novel technique for a nTMS-based DTI-FT to visualize the complex cortico- subcortical connections of the language network. We analyzed quantitative findings, such as fractional anisotropy values and ratios, and the number of visualized connections of nTMS-positive spots with subcortical pathways, and we compared them with results obtained by using the standard DTI-FT technique. We also analyzed the functional concordance between connected cortical nTMS- positive spots and subcortical pathways, and the likelihood of connection for nTMS-positive vs. nTMS-negative cortical spots. We demonstrated, that the nTMS-based approach, especially what we call the “single-spot” strategy, is able to provide a reliable and more detailed reconstruction of the complex cortico-subcortical language network as compared to the standard DTI-FT. We believe this technique represents a beneficial new strategy for customized preoperative planning in patients affected by tumors in presumed language eloquent location, providing anatomo-functional information to plan language- preserving surgery

Selective and unspecific expropriation of foreign direct investments: Empirical evidence and implications for the debt crisis

The persistence of the.international debt crisis has given rise to considerations that foreign direct investment (FDD should play a larger role in the financing of less developed countries (LDCs) in the future. FDIs may provide external financing for developing countries even in times when new lending is restricted due to high credit risks. Flexible payment schedules and the extended property rights may differentiate FDIs from international loans and provide shelter against high country risks. However, FDIs are subject to sovereign risk as well. The option of sovereign states to defer loan repayments as soon as the.costs of contract fulfillment exceed the benefits has its counterpart in expropriations of FDI. The potential of substituting FDI for debt depends on the attitude of the LDCs1 governments towards FDI. A larger role for FDI, especially in times of restricted new lending, will only be possible if the political and economic situation of the borrowing country that induces creditors to expect a higher risk of willful default does not increase the risk of expropriations at the same time