Objective of the first part is to find suitable definition of capital. For this reason is here made a brief summary of the history of economic thoughts about capital. Then is selected the proper definition according to previously defined requirements and criteria. Second part is based on the formerly founded definition of capital, which then helps to clarify the social capital definition. Moreover are in this following part analyzed main contributions to this topic. The final part focuses on the role of social capital in the development assistance. Here are described not only the results of the Official development assistance, but also some alternative approaches. At the end are proved by measuring and comparison the previously obtained theoretical outcomes. These are made on the case of sub-Saharan Africa countries.

Both Sweden and the European Union have set numerous goals to reduce the emission of greenhouse gasses. At the same time, regional growth is desired in most, if not all of Sweden’s counties. With economic- and population growth being essential for reaching this desire, there is a potential conflict brewing. Is it feasible to reduce the emission of greenhouse gasses while at the same time actively working on growing the economy and the population?This paper has explored this idea in Sweden largest counties Stockholm, Skåne and Västra Götaland. The development in these counties over the last decade or so show that reduced emissions and regional growth in fact have been compatible. Not only that, the county with the largest population, population growth and largest gross regional product, Stockholm, has also had the largest decrease in greenhouse gas emission over the period. The trend of the emission reductions in these three counties are also compatible with the Swedish and European emission targets. However, the trend does indicate the actual development of greenhouse gas emission over a longer period. The findings indicate that reduced greenhouse gas emission can and have coexisted with regional growth.

Tendo em vista o grande número de desastres naturais que têm afetado o mundo nos últimos anos e seus efeitos nocivos à economia e ao bem-estar social, é crescente o interesse da literatura, das organizações internacionais pertinentes e dos formuladores de políticas públicas, por avaliações dos impactos dessas catástrofes. O panorama brasileiro não é diferente, todos os anos o país é assolado por uma série de eventos naturais, que carecem de estudos sobre os seus diferentes impactos. Nesse contexto, o objetivo dessa pesquisa é avaliar, por meio de dois artigos, alguns dos efeitos socioeconômicos dos desastres naturais brasileiros. No primeiro estudo, foi verificado o impacto na atividade econômica dos municípios afetados, mensurada pelo Produto Interno Bruto (PIB) per capita, das chuvas e deslizamentos ocorridos na região Serrana do estado do Rio de Janeiro em janeiro de 2011. Esse evento, distinto aos demais desastres brasileiros, foi considerado em função do número de afetados e óbitos, o maior desastre natural do Brasil. Para investigar a relação de interesse, aplicou-se o método de controle sintético com procedimento de inferência baseado no descrito por Cavallo et al. (2013). Os resultados indicam que a catástrofe gerou efeitos negativos sobre o crescimento econômico dos municípios afetados. Já o segundo artigo, se propõe a avaliar a relação existente entre os desastres naturais hidrológicos e aspectos de saúde, como a morbimortalidade, nos municípios brasileiros. Essas catástrofes, apesar de não se tratarem do desastre mais comum, apresentam elevada recorrência e se destacam quando se trata do número de afetados e de óbitos. As possíveis implicações econômicas dos efeitos na saúde são variadas, perpassando pela redução da oferta de trabalho, perda de ativos, mudanças nas decisões alocativas das famílias, perda de capital humano, entre outras. Assim, o objetivo do segundo estudo é verificar os impactos regionais diretos e indiretos, de curto a longo prazo, dos eventos hidrológicos sobre a morbimortalidade por faixas etárias. Para isso, foi construído um painel de dados municipal com periodicidade mensal, de 2000 a 2012, com informações dos desastres e das taxas de mortalidade e morbidade. Os resultados indicam que, em curto prazo, se destacam os efeitos diretos como o aumento dos óbitos em virtude da exposição às forças da natureza e aos afogamentos. Em médio prazo, os impactos positivos se concentram, principalmente, nas taxas de morbidade em decorrência das doenças transmitidas pela água, com impactos relevantes na região Nordeste e sobre as crianças. Porém, dentre as enfermidades de médio prazo a mais crítica é a leptospirose. Essa doença é potencializada pelos desastres, tanto em relação às taxas de internações e atendimentos ambulatoriais quanto das taxas de mortalidade, em grande parte das regiões do Brasil. Já as doenças de longo prazo são pouco afetadas pelos eventos hidrológicos, com reflexos apenas para a morbidade em função da desnutrição na região Nordeste. Portanto, as evidências encontradas nesta tese indicam que os desastres naturais brasileiros demandam atenção, posto que geram uma série de impactos socioeconômicos nocivos no país. / In view of the large number of natural disasters that have affected the world in recent years and their detrimental effects on economy and social welfare, there is a growing interest in literature, relevant international organizations, and public policy makers on the impacts of these disasters. The Brazilian scenario is no different, every year the country is plagued by a series of natural disasters, which require studies on their different impacts. In this context, the objective of this research is to evaluate, through two articles, some of the socioeconomic effects of Brazilian natural disasters. In the first study, the impact in terms of economic growth of the affected municipalities was evaluated, measured by the Gross Domestic Product (GDP) per capita of the rains and landslides that occurred in the mountain region of Rio de Janeiro in January 2011. This event, distinct from the Brazilian disasters, was considered due to the number of people affected and deaths, it was the greatest natural disaster in Brazil. To investigate the relation of interest, the synthetic control method was applied with an inference procedure similar to that described by Cavallo et al. (2013). The results indicate that the event had negative effects on the economic growth of the affected municipalities. The second study seeks to evaluate the relationship between hydrological natural disasters and health aspects, such as morbidity and mortality, in Brazilian municipalities. These disasters, although not very common, present high recurrence and stand out when it comes to the number of people affected and deaths. The economic implications of health effects are varied, ranging from the reduction of job offers to loss of assets, changes in the allocative decisions of families, loss of human capital, among others. Thus, the objective of the second article is to verify the direct and indirect short- and long-term regional impacts of hydrological events on health on different age groups. For this purpose, a municipal data panel was compiled monthly with information from the disasters and mortality and morbidity rates from 2000 to 2012. The results indicate that, in the short term, the direct effects such as the increase of mortality rates due to exposure to forces of nature and to drownings stand out. In the medium term, the positive impacts are mainly on morbidity rates, due to waterborne diseases, with relevant impacts on the Northeast region and on children. However, of the medium-term diseases, the most critical is leptospirosis. This disease is strengthened by disasters, both in terms of hospitalization and outpatient care rates and mortality rates, in most of the regions of Brazil. Long-term diseases are little affected by hydrological disasters, with positive effects only on morbidity due to malnutrition in the Northeast region. Therefore, the evidence found in this thesis indicates that Brazilian natural disasters demand attention, since they generate a series of prejudicial socioeconomic impacts in the country.

Denna studies huvudsakliga syfte var att analysera sambandet mellan den svenska aktiemarknaden och guldpriset. Guldet har en viktig roll i finansmarknaden samtidigt som området saknar forskning i Sverige. Genom detta skapades ett intresse att studera aktiemarknadens samband med guldpriset i Sverige. Forskning kring aktiemarknadens samband till guldpriset är splittrad på global nivå där resultaten både kan vara negativa, positiva och en del där inget samband existerar. Studiens underliggande syfte var att analysera sambandet mellan den svenska aktiemarknaden och ränta, tillväxt och valutakurs.Studien är begränsad till att analysera kvartalsvis data inom 23 år mellan 1995 och 2018 i Sverige. Uppgifterna har sedan analyserats i en korrelationsanalys och en multipel linjär regressionsanalys. Resultaten visar att det finns ett negativt samband mellan guldpriset och aktiemarknaden. Resultatet visar också att det finns ett negativt samband mellan ränta och aktiemarknad. Studiens resultat visar också att det finns ett positivt samband mellan tillväxt och aktiemarknad. Slutligen visar resultatet att det inte finns något signifikant samband mellan valutakurs och aktiemarknad. / The main aim of this study was to analyze the relationship between gold price and the swedish stock market. Since gold has a major role in financial systems, the interest arose because of the lack of research on the gold price relationship to the stock market in Sweden. That as well as divided view of if gold price relationship is negative, positive or not related to the stock market, has created the interest. The underlying aim of the study was to analyze therelationship between interest rate, economic growth and exchange rate with the dependent variable stock market.This study was limited by analyzing quarterly data in 23 years between 1995 and 2018 on the swedish market. Data was collected and analyzed in statistical programs named Apple Numbers and SPSS. Data was analyzed in a correlation analysis and a regression analysis. The result showed that there is a negative relation between gold price and stock market. The result also shows that there is a negative relation between between interest rate and stock market. It also shows that there is a positive relation between economic growth and stockmarket. Lastly the result shows that there is no significant relation between exchange rate and stock market.

Cette thèse s’intéresse à l’étude de la relation entre l’ouverture financière et politique et la croissance économique dans les pays en voie de développement. En effet, réformes politiques et libéralisation financière étaient le mot d’ordre des instances financières internationales qui conditionnaient l’octroi des aides financières à l’application de certaines réformes en faveur de la démocratie, du respect des droits de l’Homme et de l’intégration à la sphère financière mondiale. Notre investigation empirique porte sur un échantillon de 108 pays en voie de développement entre 1984 et 2008 et fait appel aux techniques d’estimation de panel statiques et dynamiques et les nouveaux tests de causalité en panel hétérogène. Nos résultats, démontrent que la libéralisation financière en plus de son impact direct sur la croissance, agit positivement sur l’investissement, le commerce extérieur ainsi que la stabilité macroéconomique à travers une réduction de l’inflation. L’intégration financière favorise, aussi, le développement du secteur financier et du capital humain. Ailleurs, la démocratie, même si elle n’a pas d’impact direct significatif sur la croissance, semble influer positivement sur celle-ci de manière indirecte à travers le canal du commerce extérieur mais aussi du développement financier et la promotion du capital humain. Ailleurs, l’instabilité politique affecte négativement le développement économique de manière directe mais aussi de manière indirecte en diminuant les investissements et le commerce avec l’extérieur et en augmentant l’inflation. Finalement, nos résultats suggèrent l’existence d’une relation de causalité bidirectionnelle entre l’intégration financière et la démocratie. Cependant, la relation entre ouverture financière et stabilité politique est plus spécifique et dépend des caractéristiques régionales des pays. / The purpose of this thesis is to study the relationship between financial integration, political openness and growth in developing countries. In fact, political reforms and financial liberalization was the slogan of the international financial institutions which conditioned the granting of financial aid to the implementation of certain reforms in favor of democracy and more respect of human rights in addition to more financial integration. Our empirical investigation covers a sample of 108 developing countries between 1984 and 2008 and uses both static and dynamic panel data estimation in addition to the new causality test in heterogeneous panel. Our results show that financial liberalization positively impact growth directly and through indirect channel like Investment, trade and macroeconomic stability. It also favors financial development and promotes human capital. Even though, democracy doesn’t directly influence growth, it has an indirect positive effect on it through favoring international trade in addition to financial and human capital development. Otherwise, political instability negatively affects growth directly but also indirectly through decreasing investment and increasing inflation. Finally, our results suggest the existence of a bidirectional relationship between financial integration and democracy. In the other side, the relationship between financial integration and political stability is more specific and depend upon regionals characteristics of the country.

Questioning GDP as dominant indicator for economic performance has become commonplace. For economists economic policy always aims for a broader array of goals (like income, employment, price stability, trade balance) alongside income, with income being the priority objective. The Stiglitz-Sen-Fitoussi Commission argued for extending and adapting key variables of macroeconomic analysis. International organisations such as the EC, OECD, Eurostat and UN have proposed extended arrays of macroeconomic indicators (see 'Beyond GDP', 'Compendium of wellbeing indicators', 'GDP and Beyond', 'Green Economy', 'Green Growth', 'Measuring Progress of Societies'). Despite these high profile efforts, few wellbeing and environmental variables are in use in macroeconomic models. The reasons for the low uptake of socio-ecological indicators in macroeconomic models range from path dependencies in modelling, technical limitations, indicator lists being long and unworkable, choices of indicators appearing ad hoc and poor data availability. In this paper we review key approaches and identify a limited list of candidate variables and - as much as possible - offer data sources. / Series: WWWforEurope

Hållbar utveckling har blivit ett begrepp på allas läppar under det senaste 60 åren. Långt ifrån alla är överens om vad en hållbar utveckling innebär men samhällets uppbyggnad, utveckling och förnyelse måste ske på ett hållbart sätt. Globaliseringen påverkar det hållbara utvecklingsarbetet på en global, nationell och lokal nivå. Syftet med denna studie är att beskriva och förklara tillväxtperspektivet i relation till ekonomiska och ekologiska värden inom Malmö kommun. Arbetet ser till översiktsplanen där målet om en hållbar utveckling ska förhållas till. Studien ser även till att utforska hur den sociala hållbarheten kommer till uttryck i den fysiska planeringen. Den teoretiska referensram som studien förhåller sig till består av teorier och tidigare forskning som genom sina polariserade synsätt beskriver hållbar utveckling och hur dessa ska appliceras i planeringen. Studien har en kvalitativ utgångspunkt där primärdata samlats in i form av intervjuer. Genom ett målstyrt urval har endast relevanta planerare valts för empirisk insamling. Ett induktivt tillvägagångsätt har använts för studien där slutsatser arbetats fram utifrån det empiriska materialet. Efter analys av insamlad empiri påvisar studiens slutsats att det ekologiska hållbarhetsperspektivet påverkas av ekonomisk tillväxt genom exploatering och ökade arbetstillfällen. Det visar sig att grönstrukturen och höga naturvärden åsidosätts när det finns mål för staden att växa och bli attraktiv. Beträffande hur det sociala hållbarhetsvärdet speglas i planeringsarbetet visar resultatet att den sociala dimensionen har en primär prioritering. Detta kommer till uttryck i planeringsarbetet genom aktiva medborgardialoger, skapande av nya arbetstillfällen och utvecklingsarbetet för en funktionsblandad stad. / The term sustainable development has become an important concept during the recent decades. Far from everyone agrees on what sustainable development entails, however,society’s growth, development and renewal should take pace in a sustainable way.Globalization impacts on the work within sustainable development on a global, national and local level. The purpose of this study is to describe and explain the growth perspective in relation to the economic and ecological values within the municipality of Malmö. The study reviews the comprehensive plan where the goal of sustainable development should be addressed. The study also looks at how the social sustainability is described in the spatial planning. The theoretical frame of reference that this study relates to consists of theories and previous research which through their opposed views describes sustainable development and how these should be applied in the planning process. This study has a qualitative basis where primary data has been collected in the form of interviews. Only relevant planners have been selected through a targeted selection, for the empirical collection. An inductive approach has been used for this study in which the conclusions have been developed based upon on the empirical material. The study’s conclusion was based upon analysis of the empirical material, which showed that the ecological sustainability perspective is affected by economic growth through exploitation and increased job opportunities. The conclusion also shows that green structures and places with high natural values are neglected when there are goals for the city to grow and become more attractive. As to how the social sustainability is reflected in the planning process, the results shows how the social dimension has primary priority. This is reflected in the planning through active citizen dialogues, the creation of new jobs and the development of a mixed functioning city.

Cette thèse a pour objectif d‟étudier les déséquilibres globaux avec un modèle multinational empirique en stock-flux cohérent. La dernière crise financière de 2008, qui a été suivie par une crise économique mondiale, a reconfiguré l‟évolution de nombreuses variables macroéconomiques. Les déséquilibres globaux se sont fortement résorbés et le maintien de cet ajustement résulte essentiellement de facteurs macroéconomiques conjoncturels, en raison de l‟effondrement de la demande. Compte tenu des changements majeurs durant ces dernières années, nous examinons dans notre recherche les perspectives de croissance future aux États-Unis, en Chine et en Europe dans le cas des poursuites des politiques économiques actuelles, à l‟horizon 2030. Pour cela, nous utilisons d‟abord le modèle C.A.M développé par F. Cripps, ensuite nous estimons notre propre modèle multinational à cinq régions. L‟analyse se focalise sur l‟évolution des déséquilibres globaux, la croissance économique et le taux de change. Les projections du scénario de base de notre modèle multinational, dans le cas de la poursuite des politiques actuelles, montrent que l‟ajustement des déséquilibres externes est maintenu au prix de déséquilibres internes. / This thesis aims to study the global imbalances with an empirical multinational stock-flow consistent model. The last financial crisis, which was followed by a global economic crisis, has reconfigured the evolution of many macroeconomic variables. Global imbalances have strongly resorbed and this continuing adjustment results mainly from cyclical macroeconomic factors, due to the collapse in demand. Given the major changes in the recent years, we analyze in our research growth prospects in the United States, in China and Europe in the case of the continuation of current economic policies, over the period running up to 2030. For that purpose, we first use the C.A.M model developed by F. Cripps. We then estimate our own five bloc multinational model. We focus on analyzing the evolution of global imbalances, the economic growth and the exchange rate. The baseline scenario projections of our multinational model, in the case of the continuation of the current economic policies, show that the adjustment of the external imbalances is maintained at the cost of internal imbalances.

Within a panel data context with fixed effects method, using data on a sample of 40 lower- middle income economies, this paper investigates whether and to what extent FDI stimulates economic growth over the period 2007-2017. The main finding of this paper highlights the complementary effects between FDI and education, suggesting that a certain level of education must be reached in order for FDI to contribute positively on economic growth. Further, the level of education in this sample set is below the level that is considered as adequate in order to spur economic growth and thus this affects the absorptive capacity. This paper can only confirm that there is a certain association between FDI and economic growth and cannot confirm the widespread belief that FDI stimulates economic growth due to that the estimated models more often than not provided insignificant results.

Mesmo sendo uma condição indispensável para que ocorra o desenvolvimento humano, o crescimento econômico nem sempre é convertido eficientemente em qualidade de vida pelos Estados-nação. Deste modo, o presente trabalho teve o objetivo de mensurar a eficiência social dos países, que expressa à capacidade de um Estado-nação converter sua riqueza produzida em qualidade de vida, e de determinar fatores que possam explicá-la. Como hipóteses de pesquisa para esses fatores, foram considerados: (i) a atuação do Estado, do Mercado e da Sociedade Civil; (ii) o estoque de capital físico, natural, humano, cultural, social e institucional; (iii) a presença de liberdades política, econômica e de expressão; (iv) o efeito do próprio desenvolvimento humano; e (v) outras características socioeconômicas dos países. Para que esse objetivo fosse alcançado, foram utilizadas as técnicas: (a) Análise Envoltória de Dados (DEA), em sua forma padrão, cruzada, invertida e tripla; (b) regressão linear simples; (c) clusterização por eficiência; (d) método k-means; e (e) testes estatísticos de diferença entre médias. Os principais resultados obtidos indicaram que as ex-repúblicas soviéticas e os países de passado socialista foram os que mais se destacaram na eficiência social; já os países desenvolvidos, apesar de apresentarem elevados indicadores sociais, sendo altamente eficazes, não se destacaram na eficiência; os países do sul da África, por sua vez, além de possuírem a pior condição social, foram também os mais ineficientes. Quanto aos fatores explicativos da eficiência social, concluiu-se que possuem impacto positivo: (1) a taxa básica de juros; (2) a taxa bruta de investimentos; (3) a taxa de estradas pavimentadas; (4) a taxa de alfabetização; (5) o número de médicos per capita; (6) a liberdade fiscal; (7) além de quase todos os outputs sociais utilizados na análise de eficiência, com exceção da inflação. Por outro lado, os fatores que se relacionam negativamente com a eficiência são: (a) o saldo da balança corrente; (b) a quantidade de reservas de petróleo; (c) o PIB per capita; (d) o nível de caridade; (e) a ausência de corrupção; (f) a liberdade de investimento e financeira; (g) a liberdade política e de expressão; (h) a taxa de fecundidade na adolescência; (i) a taxa de infectados com HIV; e (j) o nível de emissões de \'CO IND.2\'. Apesar de alguns resultados encontrados terem sido bastante polêmicos, afastando-se tanto do senso comum quanto de teorias estabelecidas, acredita-se que o presente trabalho contribuiu para lançar luz sobre um novo e fértil campo de pesquisa, denominado eficiência social. / Despite being a prerequisite for occurring development, economic growth is not always fully converted into welfare or quality of life, since countries have different levels of efficiency in carrying out this conversion. Thus, this study aimed to determine the efficiency of Nation-states to convert their wealth produced in quality of life (social efficiency) and, subsequently, to investigate the impact in this efficiency of the factors: (i) performance of the State, Market and Civil Society; (ii) stock of physical , natural, human, cultural, social and institutional capital; (iii) political , economic and expression freedoms; (iv) human development itself; and (v) other socioeconomic characteristics of the countries. To accomplish this goal, we have used: (a) Data Envelopment Analysis (DEA) in its standard, cross, reversed and triple form; (b) simple linear regression; (c) clustering for efficiency; (d) k-means method; and (e) statistical tests of differences between means. The main results indicate that the ex-Soviet republics and the countries of the socialist past were most outstanding in social efficiency; whereas the developed countries, although having high social indicators, i.e., high efficacy, not were excelled in efficiency; the countries of southern Africa, in turn, have the worst social condition, and were also the most inefficient. As for the explanatory factors of social efficiency, it was concluded that had positive impact the variables: (1) prime rate; (2) gross rate of investment; (3) rate of paved roads; (4) literacy rate; (5) number of doctors per capita; (6) fiscal freedom; (7) and the most social indicators that were used in the analysis of efficiency, with the exception of inflation. On the other hand, the factors that are negatively related to efficiency are: (a) current account balance; (b) amount of oil reserves; (c) GDP per capita; (d) level of charity; (e) corruption absence; (f) freedom of investment and financing; (g) political freedom and expression; (h) adolescent fertility rate; (i) the rate of HIV-infected; and (j) level of \'CO IND.2\' emissions. Although some results have been quite controversial, away from both common sense and established theories, it is believed that this work has helped to shed light on a new and fertile field of research called social efficiency.