Malgré les importants programmes économiques et financiers entrepris à la fin des années 80 et l’adoption du Pacte de convergence en 1999, les taux de croissance des Etats de l’UEMOA restent en deçà du niveau minimal de 7% requis pour la réalisation des Objectifs du Millénaire pour le Développement (OMD). Cette faiblesse du rythme de croissance conduit aujourd’hui à s’interroger sur l’efficacité des politiques économiques et en particulier, sur le rôle que devraient jouer les autorités publiques à travers la politique budgétaire. Nous analysons, à partir des données empiriques, le caractère procyclique de la politique budgétaire dans la zone UEMOA, en testant les éventuels retournements liés à l’adoption du Pacte de convergence. Ensuite, dans un deuxième temps, nous estimons à travers un modèle VAR structurel, l’impact dynamique des chocs budgétaires sur les fluctuations de l’activité économique des pays de l’UEMOA et leurs canaux de transmission. En dernier lieu, nous exposons d’abord les limites de l’approche utilisée par le FMI pour le calcul des contributions de la politique budgétaire à la croissance économique ; puis, nous proposons un modèle d’évaluation des effets de long terme de cette politique sur la croissance, tout en montrant les risques liés aux coupes budgétaires sur les investissements publics. Les résultats de cette thèse suggèrent l’adoption de règles budgétaires qui tiennent compte de la situation conjoncturelle de chaque pays, la rapidité dans l’action gouvernementale pour remédier à l’inertie des finances publiques et le renforcement des investissements publics productifs afin de mieux soutenir la croissance économique / Despite significant economic and financial programs undertaken in the late 80s and the adoption of the convergence Pact in 1999, the growth rate of Economic and Monetary Union of West Africa (EMUWA) countries remain below the minimum level of 7% required for the achievement of Millennium Development Goals (MDGs). This low growth rate now leads to questions about the effectiveness of economic policy and, in particular, on the role to be played by public authorities through fiscal policy. We analyze empirical data through, the procyclicality of fiscal policy in the EMUWA and we test the possible reversals related to the adoption of the convergence Pact. Then, in a second step, we estimate from a structural VAR model, the dynamic impact of fiscal shocks on fluctuations in the economic activity of the EMUWA countries and their transmission channels. Finally, we discuss the limitations of the approach used by the International Monetary Fund (IMF) to calculate the contributions of fiscal policy to economic growth; then, we propose an evaluation of the long-term effects of this policy model on growth, while showing the risks of cuts on public investment.The results of this thesis suggest the adoption of fiscal rules that take into account the economic situation of each country, the speed in government action to overcome the inertia of public finances and strengthening of productive public investments to better support economic growth

El proyecto consta de un Centro de Pesca Artesanal en la ciudad de Ilo que tiene como objetivo integrar a la población con una actividad primaria importante en su economía local, enfatizando la arquitectura biofílica es decir integrando la naturaleza propia del lugar en el proyecto. La ciudad de Ilo, ubicada en el departamento de Moquegua se eligió ya que es el lugar donde nací y crecí. En esta ciudad la actividad pesquera artesanal tiene una inadecuada infraestructura de desembarque. Ante este panorama, se presenta la oportunidad de implementar de nueva infraestructura y crear un punto de encuentro entre el poblador local y esta actividad. / The project consists of an Artisanal Fishing Center in the city of Ilo that aims to integrate the population with an important primary activity in its local economy, emphasizing biophilic architecture, that is, integrating the natura of the place into the project. The city of Ilo, located in the south of Peru in the department of Moquegua, was chosen because it is the place where I was born and raised. In this city, artisanl fishing is an activity that has an inadequate landing infraestructure. Given this panorama, the opportunity to implement new infraestructure and create a meeting point between the local population and this activity presents itself. / Tesis

Se nos ha encomendado la tarea de desarrollar una propuesta innovadora para agregar a la industria del sector público para este informe. Siendo nativos de un condado afectado por el tráfico como Miami Dade, decidimos abordar el desafío de aliviar la red de transporte del área proponiendo una expansión del actual sistema de Metrorail obsoleto en los tramos occidental y sur del condado. Creemos que esta expansión no solo creará puestos de trabajo en el proceso de construcción, sino que en última instancia permitirá un flujo de transporte que conducirá a una economía en auge explosivo. La ciudad está preparada para una innovación de este tipo, ya que los inmigrantes de todo el mundo y los EE. UU. Acuden a ella rápidamente transformando la ciudad día a día en un titán global. Una ciudad de tal magnitud y promesas necesita un sistema de transporte público a la altura. / We have been tasked with developing an innovative proposal to add onto the public sector industry for this report. Being natives of a traffic-stricken county such as Miami Dade, we decided to tackle the challenge of alleviating the transportation network of the area by proposing an expansion to the current outdated Metrorail system into the Western and Southern reaches of the county. We believe that this expansion will not only create jobs in the process of construction but will ultimately allow a flow of transportation that will lead to an explosively booming economy. The city is primed for such an innovation as immigrants from all over the world and the US flock into it quickly transforming the city day by day into a Global titan. A city of such magnitude and promise needs a public transportation system to match it. / Trabajo de investigación

[pt] Este trabalho investiga empiricamente como as taxas de negociação no mercado secundário de debêntures se correlacionam com mudanças na atividade econômica do país. A base de dados analisada se refere a debêntures com remuneração indexada a CDI (mais) spread de janeiro de 2010 até dezembro de 2019. Para isso, criou-se um Índice de Spread de Crédito, visando ser um indicador da atividade econômica. Em um segundo passo, o Índice é decomposto em um componente que captura a expectativa de default das companhias, observando seus dados dos balanços financeiros, e um componente residual – o Excess Bond Premium. Em linha com a literatura, o estudo sugere que um aumento do Excess Bond Premium evidencia uma redução na oferta de crédito, assim como uma alta nas taxas das debêntures, o que, segundo a teoria estudada, leva a uma desaceleração na atividade econômica. O estudo sugere que um aumento de 100 basis points no Excess Bond Premium leva a uma retração de aproximadamente 4,2 por cento na taxa de crescimento do PIB. / [en] This paper empirically investigates how trading rates in the secondary corporate bond s market correlate with changes in the country s economic activity. The database consists of corporate bonds with floating rates tied to CDI (plus) spread from January 2010 to December 2019. For this purpose, a Credit Spread Index was created, aiming to be an indicator of economic activity. The second step was to decompose the Index into a component that captures companies default expectations, observing their financial statement data, and a residual component – the Excess Bond Premium. In line with references, the paper suggests that an increase in Excess Bond Premium, generates a reduction in the supply of credit, as well as an increase in the rates of corporate bonds, which, according to the theory studied, leads to a slowdown in economic activity. The study suggests that an increase of 100 basis points in the Excess Bond Premium leads to a drop of 4.2 percent in GDP growth rate.

This master dissertation is devoted to the actual problem – the lack of a specific methodology for assessing the efficiency of foreign economic activity (FEA) of industrial enterprises in the financial crisis. Therefore was formulated the main goal – development methodological approaches and tools for assessing activation of foreign economic activity of enterprise. First chapter of this dissertation includes review of examines the concept of foreign economic activity, structure, types and other factors influencing on efficiency. Also was describes the main methods and approaches to evaluating the effectiveness of FEA which are also using by industry. In addition, considers such a phenomenon like the financial crisis, explores the main types and causes, in particular, special attention was paid to the events of 2014. As well was nominated the hypothesis about the positive effect of the financial crisis on the foreign trade export enterprises which is works in raw materials and steel direction. In second Chapter was highlighted and described the object of study (OAO NLMK), in his example was evaluated the efficiency of foreign economic activity by using previously identified metrics. Likewise we study the impact of currency volatility on performance indicator from trade deals in dynamics. In third Chapter was developed the algorithm, including step-by-step instructions for the assessment of the external economic activity of industrial enterprise taking into account influence of external factors. Also was offered options necessary responses to changes in the external environment, it will allow to effectively adapt the FEA under the changes, and to reveal reserves of increase of efficiency. This algorithm is a scientific novelty of this dissertation research. Dissertation research located on 107 pages, which has 18 tables and 19 figures, when writing was used 52 bibliographical sources. / Данная магистерская диссертация посвящена актуальной проблеме – отсутствию определенной методики оценки эффективности внешнеэкономической деятельности (ВЭД) промышленного предприятия в условиях финансового кризиса. В связи с чем сформулирована основная цель ¬– разработка методических подходов и инструментария к оценке активизации ВЭД предприятия. В первой главе данной работы рассмотрены понятия внешнеэкономической деятельности, ее структуры, видов и основных факторов, влияющих на ее эффективность. Так же рассмотрены основные методы и подходы к оценке эффективности ВЭД, так же проанализированы существующие показатели эффективности, которые применяются промышленными предприятиями. Кроме того, рассмотрен такой феномен, как финансовый кризис, исследованы основные виды и причины возникновения, в частности особое внимание уделялось событиям 2014 года. Выдвигается гипотеза о положительном эффекте финансового кризиса на ВЭД предприятий – экспортеров сырья и металлопродукции. Во второй главе выделяется и описывается объект исследования (ПАО НЛМК), на его примере производится оценка эффективности внешнеэкономической деятельности при помощи ранее выявленной системы показателей. Так же в динамике изучается влияние валютной волатильности на показатель эффективности от внешнеторговых сделок. В третей главе разрабатывается алгоритм, включающий пошаговую инструкцию по оценке внешнеэкономической деятельности промышленного предприятия, учитывающий влияние внешних факторов. Так же предложены варианты необходимых мер реагирования на изменения внешней среды, данный подход позволит эффективно адаптировать ВЭД под изменения, а так же выявлять резервы повышения эффективности. Алгоритм представляет собой научную новизну данного диссертационного исследования. Диссертационное исследование находится на 107 страницах, на которых размещены 18 таблиц и 19 рисунков, при написании было использовано 52 библиографических источника.

Актуальность использования диверсификации в деятельности предприятия весьма высока, так как на сегодняшний день экономическая среда не стабильна и меняется очень быстрыми темпами. Формы диверсификации постоянно претерпевают изменения, и не существует единого подхода к обоснованию диверсификации на предприятии. В статье представлены результаты исследования подходов к ее обоснованию диверсификации на предприятии. В ходе написания магистерской диссертации был разработан и апробирован алгоритм обоснования диверсификации деятельности предприятия. Использование данного алгоритма при запуске процесса диверсификации деятельности предприятия позволит повысить его устойчивость. В результате апробации разработанного алгоритма были предложены практические рекомендации для менеджмента предприятия, а так же рекомендации по автоматизации бизнес-процессов с использование предложенного алгоритма. / The relevance of the use of diversification in the activities of the enterprise is very high, as today the economic environment is not stable and is changing very rapidly. Forms of diversification are constantly changing, and there is no single approach to justify diversification in the enterprise. The article presents the results of the study of approaches to its justification of diversification in the enterprise. . During the writing of the master's thesis the algorithm of substantiation of diversification of activity of the enterprise was developed and tested. The use of this algorithm when starting the process of diversification of the enterprise will improve its stability. As a result of testing of the developed algorithm, practical recommendations for the management of the enterprise, as well as recommendations for the automation of business processes using the proposed algorithm were proposed.

Baigiamajame magistro darbe yra pateikiama ir analizuojama neteisėto vertimosi ūkine, komercine, finansine ar profesine veikla normos taikymo problematika, baudžiamosios ir administracinės atsakomybių atribojimo probleminiai kriterijai. Atlikto tyrimo tikslas yra išskirti probleminius šios normos aspektus, juos atskleisti bei apibendrinant mokslinę doktriną ir teismų praktiką pateikti konkrečius normos taikymo sprendimus. Darbe taip pat iškeliama baudžiamosios atsakomybės pagrįstumo bei taikymo sąlygų problematika. Pateikiama užsienio šalių praktika bei alternatyvūs baudžiamosios atsakomybės taikymo variantai. Mokslinio tyrimo metu yra pateikiami pasiūlymai dėl neteisėto vertimosi ūkine, komercine, finansine ar profesine veikla normos tobulinimo, kvalifikuotos normos sudėties panaikinimo. / Problems of using norms of illegal farming, commercial, financial and professional activities, and criminal and administrational liability limitation problem criteria are presented and analyzed. Aim of study, which was carried out, is to distinguish problematic aspects of this norm, to uncover these problematic aspects and to present specific solutions of application of this norm through generalization of scientific doctrine and practice of courts. Practice of foreign countries and alternative variants of application of criminal liability are presented. Suggestion, concerning the improvement of norms of illegal farming, commercial, financial or professional activity and removal of qualified norm content, are presented during this scientific study.

The factor determinants of industry and investment location patterns in transition economies can be expected to differ from those frequently observed in developed countries. Historically, centrally planned economies have suffered from inefficient industrial policies that are generally assumed to have had distortive effects on spatial location of industry. The process of economic transition and regional integration that followed the demise of socialist structures is assumed to have subsequently affected the geographical distribution of economic activities within and between countries of the region. Given the above this thesis capitalises on the quasi-natural experiment setting to further explore industry and investment location decisions in transition economies. In particular, the research presented here follows three main objectives. First, it intends to provide a comprehensive picture of changes in industry location patterns over time. Second, it aims to contribute to the debate on factor determinants of industry location at various levels of spatial aggregation. Third, it seeks to explore location determinants of foreign direct investors in particular, given their pivotal role for economic development of transition economies. In all instances, the research is geared towards a better understanding of the role of institutional factors, such as reforms and policies, in affecting distribution of economic activity across space. Thus, the work conducted qualifies as a further contribution to the analysis of structural changes that have affected the economies under examination. In broad terms, the findings presented here point towards significant changes in spatial location patterns of industry and investments that are leading to increased polarisation of economic landscape over time. Nonetheless, we find evidence that certain institutional factors qualify as viable policy levers, thereby providing ample scope for policy makers to impact existing location patterns of economic activity.

Made available in DSpace on 2016-04-26T20:23:27Z (GMT). No. of bitstreams: 1 Maria Herminia Penteado Pacheco e Silva Moccia.pdf: 2132272 bytes, checksum: dd92a873e370f02c9e4e8afffe7c00a0 (MD5) Previous issue date: 2015-02-11 / This study, stemming from the provisions of the Brazilian Constitution, aims to analyze the activity of the State in fostering the private economy, so as to frame the latter as an expression of administrative activity, subject to the limits that govern this activity of the state. The wide range of activities fostering economic development results in a conceptual challenge in the attempt to materially determine its field of impact. Thus, among the instruments provided for in the Brazilian legal system, this study focused on the soft loans granted by the BNDES, in order to define the set of parameters to be applied to the exercise of this government activity. Actions to foster the economy, through soft loans in particular, has been treated as a result of the discretionary authority of the Administration, and considered an activity more connected to private and banking law, than to public law and its respective legal system. Although a greater flexibility in the choices made by the State is recognized, the public nature of this specific role of the State must be recognized. A role which should be motivated, transparent and controlled, in order to build boundaries and clarify the conditions for it to be carried out. This topic has not yet deserved in-depth studies, and has gained significance because of the enormous amounts of money that have been directed to this activity regardless of any guarantee of effectiveness of the spending. On the other hand, since 2009 the Bank started to receive resources from the Brazilian Treasury. These resources now outweigh the Bank s original sources of funding. This has led to an increase in public debt and huge distortions that undermine economic policy. In this study the role and the importance of public banks as funding instruments in developing economies is recognized. However, it is argued that the BNDES should be more parsimonious in granting loans at lower interest rates and guided by clear criteria, designed to effectively ensure economic and social development. Aware of the above mentioned challenges, and because of the different choices made by different Administrations in relation to each State s own economic reality, the ultimate goal of this study is to present instruments for establishing guiding parameters for this activity, and for enabling it to be effectively controlled / O presente trabalho, partindo dos comandos emanados da Constituição Federal, objetiva analisar a atividade estatal de fomento da economia privada, para enquadrá-la como expressão da atividade administrativa, sujeitando-a aos limites que informam esta atividade estatal. A ampla abrangência da atividade promocional, resulta em uma dificuldade conceitual para a delimitação material de seu campo de incidência. Assim, dentre os instrumentos previstos no ordenamento jurídico brasileiro, a tese focou nos empréstimos em condições favoráveis concedidos pelo BNDES, para definir os parâmetros aplicáveis ao seu exercício. O fomento, e este instrumento em específico, vem sendo tratado como resultado de escolha discricionária da Administração, considerada uma atividade mais ligada ao direito privado e bancário, do que ao direito público e seu regime jurídico. Embora se reconheça a maior flexibilidade nas escolhas estatais, deve-se ter em mira o caráter público desta função que deve ser motivada, transparente e controlada, com vistas a construir limites e explicitar os pressupostos para o seu exercício. Trata-se de um tema pouco estudado que ganhou relevância em razão das vultosas quantias que foram destinadas a esta atividade, sem garantia da eficácia do gasto empreendido. Por outro lado, desde 2009 o Banco passou a receber aportes do Tesouro que hoje superam suas fontes de custeio originárias, repercutindo no aumento da dívida pública e produzindo enormes distorções que prejudicam a política econômica. No presente trabalho são reconhecidos o papel e a importância dos Bancos Públicos como instrumentos de fomento, em economias em desenvolvimento. Ocorre que o BNDES precisa ser mais parcimonioso na concessão de empréstimos a juros favoráveis, e pautar-se por critérios claros, voltados a garantir, efetivamente, o desenvolvimento econômico e social. Ciente das dificuldades acima aludidas, e em razão das diferentes escolhas das atuações administrativas em relação com a realidade econômica própria de cada Estado, o objetivo final deste trabalho é apresentar instrumentos que permitam a formulação de parâmetros norteadores desta atividade, auxiliando o seu controle

O litoral norte paulista, no fim do século XVIII, tem a produção do açúcar e aguardente como os principais produtos exportados aos portos do Rio de Janeiro e de Santos através da navegação de cabotagem. O café aparece na região logo nos primeiros anos do século XIX, e torna-se dentro de dez anos o maior produto agrícola a ser exportado pelas vilas do litoral norte paulista. A região sofre com duas restrições comerciais do governo paulista que visava desenvolver a agricultura na província, em finais do século XVIII e início do XIX, o que marcará a decadência da produção açucareira e de aguardente. O potencial econômico da região só é retomado alguns anos depois com a produção cafeeira, o que eleva o número da população livre, o contingente escravo, e também, a posse média dos proprietários de cativos. O crescente econômico da região se apresenta até meados da primeira metade do século XIX, entrando a seguir em um declínio econômico acentuado devido à concorrência do café de outras regiões próximas, que detinham maior potencialidade de produção e distribuição. No início do século XIX a região também se dedicou a outras atividades comerciais como a pesca de baleias e o corte venda de madeiras de alto valor comercial empregada na construção naval. A decadência econômica do litoral norte paulista só tem fim com a descoberta pelo turismo e um novo planejamento econômico nacional no início da segunda metade do século XX. / The north coast of São Paulo, in the end of the XVIII century, has sugar and sugar cane brandy as the main products exported to the Rio de Janeiro and Santos ports through the coast. Coffee shows up in the region right in the first years of the XIX century,becoming in a period of ten years the biggest agricultural product exported by the north Coast villages. The region has suffered with two commercial restrictions from São Paulo´s government that aimed to develop the agriculture in the province,in the end of XVIII and beggining of XIX century, that will point the decay of sugar and sugar cane brandy production.The region economical power is retaken only some years later with the coffee production, which increases the number of free population, the number of slaves, and also, the average number slave owners. The region economic growth is present until the first half of XIX century, getting into a severe economic decline due to the coffee competition of other close regions, which had more production and distribution power. In the beggining of XIX century the region has also been into other commercial activities, such as the whaling and the cutting and selling of timbers of high commercial value used in ship building. The north coast economic decay has only an end with the tourism and a new national economic planning in the beggining of the second half of the XX century.