The Diploma Thesis deals with the regulation of the tobacco market. The first part is dedicated to the theoretical view on regulation. It describes the historical development of the different points of view on regulation within economic schools, then it characterizes different types of market failure and within those it shows possible solutions in form of regulatory measures. The second part of the diploma thesis deals with tobacco and tobacco products market. In this chapter the current situation on the market is analyzed and some trends are derived, the chapter also deals with the largest producers of tobacco products nowadays. The last chapter deals with current tobacco control legislation. The Framework Convention on Tobacco Control and current European tobacco control legislation are looked at in detail and there is a comparison conducted of the level of tobacco market regulation in different parts of the world. The last part of the thesis delivers the evaluation of the level to which the current tobacco regulation is in line with the economic theory of regulation.

Credit derivative has become an important financial instrument in global financial market, it plays significant role in transferring credit risk. During the latest financial crisis, collapse of credit derivative market was a main reason led to this worldwide turmoil. In this thesis, I try to investigate this adverse performance through a case study of Goldman Sach's ABACUS 2007-AC1. I conclude three major findings. First, severe interest conflicts and asymmetric information existed between counterparties in credit derivative market in U.S.. Second, the securities‘ credit ratings provided a downward-biased view of their actual default risks, the yields failed to account for the extreme exposure of structured products to declines in aggregate economic conditions. Third, credit derivatives do not eliminate systematic risk, they just shift the risk, CDOs exchanged diversifiable risk for systematic risk during the structuring process, which was difficult to understand for most of investors, we see risk accumulation rather than spreading risk,

This paper presents a case study examination of the Commonwealth of Virginia\'s public higher education market and the use of asymmetrical information flows between providers and consumers by college and university institutions to intentionally create market failures to maximize brand building through increased revenue collections via profit maximization behaviors. Existing economic research in the financial services market hold that asymmetry of information generates inefficient allocation of goods and subsequent identification of market failure conditions. Market failures can lead to tipping points which may result in public values failures as threats to human subsistence (i.e. food, clothing, education) and imperfect public information. Market failures resulting in public values failures warrant government intervention to correct market inefficiency and ensure pareto efficiency in the allocation of goods. Mandatory non-educational fees increase the cost to attend a post-secondary institution which subsequently aid in increased student debt and reduced access and affordability for low income classification groups thus exacerbating societal cleavages identified as public values failures. This research identifies the application of economic and public administration theory to construct a policy recommendation to mitigate asymmetrical information and improve pareto efficiency involving transactions in the public higher education market. / Master of Public Administration

Diese Dissertation beschreibt Marktverzerrungen auf mehreren Ebenen, die entweder aufgrund von Fehlfunktionen oder durch Interventionen politischer Art entstehen. Die Fehlfunktionen schließen einerseits Märkte mit imperfektem Wettbewerb, und andererseits Versagen auf anderweitig vollkommenen Märkten ein. Die Erstgenannten können durch eine starke Konzentration (beispielsweise aufgrund der geringen Größe des Marktes) verursacht werden, durch Ein- oder Austrittsbarrieren, heterogene Güter und Informationsasymmetrien. Zu den Gründen für Marktversagen gehören die Existenz von Externalitäten, Störungen auf anderen, verlinkten Märkten (z.B. die von Kleinbauern erfahrenen Kreditbeschränkungen), hohe Transaktionskosten, öffentliche Güter und Staatsversagen. Abhängig von den Definitionen unterschiedlicher Autoren kann die ungleiche Verteilung von Einkommen oder Vermögen auch als Versagen des Marktmechanismus verstanden werden. In dem Abschnitt dieser Arbeit der sich Marktstörungen widmet wurde der Fokus auf die Nachfrageseite gesetzt, wo die Marktkonzentration mit der Existenz von Monopsonen, Oligopsonen oder Monopsonistischem Wettbewerb assoziiert wird. Die zweite Klasse von Verzerrungen auf den hier betrachteten Märkten wird durch politische Interventionen verursacht. Diese können verschiedene Beweggründe haben, wie die Korrektur der oben beschriebenen Marktstörungen oder Umverteilung zwischen Bevölkerungsgruppen. Das Instrument, das jeweils eingesetzt wird, um Marktversagen zu korrigieren, hängt von der beobachteten Störung ab. Wenn externe Effekte vorhanden sind, kann beispielsweise eine Steuer (Subvention) angewendet werden, um die externen Kosten (Nutzen) zu internalisieren. Umverteilung kann ebenfalls auf verschiedene Arten erreicht werden, beispielsweise durch die Direktzahlungen auf der Ebene der einzelnen Betriebe welche die europäischen Landwirte unterstützen. Um die Ergebnisse von Mikro- und Makroperspektive systematisch zu kombinieren wird die Dimension der Skalen in den theoretischen Rahmen eingeführt. Dies ist notwendig, da sowohl die Auswirkungen von Mikroprozessen auf größere Zusammenhänge, als auch der Einfluss von Makroprozessen auf das Mikroniveau nicht immer offensichtlich sind. Dieser Rahmen wurde auf a) den lokalen Kautschukmarkt in Jambi, Indonesien, der durch starke Nachfragemarktmacht auf allen Ebenen gekennzeichnet ist und b) den europäischen Markt für Zucker angewandt, der stark reguliert ist. Kapitel zwei und drei liefern eine Analyse der Fehlfunktionen innerhalb des indonesischen Kautschukmarkts, von denen sich Kapitel zwei mit einer Mikro- und Kapitel drei mit der Mesoebene befasst. Die Analyse auf Mikroniveau zeigt, dass Kleinhändler von Gummi in Jambi Marktmacht ausüben. Der Preis, den sie ihren Lieferantinnen und Lieferanten bezahlen liegt deutlich unter den Wertgrenzprodukten dieses Inputs. Diese Marktmacht ist größer in abgelegenen Regionen und schwächer mit zunehmender Marktgröße. Auch auf dem größeren Maßstab der verarbeitenden Industrie existiert Marktmacht in beträchtlichem Umfang. Die Fabriken betreiben asymmetrische Preistransmission, was bedeutet, dass Preisänderungen auf dem Weltmarkt schneller auf die Inputpreise übertragen werden wenn der Weltmarktpreis sinkt als in Zeiten von Preissteigerungen. Die asymmetrische Übertragung der Preise allein führt zu einer jährlichen Umverteilung von rund drei Millionen US-Dollar in Jambi. Es lässt sich davon ausgehen, dass die gesamte Umverteilung aufgrund von Marktmacht deutlich größer ist, was aber mit den verfügbaren Daten nicht beurteilt werden kann. Das vierte Kapitel untersucht die Auswirkungen von politischen Interventionen auf der Mesoebene. Der Schwerpunkt der Analyse liegt auf den Ergebnissen einer Marktintervention auf Drittländer, nämlich die Senkung des Interventionspreises auf dem europäischen Zuckermarkt. Diese Preissenkung war von den Auswirkungen der bisherigen Politik, sowie Veränderungen des institutionellen Rahmens, in dem die gemeinsame Marktorganisation für Zucker eingebettet ist, motiviert. Dies sind die Einführung des ‚Everything But Arms‘ Abkommens, sowie Verpflichtungen die sich aus den multilateralen Verhandlungen im Rahmen der Welthandelsorganisation ergaben. Die Ergebnisse zeigen, dass die Afrikanischen, Karibischen und Pazifischen Staaten in der Tat negativ beeinflusst worden sind, das heißt dass die Erosion von Präferenzen stattgefunden hat. Die Ergebnisse dieser Arbeit sind für künftige Entscheidungen darüber, ob und wie auf den Agrarmärkten interveniert werden soll, relevant. Die entscheidenden Fragen bestehen darin, wann zu intervenieren ist, und durch welche Maßnahme.

The cost of climate policy depends on the no-policy alternative without which the opportunity cost of climate action cannot be determined. This reference path has to reflect the current failure in the market for carbon emissions: due to a negative externality, private investment decisions do not consider the climate damage they entail; agents overinvest in conventional capital and underinvest in climate capital. Internalization of climate damage lowers the private return to capital; agents reduce investment in favor of mitigation and consumption. Optimal climate mitigation increases welfare of the present and the future. Simulation of the inefficient no-policy scenario in DICE-07 confirms that this point numerically. (author's abstract)

Em 2011, o Brasil foi o terceiro maior exportador de produtos agrícolas, respondendo por 7,9% do total do comércio agrícola mundial (MAPA, 2012). No comércio internacional do leite, o país ocupa uma posição de destaque, sendo o quarto colocado na produção mundial de leite in natura (FAO, 2013). Já no contexto do leite em pó integral, o Brasil é o quarto colocado na produção mundial, o segundo colocado no consumo mundial e o terceiro colocado nas importações mundiais (USDA, 2012). Nesse contexto, a pesquisa teve como problemática a seguinte indagação: é possível apresentar competitividade (a valores privados) e eficiência econômica (a valores sociais) em cadeias produtivas de leite em pó integral com três diferentes níveis tecnológicos localizadas no estado do Rio Grande do Sul em 2012? No intuito de responder ao problema de pesquisa, adotou-se o método de Monke e Pearson (1989), a Matriz de Análise de Políticas (MAP). As cadeias produtivas analisadas foram caracterizadas da seguinte forma: Cadeia Produtiva de Leite em Pó Integral tipo I (CPLEI-I): para o sistema de produção de leite tradicional, “com nível tecnológico baixo”; Cadeia Produtiva de Leite em Pó Integral tipo II (CPLEI-II): para o sistema de produção melhorado, “com nível tecnológico médio”; e Cadeia Produtiva de Leite em Pó Integral tipo III (CPLEIIII): para o sistema de produção avançado, “com nível tecnológico alto”. Os resultados da pesquisa evidenciam que todas as cadeias produtivas analisadas apresentaram ganhos na forma de lucros privados, acima da segunda melhor alternativa de investimento dos recursos produtivos. No entanto, os agentes foram liquidamente taxados, tendo os valores dos lucros privados reduzidos de 41% a 58%, conforme os Coeficientes de Lucratividade (CLS). De maneira geral, a cadeia mais intensiva em uso de insumos modernos apresentou mais efeitos penalizadores de políticas tributárias do que aquelas com menores índices de inovação, conforme valores das Razões dos Custos Privados (RCPS), que foram de: CPLEI-II: 0,72; CPLEI-I: 0,46; e CPLEI-III: 0,26. Assim, os resultados indicaram que, na CPLEI-II, 72% de seu valor adicionado (medido pela diferença entre a receita e os custos dos insumos comercializáveis) foram utilizados para o pagamento de fatores domésticos. Além disso, aproximadamente 50% dos lucros privados dos agentes foram reduzidos em função das tributações e outras falhas de mercado, considerando as diferenças entre o lucro corrente (lucro privado) e aquele que deveria existir (lucro social), com valores de Transferências Líquidas de Políticas (TLPS), entre R$ -760,59 e R$ -594,22. Por fim, conclui-se que as três cadeias produtivas apresentaram competitividade (a valores privados) e eficiência econômica (a valores sociais), porém em proporções diferentes. Além do mais, os resultados asseguram que as cadeias remuneram os fatores domésticos (terra, capital e trabalho) à taxa interna de retorno sobre o capital investido nos ativos fixos, com um retorno superior ao das taxas alternativas de investimentos (como, por exemplo, a caderneta de poupança). Em se tratando de contribuições, a pesquisa forneceu um conjunto de indicadores econômicos que podem ser de grande importância na formulação de políticas e na tomada de decisão sobre a gestão dos riscos econômicos de produção e comercialização de leite em pó integral, nas dimensões macroanalítica (internacional e nacional), mesoanalítica (setorial) e microanalítica (empreendimentos). / In 2011, Brazil was the third largest exporter of agricultural products, accounting for 7.9% of the total world agricultural trade (MAPA, 2012). In terms of world dairy trade, the country occupies a remarkable position, as it is the world’s fourth largest producer of milk (FAO, 2013). Concerning whole milk powder, Brazil is the fourth largest producer, the second largest consumer and the third biggest importer (USDA, 2012). Considering this context, the problem addressed by this research was the following: Could whole milk powder production chains at three different technological levels be competitive (at private values) and economically efficient (at social values) in Rio Grande do Sul in 2012? Aiming at answering the research problem, the method known as Policy Analysis Matrix (PAM), developed by Monke and Pearson (1989), was adopted. The production chains analyzed were characterized as follows: Type I – Whole Milk Powder Production Chain (MPC-I): traditional milk production system, “with low technological level”; Type II – Whole Milk Powder Production Chain (MPC-II): improved production system, “with medium technological level”; and Type III – Whole Milk Powder Production Chain (MPC-III): advanced production system, “with high technological level”. The results evidenced that all the production chains analyzed generated earnings in the form of private profits, above the second best alternative of investment of the production resources. However, the agents were liquidly taxed, and the reductions of the private profit values ranged from 41% to 58%, according to the Profitability Coefficients (PCs). In general, the chain in which the use of modern inputs was more intensive suffered more penalizing effects of taxation policies than the chains showing lower innovation indexes, according to the values of Private Cost Ratios (PCRs), which were the following: MPC-II: 0.72; MPC-I: 0.46; and MPC-III: 0.26. Therefore, the results pointed that 72% of MPC-II added value (measured through the difference between revenue and costs of tradable inputs) were used to pay for domestic factors. Besides, about 50% of the private profits obtained by the agents were reduced due to taxations and other market failures, considering the differences between the current profit (private profit) and the one that should exist (social profit), with values of Net Policy Transfers (NPT), between R$ -760.59 and R$ - 594.22. Finally, it was concluded that the three production chains showed competitiveness (at private values) and economic efficiency (at social values), but with different proportions. Furthermore, the results ensure that the chains pay for the domestic factors (land, capital and work) at the internal rate of return on the capital invested in fixed assets, with a higher return than those provided by alternative investments (such as, for instance, savings accounts). Regarding contributions, the research provided a set of economic indicators that may be very important to policy formulation and decision-making involving the management of economic risks of both production and marketing of whole milk powder, in the macro-analytical (international and national), meso-analytical (sector) and micro-analytical (businesses) dimensions.

Em 2011, o Brasil foi o terceiro maior exportador de produtos agrícolas, respondendo por 7,9% do total do comércio agrícola mundial (MAPA, 2012). No comércio internacional do leite, o país ocupa uma posição de destaque, sendo o quarto colocado na produção mundial de leite in natura (FAO, 2013). Já no contexto do leite em pó integral, o Brasil é o quarto colocado na produção mundial, o segundo colocado no consumo mundial e o terceiro colocado nas importações mundiais (USDA, 2012). Nesse contexto, a pesquisa teve como problemática a seguinte indagação: é possível apresentar competitividade (a valores privados) e eficiência econômica (a valores sociais) em cadeias produtivas de leite em pó integral com três diferentes níveis tecnológicos localizadas no estado do Rio Grande do Sul em 2012? No intuito de responder ao problema de pesquisa, adotou-se o método de Monke e Pearson (1989), a Matriz de Análise de Políticas (MAP). As cadeias produtivas analisadas foram caracterizadas da seguinte forma: Cadeia Produtiva de Leite em Pó Integral tipo I (CPLEI-I): para o sistema de produção de leite tradicional, “com nível tecnológico baixo”; Cadeia Produtiva de Leite em Pó Integral tipo II (CPLEI-II): para o sistema de produção melhorado, “com nível tecnológico médio”; e Cadeia Produtiva de Leite em Pó Integral tipo III (CPLEIIII): para o sistema de produção avançado, “com nível tecnológico alto”. Os resultados da pesquisa evidenciam que todas as cadeias produtivas analisadas apresentaram ganhos na forma de lucros privados, acima da segunda melhor alternativa de investimento dos recursos produtivos. No entanto, os agentes foram liquidamente taxados, tendo os valores dos lucros privados reduzidos de 41% a 58%, conforme os Coeficientes de Lucratividade (CLS). De maneira geral, a cadeia mais intensiva em uso de insumos modernos apresentou mais efeitos penalizadores de políticas tributárias do que aquelas com menores índices de inovação, conforme valores das Razões dos Custos Privados (RCPS), que foram de: CPLEI-II: 0,72; CPLEI-I: 0,46; e CPLEI-III: 0,26. Assim, os resultados indicaram que, na CPLEI-II, 72% de seu valor adicionado (medido pela diferença entre a receita e os custos dos insumos comercializáveis) foram utilizados para o pagamento de fatores domésticos. Além disso, aproximadamente 50% dos lucros privados dos agentes foram reduzidos em função das tributações e outras falhas de mercado, considerando as diferenças entre o lucro corrente (lucro privado) e aquele que deveria existir (lucro social), com valores de Transferências Líquidas de Políticas (TLPS), entre R$ -760,59 e R$ -594,22. Por fim, conclui-se que as três cadeias produtivas apresentaram competitividade (a valores privados) e eficiência econômica (a valores sociais), porém em proporções diferentes. Além do mais, os resultados asseguram que as cadeias remuneram os fatores domésticos (terra, capital e trabalho) à taxa interna de retorno sobre o capital investido nos ativos fixos, com um retorno superior ao das taxas alternativas de investimentos (como, por exemplo, a caderneta de poupança). Em se tratando de contribuições, a pesquisa forneceu um conjunto de indicadores econômicos que podem ser de grande importância na formulação de políticas e na tomada de decisão sobre a gestão dos riscos econômicos de produção e comercialização de leite em pó integral, nas dimensões macroanalítica (internacional e nacional), mesoanalítica (setorial) e microanalítica (empreendimentos). / In 2011, Brazil was the third largest exporter of agricultural products, accounting for 7.9% of the total world agricultural trade (MAPA, 2012). In terms of world dairy trade, the country occupies a remarkable position, as it is the world’s fourth largest producer of milk (FAO, 2013). Concerning whole milk powder, Brazil is the fourth largest producer, the second largest consumer and the third biggest importer (USDA, 2012). Considering this context, the problem addressed by this research was the following: Could whole milk powder production chains at three different technological levels be competitive (at private values) and economically efficient (at social values) in Rio Grande do Sul in 2012? Aiming at answering the research problem, the method known as Policy Analysis Matrix (PAM), developed by Monke and Pearson (1989), was adopted. The production chains analyzed were characterized as follows: Type I – Whole Milk Powder Production Chain (MPC-I): traditional milk production system, “with low technological level”; Type II – Whole Milk Powder Production Chain (MPC-II): improved production system, “with medium technological level”; and Type III – Whole Milk Powder Production Chain (MPC-III): advanced production system, “with high technological level”. The results evidenced that all the production chains analyzed generated earnings in the form of private profits, above the second best alternative of investment of the production resources. However, the agents were liquidly taxed, and the reductions of the private profit values ranged from 41% to 58%, according to the Profitability Coefficients (PCs). In general, the chain in which the use of modern inputs was more intensive suffered more penalizing effects of taxation policies than the chains showing lower innovation indexes, according to the values of Private Cost Ratios (PCRs), which were the following: MPC-II: 0.72; MPC-I: 0.46; and MPC-III: 0.26. Therefore, the results pointed that 72% of MPC-II added value (measured through the difference between revenue and costs of tradable inputs) were used to pay for domestic factors. Besides, about 50% of the private profits obtained by the agents were reduced due to taxations and other market failures, considering the differences between the current profit (private profit) and the one that should exist (social profit), with values of Net Policy Transfers (NPT), between R$ -760.59 and R$ - 594.22. Finally, it was concluded that the three production chains showed competitiveness (at private values) and economic efficiency (at social values), but with different proportions. Furthermore, the results ensure that the chains pay for the domestic factors (land, capital and work) at the internal rate of return on the capital invested in fixed assets, with a higher return than those provided by alternative investments (such as, for instance, savings accounts). Regarding contributions, the research provided a set of economic indicators that may be very important to policy formulation and decision-making involving the management of economic risks of both production and marketing of whole milk powder, in the macro-analytical (international and national), meso-analytical (sector) and micro-analytical (businesses) dimensions.

Em 2011, o Brasil foi o terceiro maior exportador de produtos agrícolas, respondendo por 7,9% do total do comércio agrícola mundial (MAPA, 2012). No comércio internacional do leite, o país ocupa uma posição de destaque, sendo o quarto colocado na produção mundial de leite in natura (FAO, 2013). Já no contexto do leite em pó integral, o Brasil é o quarto colocado na produção mundial, o segundo colocado no consumo mundial e o terceiro colocado nas importações mundiais (USDA, 2012). Nesse contexto, a pesquisa teve como problemática a seguinte indagação: é possível apresentar competitividade (a valores privados) e eficiência econômica (a valores sociais) em cadeias produtivas de leite em pó integral com três diferentes níveis tecnológicos localizadas no estado do Rio Grande do Sul em 2012? No intuito de responder ao problema de pesquisa, adotou-se o método de Monke e Pearson (1989), a Matriz de Análise de Políticas (MAP). As cadeias produtivas analisadas foram caracterizadas da seguinte forma: Cadeia Produtiva de Leite em Pó Integral tipo I (CPLEI-I): para o sistema de produção de leite tradicional, “com nível tecnológico baixo”; Cadeia Produtiva de Leite em Pó Integral tipo II (CPLEI-II): para o sistema de produção melhorado, “com nível tecnológico médio”; e Cadeia Produtiva de Leite em Pó Integral tipo III (CPLEIIII): para o sistema de produção avançado, “com nível tecnológico alto”. Os resultados da pesquisa evidenciam que todas as cadeias produtivas analisadas apresentaram ganhos na forma de lucros privados, acima da segunda melhor alternativa de investimento dos recursos produtivos. No entanto, os agentes foram liquidamente taxados, tendo os valores dos lucros privados reduzidos de 41% a 58%, conforme os Coeficientes de Lucratividade (CLS). De maneira geral, a cadeia mais intensiva em uso de insumos modernos apresentou mais efeitos penalizadores de políticas tributárias do que aquelas com menores índices de inovação, conforme valores das Razões dos Custos Privados (RCPS), que foram de: CPLEI-II: 0,72; CPLEI-I: 0,46; e CPLEI-III: 0,26. Assim, os resultados indicaram que, na CPLEI-II, 72% de seu valor adicionado (medido pela diferença entre a receita e os custos dos insumos comercializáveis) foram utilizados para o pagamento de fatores domésticos. Além disso, aproximadamente 50% dos lucros privados dos agentes foram reduzidos em função das tributações e outras falhas de mercado, considerando as diferenças entre o lucro corrente (lucro privado) e aquele que deveria existir (lucro social), com valores de Transferências Líquidas de Políticas (TLPS), entre R$ -760,59 e R$ -594,22. Por fim, conclui-se que as três cadeias produtivas apresentaram competitividade (a valores privados) e eficiência econômica (a valores sociais), porém em proporções diferentes. Além do mais, os resultados asseguram que as cadeias remuneram os fatores domésticos (terra, capital e trabalho) à taxa interna de retorno sobre o capital investido nos ativos fixos, com um retorno superior ao das taxas alternativas de investimentos (como, por exemplo, a caderneta de poupança). Em se tratando de contribuições, a pesquisa forneceu um conjunto de indicadores econômicos que podem ser de grande importância na formulação de políticas e na tomada de decisão sobre a gestão dos riscos econômicos de produção e comercialização de leite em pó integral, nas dimensões macroanalítica (internacional e nacional), mesoanalítica (setorial) e microanalítica (empreendimentos). / In 2011, Brazil was the third largest exporter of agricultural products, accounting for 7.9% of the total world agricultural trade (MAPA, 2012). In terms of world dairy trade, the country occupies a remarkable position, as it is the world’s fourth largest producer of milk (FAO, 2013). Concerning whole milk powder, Brazil is the fourth largest producer, the second largest consumer and the third biggest importer (USDA, 2012). Considering this context, the problem addressed by this research was the following: Could whole milk powder production chains at three different technological levels be competitive (at private values) and economically efficient (at social values) in Rio Grande do Sul in 2012? Aiming at answering the research problem, the method known as Policy Analysis Matrix (PAM), developed by Monke and Pearson (1989), was adopted. The production chains analyzed were characterized as follows: Type I – Whole Milk Powder Production Chain (MPC-I): traditional milk production system, “with low technological level”; Type II – Whole Milk Powder Production Chain (MPC-II): improved production system, “with medium technological level”; and Type III – Whole Milk Powder Production Chain (MPC-III): advanced production system, “with high technological level”. The results evidenced that all the production chains analyzed generated earnings in the form of private profits, above the second best alternative of investment of the production resources. However, the agents were liquidly taxed, and the reductions of the private profit values ranged from 41% to 58%, according to the Profitability Coefficients (PCs). In general, the chain in which the use of modern inputs was more intensive suffered more penalizing effects of taxation policies than the chains showing lower innovation indexes, according to the values of Private Cost Ratios (PCRs), which were the following: MPC-II: 0.72; MPC-I: 0.46; and MPC-III: 0.26. Therefore, the results pointed that 72% of MPC-II added value (measured through the difference between revenue and costs of tradable inputs) were used to pay for domestic factors. Besides, about 50% of the private profits obtained by the agents were reduced due to taxations and other market failures, considering the differences between the current profit (private profit) and the one that should exist (social profit), with values of Net Policy Transfers (NPT), between R$ -760.59 and R$ - 594.22. Finally, it was concluded that the three production chains showed competitiveness (at private values) and economic efficiency (at social values), but with different proportions. Furthermore, the results ensure that the chains pay for the domestic factors (land, capital and work) at the internal rate of return on the capital invested in fixed assets, with a higher return than those provided by alternative investments (such as, for instance, savings accounts). Regarding contributions, the research provided a set of economic indicators that may be very important to policy formulation and decision-making involving the management of economic risks of both production and marketing of whole milk powder, in the macro-analytical (international and national), meso-analytical (sector) and micro-analytical (businesses) dimensions.

2017 has been described as a decisive year for the Republic of Moldova. Following years of economic and political turmoil, it is more urgent than ever before that crucial reforms are not only adopted, but fully implemented – primarily within justice, media and banking sectors. Using a theory of impartial institutions and two central theories of state intervention into media markets, this counterfactual deductive thesis sets out to investigate arguments for and against a system of state subsidies to private media as a tool to increase Quality of Government in Moldova. Through analyses of qualitative interviews with six country experts within relevant fields as well as secondary data, the conclusion of this single case study is primarily confirming previous research indicating on the one hand, that a more social responsible role of the state within Eastern European media markets is a realistic future path, on the other hand that it can hardly be expected soon. Further, the possibility of media to improve Quality of Government is perceived as low – even with sufficient financial resources – due to lack of other prerequisites such as accessibility, accountability and responsiveness; as well as low scores on crucial indicators such as corruption, law and order and quality of bureaucracy. Just like democratic institutions can be destabilizing under wrong circumstances, state subsidies given to wrong beneficiaries within a media market, could undermine democratic legitimacy and accountability. Both findings of previous research – related to state governance on the one hand and media governance on the other – are perceived as particularly relevant in this study of Moldova. However, there have been promising signs lately on economic structural reforms improving the conditions for civil society and media in Moldova, indicating for reevaluating the potential of state support in the future. Further, I recommend greater emphasis put on the distinction between political and non-political owners when examining the effects of media ownership concentration and its effects on governments and societies at large.

No description available.