O objetivo primordial deste trabalho é analisar se a democracia é uma instituição política que produz resultados econômicos menos desiguais do que os regimes autoritários. A importância deste tema reside no fato que a própria promoção da democracia na agenda da política internacional tornou-se fundamental por inúmeras razões entre as quais sua suposta propensão em reduzir estas disparidades econômicas. Em primeiro lugar apresentamos no Capítulo 1 um balanço da discussão teórica e empírica a partir da qual constatamos que, a despeito do senso comum de que a democracia está relacionada a uma cidadania mais igualitária, os seus efeitos sobre a desigualdade ainda são discutíveis. Mesmo existindo um razoável consenso teórico de que os regimes democráticos devem, de alguma forma, produzir uma melhor distribuição de bens, os resultados empíricos são inconclusivos e contraditórios. Em seguida, diante de tal impasse empírico, propomos no Capítulo 2 uma reformulação da argumentação na qual entendemos que os efeitos da democracia sobre a desigualdade devem ser reinterpretados. A principal contribuição da tese reside na constatação, tanto teórica quanto empírica, de que estes efeitos são heterogêneos e interagem com o próprio nível de desigualdade, e, por conseguinte, é equivocado o suposto de que esses efeitos são homogêneos e independentes do contexto sócio-econômico da desigualdade. No Capítulo 3 apresentamos os dados e os conceitos de democracia e desigualdade. Assumimos que democracia se caracteriza como o regime político no qual os líderes competem entre si por meio de eleições e verificamos se os seus efeitos variam ao longo da própria distribuição de desigualdade econômica mensurada pelo coeficiente de GINI. Para tal análise, realizamos uma série de modelos de regressão quantílica, a metodologia adequada para avaliar o debate sobre a heterogeneidade versus homogeneidade dos efeitos. O argumento teórico, a partir do qual elabora-se a hipótese dos efeitos heterogêneos, refere-se à necessidade de uma convergência entre os interesses eleitorais dos partidos o lado da oferta e as clivagens sobre as quais uma potencial maioria dos eleitores tem interesse em ser atendido o lado da demanda por políticas públicas e plataformas. Isto posto, é 9 necessário discutir as condições que estimulam as lideranças políticas a utilizarem o problema da desigualdade econômica como argumento eleitoral e as condições nas quais surge uma demanda dos cidadãos por redistribuição via ação estatal. Somente nas sociedades mais desiguais tanto os partidos políticos têm interesse em ofertar políticas redistributivas, quanto tende a surgir no seio da cidadania uma demanda por redistribuição por parte de uma maioria de eleitores. No Capítulo 4 comprovamos empiricamente que os efeitos da competição democrática em sociedades mais desiguais são diferentes seus efeitos em sociedades mais iguais; e estes efeitos estão em direção à maior redução da desigualdade apenas nas sociedades mais desiguais. Os resultados são robustos às mais diferentes especificações dos modelos estatísticos, dados e formas de mensuração, tanto de democracia quanto de desigualdade, em diferentes cortes temporais e horizontes históricos de análise. Inclusive quando estendemos o recorte temporal para antes do pós-2ª Guerra Mundial utilizando dados que abrangem o período de surgimento dos primeiros regimes representativos democráticos no século XIX, a veracidade das hipóteses dos efeitos heterogêneos e de que há maior contundência da democracia em direção à redução da desigualdade nas sociedades mais desiguais permanece. Por fim, além deste problema teórico e empírico de crucial importância, também controlamos a análise para a potencial relação recíproca entre democracia e desigualdade. Enquanto parte da literatura discute os potenciais efeitos igualitários da democracia, outra importante literatura debate se o aumento da desigualdade aumenta ou reduz a probabilidade de um país tornar-se ou manter-se democrático. Posto isto, apresentamos uma lista de variáveis instrumentais para estimar validamente os efeitos da democracia sobre a desigualdade independente da relação entre desigualdade e democracia / The primary aim of this study is to analyze whether democracy is a political institution that produces less unequal economic outcomes than authoritarian regimes. The importance of this issue lies in the fact that the very promotion of democracy in the international political agenda has become essential for many reasons, including its supposed propensity to reduce economic disparities. First, at Chapter 1 we overview the theoretical and empirical discussion from which we find that despite the common sense that democracy must be related to a more egalitarian citizenship, its effects on inequality is still debatable. Even with a reasonable theoretical consensus that democracies must somehow produce a better distribution of goods; the empirical results are inconclusive and contradictory. After that, facing such empirical impasse, we propose at Chapter 2 a reformulation about the rationale to explain and analyze the effects of democracy on inequality. The main contribution of this thesis lies in both the theoretical and the empirical claim that these effects are heterogeneous and should interact with the level of inequality and, therefore, the assumption that these effects are homogeneous and independent of the socio-economic context of inequality is wrong. In Chapter 3, we present the data and concepts of democracy and inequality. We assume that democracy is characterized as a political regime in which leaders compete through elections and we test whether the effects vary along the distribution of economic inequality measured by the Gini coefficient. To do that, we conducted a series of quantile regression models, appropriate to evaluate the alternative hypothesis whether the effects are heterogeneous or homogenous. The theoretical argument, from which we elaborate the hypothesis of heterogeneous effects, refers to the need for a convergence between the electoral interests of the parties - the supply side - and the political cleavages on which a majority of voters have potential interest being played - the demand side for other public policies and platforms. Hence, it is necessary to discuss the conditions that lead the political leadership to use the problem of economic 11 inequality as an electoral argument and the conditions under which a demand by citizens for redistribution via state action rises. Only at the most unequal societies the political parties have an interest in offering redistributive policies, as well as there is a higher propensity for a redistribution demand by a majority of voters. In Chapter 4, we proved empirically that the effects of democratic competition at more unequal societies are different from the effects of democracy in more equal societies; and these effects tend to be greater toward inequality reduction only at more unequal societies. These results are robust to different statistical model specifications, data and measurement methods, about both democracy and inequality, and to the use of different time horizons. Even when we extend the time frame of the analysis to the period before World War II - using new data that covers XIX century, the veracity of the hypotheses about the heterogeneous effects and that these effects of democracy toward the reduction of inequality are larger at the most unequal societies remains intact. Finally, beyond this theoretical and empirical issue of crucial importance, we also control the analysis for potential reciprocal relationship between democracy and inequality. This is because while much of the literature discusses the potential effects of egalitarian democracy, another important literature debate discusses whether greater inequality increases or reduces the probability of a country become or remain democratic. Hence, we present a list of valid instrumental variables to estimate the effects of democracy on inequality independent of the relationship between inequality and democracy

El presente plan de negocios tiene por objetivo establecer la viabilidad técnica y financiera para desarrollar un proyecto hotelero de categoría tres estrellas en la amazonia de Iquitos. La investigación iniciada con un diagnóstico de la situación del mercado externo general, a través del análisis PESTE; identificó un macroentorno favorable para el desarrollo del presente proyecto; por otro lado; mediante un análisis del entorno competitivo (análisis de las cinco fuerzas de Porter) se logró identificar la intensidad de la competencia local y sus eslabonamientos estrechos existentes con los principales proveedores u operadores turístico-locales. Por tanto; ello ha permitido visualizar un panorama competitivo favorable para incursionar en el sector hotelero de la ciudad de Iquitos con una propuesta de valor ecológica diferenciada. Los resultados obtenidos mediante una investigación de mercado (encuestas de campo) ha conducido a determinar que la principal preferencia de consumo en los servicios hoteleros en la ciudad de Iquitos se basa en hospedajes de categoría tres estrellas; cuyo principal demandante son los trabajadores profesionales tanto dependientes como independientes. Así mismo; mediante un estudio de mercado (investigación del tipo cuantitativa); efectuado al mercado hotelero de Iquitos; se ha logrado identificar y cuantificar la demanda pernoctaciones insatisfecha en la categoría tres estrellas en la ciudad de Iquitos; corroborando las oportunidades de negocio en este sector. El estudio económico-financiero efectuado a la presente propuesta ecológica de negocio concluyó la viabilidad técnica y financiera del proyecto. Los resultados de este estudio determinaron que los flujos; tanto económico como financiero descontados al costo ponderado de capital y a la tasa mínima requerida por el accionista respectivamente; son positivos. Lo que implica que los beneficios futuros privados derivados de las operaciones comerciales del hotel ecológico son superiores a los costos o egresos incurridos. Por lo que resulta rentable para el inversionista desarrollar este tipo de iniciativa privada. En ese contexto, la originalidad del presente proyecto radica en la construcción de un hotel ecológico flotante; cuya oferta de servicios plantea una propuesta de valor que armoniza el diseño físico y las operaciones comerciales del hotel con la biodiversidad natural y cultural de la amazonia de Iquitos. Por ello la ubicación del hotel situada a 16 Km al Noreste de la ciudad de Iquitos; entre las intersecciones del rio Nanay y el lago Mapacocha; contribuye a desarrollar una propuesta ecológica de negocio no solo basándose en servicios únicos de hospedaje sino en la prestación de múltiples servicios complementarios de entretenimiento. / The purpose of this business plan is to establish the technical and financial viability to develop a three-star hotel project in the Amazonia of Iquitos. The research started with a diagnosis of the situation of the general external market, through the PESTE analysis, identified a favourable macro environment for the development of the present project, on the other hand, by means of an analysis of the competitive environment (analysis of the five forces of Porter ) it was possible to identify the intensity of local competition and its existing close links with the main providers or touristic-local operators. Therefore, this has allowed us to visualize a favourable competitive landscape to enter the hotel sector of the city of Iquitos with a proposal of differentiated ecological value. The results obtained through market research (field surveys) has led to determine that the main preference of consumption in hotel services in the city of Iquitos is based on three-star category accommodations, whose main claimant is professional workers, both dependent and independent. Likewise, through a market study (research of quantitative type), carried out in the hotel market of Iquitos, it has been possible to identify and quantify the demand for unsatisfied overnight stays in the category three stars in the city of Iquitos, corroborating the business opportunities in this sector. The economic-financial study carried out on the present ecological business proposal concluded the technical and financial feasibility of the project. The results of this study determined that the flows, both economic and financial discounted at the weighted cost of capital and at the minimum rate required by the shareholder respectively, are positive. This implies that the private future benefits derived from the commercial operations of the ecological hotel are higher than the costs or expenses incurred. So, it is profitable for the investor to develop this type of private initiative. In this context, the originality of this project lies in the construction of a floating eco-friendly hotel; whose offer of services proposes a value proposition that harmonizes the physical design and its commercial operations of the hotel with the natural and cultural biodiversity of the Amazon of Iquitos. Therefore the location of the hotel located 16 Km northeast of the city of Iquitos; between the intersections of the Nanay River and Lake Mapacocha; it helps to develop an ecological business proposal not only based on unique hosting services but on the provision of multiple complementary entertainment services. / Trabajo de investigación

Not available

國際能源機構(IEA)每個月的石油報告已經變成預測世界石油供給與需求一個很重要的資源。因此，我們蒐集從1990年10月到2005年12月中國際能源機構所發佈的179次宣告，利用事件研究法來衡量國際能源機構對石油相關市場的影響性。 實證結果顯示，國際能源機構的石油報告的確對石油相關市場傳達重要的資訊；而國際能源機構報告的影響效果似乎會隨著國家的不同而有所不同；在當中，石油的生產和消費量多寡、石油的密集度和油價中稅占的比例都扮演重要的角色；此外，在國際能源機構的報告中，關於預測石油需求變化這方面似乎特別被大家所重視。 / This study examines the impact of International Energy Agency's Oil Market Reports on oil-related prices. The IEA reports, published monthly in Paris, have become the primary source of world oil supply and demand forecasts. We collect 179 announcements that released by IEA over the period October 1990 to December 2005. We analyze the effects of these reports on three oil-related markets, IPE Brent Crude futures, oil industry indices and stock prices of oil companies in six countries. Moreover, we separate the effects of IEA’s forecast changes on oil supply from non-OPEC countries and oil demand from North America and China in IEA’s report. The results confirm that IEA’s reports carry important information source for oil-related markets because more than one half of our sample companies have abnormal returns around the announcement date of IEA’s reports, and we explore these prices respond negatively to the release of IEA’s reports. We also find that the actively traded IPE Brent Crude futures contracts are affected by IEA’s reports, particularly for the change of demand in North America. Forecast changes in IEA’s reports regarding supply in non-OPEC countries, demand in North America and China show that most countries are affected by the changes in these reports. The evidences also show that British and Norwegian oil stock markets react more strongly to the change of oil demand in North America and China. Moreover, we find that participants in the oil market put more emphasis on demand changes reported by IEA, especially for China demand. And we provides empirical evidence that these companies are concerned more about the related releases of decreased demand in North America and increased demand in China. Finally, cross-sectional analysis of cumulative abnormal returns suggests that the reaction of American and Norwegian companies to IEA’s announcements is stronger than other countries, and the change of demand in North America and China and the size variable for individual company contribute to the changes of abnormal returns around IEA’s reports.

Not available / text

The North American forest industry has long been an important part of North America’s economy. The industry has traditionally been the only industrial demand on timberland creating a long established balance between the supply (timberland) and the demand (manufacturing). Recently the forest industry has been troubled due to the collapse of the solid wood products largest market, housing, and a global recession. These troubled times have lead many operation in the industry to curtail operations. Since the industry curtailed, high oil prices and increasing environmental concern have advocated the investment in renewable energy sources. As a renewable energy source, biomass holds great potential for satisfying a portion of our continental energy demands. This increased demand for timberland products could be very profitable to the timberland owners but also holds many concerns to the extent of additional supply that can be harvested from our timberlands. Further complicating the balance of supply and demand are the large global and domestic effects that are reducing the total amount of timberland and increasing the demand for the remaining timberlands. The supply and demand changes have the potential to make the forest industry evermore important part of the North American economy but care must be taken to not over extend our resources.

Labour legislation was introduced into agriculture in the early 1990s with the Basic Conditions of Employment Act (BCEA) being gazetted in 1992. Since the mid-1990s "new" labour legislation pertaining to agriculture has been implemented in South Africa, and includes the Basic Conditions of Employment Act 75 of 1997 (amended), the Unemployment Insurance Act 63 of 2001 (amended), the Labour Relations Act (LRA) 66 of 1995, the Land Reform (Labour Tenants) Act 3 of 1996, the Extension of Security of Tenure Act 62 of 1997, the Employment Equity Act 55 of 1998, the Skills Development Levies Act 9 of 1999, and the Sectoral Determination (an amendment of the BCEA 75 of 1997) which includes the imposition of minimum wages. This study examines the legislation in detail as well as the implications of this legislation for agricultural labour employment in South Africa. A relative increase in the cost (transaction and wage) and risk associated with labour motivates farmers to replace labour with machinery, machinery contractors, labour contractors or new technologies that are labour-saving. This results in a decrease in the demand for unskilled workers and higher levels of poverty and unemployment in South Africa. This study estimates long-run price elasticities of demand for regular labour in South African (SA) agriculture using both Ordinary Least Squares (OLS) regression and a Two-stage Least Squares (2SLS) simultaneous equations model. The 2SLS model includes a labour supply equation. Secondary data obtained over a 43 year period (1960-2002) from Statistics South Africa and the Abstract of Agricultural Statistics were used in this study. Both models were estimated for the period 1960-2002, and included a piecewise slope dummy variable for wages with the threshold year taken as 1991 to reflect expected changes in farm labour legislation. Study results show that the estimated long-run price elasticity of demand for labour for the pre-1991 (i.e., 1960-1990) period was -0,25 for the OLS model and -0,23 for the 2SLS model suggesting that the demand for regular labour was jnelastic during this period. For the post-1991 period (1991-2002), the long-run elasticity was estimated as -1,32 for the OLS model and -1,34 for the 2SLS model. This shows a structural change in demand that questions the appropriateness of minimum wage and other labour legislation that has raised the cost of regular farm labour in South Africa. Labour legislation introduced in the early 1990s encouraged farmers to substitute casual workers for regular workers. However, the inclusion of all casual workers in minimum wage legislation from 2006 is expected to slow the casualisation of agricultural labour as farmers turn to labour contractors, chemicals and machinery as the next best substitutes. The study found that an increase (decrease) in the price of chemicals (pesticides and herbicides for crops, and labour saving dips and sprays for animals) result in an increase (decrease) in the demand for regular labour. The demand for labour is also sensitive to changes in real interest rates (used as a proxy for machinery costs). The cost of capital would decrease (increase) as interest rates fall (rise), resulting in farmers adopting more (less) machinery and equipment, causing a decrease (increase) in the demand for regular labour, ceteris paribus. In order to reverse the regular labour unemployment trend in SA agriculture, government could choose to adopt more flexible labour market regulations (i.e., legislation regarding the hiring and dismissing of farm workers, and increases in wages and benefits for the farm worker could be based on the individual performance of each worker as opposed to increasing the wages of the entire workforce through minimum wages) which would reduce labour costs and encourage farmers to employ more labour. / Thesis (M.Agric.Man.)-University of KwaZulu-Natal, Pietermaritzburg, 2006.

Ce mémoire consiste en une analyse des stratégies de l’offre et de la demande de l’industrie québécoise de la production télévisuelle francophone pour la jeunesse et plus précisément, pour l’auditoire des 12-17 ans. Cette industrie tendrait à investir davantage dans l’importation que dans la production d’émissions pour cet auditoire, dû à la faible écoute de ses productions par leur auditoire cible. Afin de mieux saisir les enjeux politiques, économiques et sociaux qui entourent l’industrie de la production télévisuelle pour la jeunesse, nous proposons d’explorer et de comparer l’offre télévisuelle destinée aux 12-17 ans et leur consommation télévisuelle. Cette analyse quantitative et statistique de l’offre et de la consommation se fait en trois étapes : (i) l’analyse de la structure de réception (émissions à succès, écoute des filles et des garçons, temps passé à l’écoute), (ii) l’analyse de la structure de programmation (mode de diffusion, genres télévisuels, origine des émissions, thématiques des émissions), et (iii) l’analyse de la structure thématique (thématiques associées aux épisodes et des personnages). De ces analyses, divers constats apparaissent. Tout d’abord, les jeunes consomment ce que les télédiffuseurs diffusent à leur intention, malgré l’accès limité à cette offre. De plus, plusieurs tactiques semblent être mises en œuvre afin de rentabiliser la diffusion de ces émissions, principalement la rediffusion. Finalement, ces émissions destinées aux adolescents se distinguent de celles offertes au grand public, non seulement par le public qu’elles tentent de rejoindre, mais aussi par les thématiques qu’elles abordent et la manière dont elles les abordent. / This research is an analysis of the supply and demand for Québec's French-language television production for youth and more specifically the 12 to17 years old demographic. As a result of low audience figures, the industry has a tendency to invest heavily in imported programs rather than the production of local programs. To better understand the political, economic and social issues surrounding the industry of television production for Youth, we propose to explore and compare the television supply aimed at 12 to 17 year-old and their television consumption. The quantitative and statistical analysis of supply and consumption is achieved in three ways: (i) the analysis of the receiving structure (programs with top ratings, differences between boys and girls and time spent), (ii) the analysis of the structure of programming (schedules, genres, country/province of production, main themes of programs) and (iii) the analysis of thematic structure (themes associated with episodes and characters). From this analysis, several findings emerge: Young people view what producers broadcast for them, despite the limited access to this supply. In addition, several tactics seem to be implemented to sustain the economics of the distribution of these programs, mainly multiple screening. Finally, these programs, aimed at adolescents, are fundamentally different from those for older audiences, not only by the audience they are trying to reach, but also by the themes they address and how they approach them.

This research examines the impact of purchasing constraints and demand variability on working capital balances. The working capital accounts considered are creditors, debtors and raw material inventories. Purchasing constraints and demand uncertainty are defined. The supply chain of the South African cable industry, and one manufacturer in particular, and the challenges faced in the cable manufacturing process are discussed. To quantify the influences, a comparison between working capital accounts in the case of economic order quantity and actual purchasing practices is performed. A simulation model is developed to reproduce a larger sample of demand data, matching the cumulative probability density function of each cable type contained in the annual sales budget. The results show, that the working capital accounts react differently to changes in purchasing conditions and variations in demand, the most sensitive being raw material inventories. The study quantifies the influence of purchasing constraints on each working capital value. / Business Management / M.Com. (Business Management)

The main goal of my graduation thesis is the working-out project for tourism development in selected areas of Šumava. The project proposal for tourism development is specifically located in the village Frymburk. The proposal of project is called Reconstruction of pension to extend season in winter season. The purpose of this project is to provide accommodation services in the winter months due to installation of new heating equipment. Within the fulfillment of partial objectives, the thesis is concerned with identifying opportunities in the tourism market in selected areas, identifying the optimum technical and securing the project, and are also identified two variants of the financial security of the project.