Made available in DSpace on 2016-04-26T20:48:34Z (GMT). No. of bitstreams: 1 Gustavo Carvalho Tapia Lira.pdf: 1286443 bytes, checksum: 62f3cefe3bc713ec45e832d58c5d8dec (MD5) Previous issue date: 2011-06-02 / Conselho Nacional de Desenvolvimento Científico e Tecnológico / This study consists in analysis of the application of oil revenues in Brazil. Depart from the hypothesis that this application should be attentive to the intergenerational justice, as it is a non-renewable mineral resource and much of its use should be invested in public policy on future generations. Our analysis will focus on the capture of these rents by the State of Rio de Janeiro, in the form of royalties and special taxes which were used to pay the public debt with the Federal Government as part of the fiscal adjustment program. In our investigation, the application of these rents, justified in the interests of macroeconomic equilibrium, it can be explain by the fundamentals elements of contemporary capitalism, the financialization" / Este trabalho se propõe a estudar a aplicação das rendas do petróleo no Brasil. Partiremos da hipótese de que sua aplicação deve se ater à questão intergeracional, uma vez que se trata de um recurso mineral não renovável e boa parte de seu uso deveria ser investido em políticas públicas voltadas às gerações futuras. Nossa análise se concentrará na captação destas rendas pelo Estado do Rio de Janeiro, sob a forma de tributos (royalties e participações especiais), que foram entregues à União a fim de saldar parte de suas dívidas negociadas no Programa de Apoio à Reestruturação e ao Ajuste Fiscal dos Estados. Em nossa interpretação, a forma de aplicação atual destas rendas, justificadas em prol de um equilíbrio financeiro e fiscal do governo federal, faz parte do movimento de financeirização da economia

In a developing oil-based economy like Libya the availability of finance is largely affected by the availability of oil revenues which are subjected to disturbances and shocks. Therefore, the decision to save and invest a certain ratio of the country's aggregate output is, to large extent, determined (and affected) by the shocks in the oil markets rather than the requirements of economic development. In this study an attempt is made to determine the optimal rate of saving and investment, both defined as a ratio of the aggregate output, according to the requirements of economic development. For this purpose, a neo-classical Ramsey-type model for Libya is constructed and applied to obtain theoretically and empirically the optimal saving and investment rate during the period (1965-1991). The results reveal that Libya was investing over the optimal level during the oil boom of 1970s and less than the optimal level during the oil crisis of 1980s. In addition, an econometric investigation of the determinants of actual investment by sector (agriculture, non-oil industry, and services) is carried out in order to shed lights on how possible it is for Libya to adjust actual investment towards its optimal level. It is found that, as expected, the most important factor which can be used in this respect is the oil revenues or, generally, the availability of finance. In addition, the study reveals that investment in agriculture is associated, during the period of study, with a very low marginal productivity of capital whereas marginal productivity was higher in both non-oil industry and services. Finally, the study investigates also the future potential saving and investment rates and concludes that the economy, which has already reached its steady state, can be pushed out towards further growth if the economy can be able to increase the level of per worker human capital, proxied by the secondary school enrolment as a percentage of population. / Secretariat of Higher Education in Libya and Libyan Interests Section in London

In a developing oil-based economy like Libya the availability of finance is largely affected by the availability of oil revenues which are subjected to disturbances and shocks. Therefore, the decision to save and invest a certain ratio of the country's aggregate output is, to large extent, determined (and affected) by the shocks in the oil markets rather than the requirements of economic development. In this study an attempt is made to determine the optimal rate of saving and investment, both defined as a ratio of the aggregate output, according to the requirements of economic development. For this purpose, a neo-classical Ramsey-type model for Libya is constructed and applied to obtain theoretically and empirically the optimal saving and investment rate during the period (1965-1991). The results reveal that Libya was investing over the optimal level during the oil boom of 1970s and less than the optimal level during the oil crisis of 1980s. In addition, an econometric investigation of the determinants of actual investment by sector (agriculture, non-oil industry, and services) is carried out in order to shed lights on how possible it is for Libya to adjust actual investment towards its optimal level. It is found that, as expected, the most important factor which can be used in this respect is the oil revenues or, generally, the availability of finance. In addition, the study reveals that investment in agriculture is associated, during the period of study, with a very low marginal productivity of capital whereas marginal productivity was higher in both non-oil industry and services. Finally, the study investigates also the future potential saving and investment rates and concludes that the economy, which has already reached its steady state, can be pushed out towards further growth if the economy can be able to increase the level of per worker human capital, proxied by the secondary school enrolment as a percentage of population.

Par-delà son aspect morphologique, l’accumulation du capital est avant tout une dynamique sociale dans laquelle les configurations que prennent les rapports sociaux jouent un rôle clé. La présente étude a pour but de montrer que dans le contexte particulier d’une économie rentière (type pétrolier, en l’occurrence), la question de la crise du régime rentier d’accumulation peut être appréhendée de façon particulièrement féconde à travers l’analyse de la combinaison des formes institutionnelles considérées comme fondamentales par l’Ecole de la régulation. L’étude se propose, sur la base d’une périodisation des formes institutionnelles, de caractériser successivement dans un premier temps les évolutions qui se sont produites dans les configurations concrètes de chacune des formes institutionnelles qui, ensemble, constituent un mode de régulation. Dans un second temps, il s’agit d’examiner la compatibilité des régulations partielles et leur aptitude à générer et piloter un nouveau régime d’accumulation qui soit en rupture avec le régime rentier. L’étude conclut que, paradoxalement, seule l’implication du politique, et donc de l’Etat, est à même de permettre la définition d’un arrangement institutionnel favorable à l’accomplissement d’une telle rupture. / Beyond its morphological aspect, the capital accumulation is above all a social dynamics in which the configurations that take the social connections play a key role. The objective of the current research study is to show that within a particular context of a rent-oriented economy (oil, in the circumstances), the accumulation issue may be understood in a productive particular way through analyses of the forms of institutional combination, which are considered as fundamental by the Regulation School. Our investigation aims, on the basis of an institutional forms periodization, to characterize successively the evolutions that occurred within concrete configurations of each institutional form, which, together, form a mode of regulation. In a second phase, we examine the compatibility of the partial regulations, and their abilities to generate and command a new accumulation system breaking with the Rent-oriented régime. Our study concludes that, paradoxically, only the politics involvement, so the government, is able to determine an institutional arrangement favorable to accomplish such a break.

This study is based on interviews with local business owners in the Brazilian municipality of Maricá, Rio deJaneiro, conducted in November 2021. The municipality receives royalties from the rich oil reserves that werefound in the bottom of the pre-salt area of the Atlantic Ocean, and has implemented a basic income programcalled Renda Básica de Cidadania (RBC). The RBC benefit is paid through a social digital currency via the localcommunity bank, which is a model developed by the Conjunto Palmeiras in Fortaleza that has spread throughoutBrazil as the ‘Palmas model’. The Palmas model does not include a basic income but uses community banks todevelop a ‘solidarity economy’ with a local social currency, whose circulation is restricted to within thecommunity. This thesis discusses how the RBC interacts with the Palmas model and considers potentialproblems and solutions arising in the case of Maricá in relation to local economic development, political trustand political participation. The study uses previous research about basic income, social currencies, solidarityeconomies, political trust and political participation to look at how public institutions and civil society interactwith the local market in Maricá. The study also investigates how this relationship is affected by the basic incomeprogram and by the move toward a solidarity economy with a local social currency.The study finds that the business owners who were interviewed participated in the implementation of the RBCthrough their usage of the social currency Mumbuca. They have accepted the social currency and the use ofMumbuca is well consolidated and normalized as a currency among the local business owners interviewed.They do not participate in any more active way in the community bank, but the study shows that through theiruse of the currency they are important actors for the consolidation of a solidarity economy in the municipality ofMaricá. The study shows that the respondents did not see the RBC as a basic income, but as a cash-transfer tothe poor. The majority of respondents believed that the implementation of the RBC and the social currency hadcontributed to the local economic development of the municipality, but that the main factor in the localeconomic development was the wealth of the municipality. The study shows that the respondents' level of trusttoward public institutions was considerably high.