Equally a study of the ecological foundations of political systems and an analysis of how a particular Third World political system, Brazil's, addresses environmental issues, this book explores the institutional and political dimensions of environmental problems in developing countries. Roberto Guimaraes discusses the theoretical linkage between ecology and political science, presents a historical analysis of those linkages in Brazil, and looks at the structure for environmental policy formation and implementation in Brazil through a case study of the Special Secretariat for the Environment (SEMA).
This paper analyzes the effects of intervention on the level and volatility of the exchange rate in Mexico and Turkey, two emerging countries that have floating exchange rate regimes. The paper finds mixed evidence on the effectiveness of intervention. In Mexico, foreign exchange sales have a small impact on the exchange rate level and raise short-term volatility, while in Turkey, intervention does not appear to affect the exchange rate level but reduces its shortterm volatility. In both cases, the findings are consistent with officially stated policy objectives, which aim to minimize the effect of intervention on the exchange rate, but cast doubt on claims that intervention is a useful tool for smoothing volatility. Although these findings cannot be generalized to other emerging markets, intervention's apparently limited effectiveness highlights the need for central banks to use their scarce foreign reserves selectively and parsimoniously.
Urban pests are common all over the world. These include cockroaches, flies, mosquitoes, bed bugs, ticks, fleas, ants, termites, rodents and others. These pests thrive in human structures, where there is food, warmth and places to hide. Urban pests are one of the leading causes of illnesses in humans due to allergies, bites, food contamination and phobias. They can also cause significant damage to property and structures. Knowledge and training in this field is vital for professional and trainee pest managers. This book is specifically intended to provide an aid to such candidates. The book contains 500 multiple-choice questions (and answers) grouped into major topic areas.
We estimate the subnational employment and GDP multiplier of Brazil's 2020 federal cash transfers to vulnerable households. Using two-stage least squares regressions we estimate a formal employment multiplier and then apply an analytical transformation to recover an implied GDP multiplier in the range of 0.5-1.5. The lower bound of this range lies below most estimates in the literature, which may result from the exceptional constraints imposed by the pandemic on supply chains and consumption. Nevertheless, even using the lower end of our range implies that federal cash transfers played an important role in supporting employment and GDP.
This paper offers guidance on the operational aspects of official intervention in the foreign exchange market, particularly in developing countries with flexible exchange rate regimes. A brief survey of the literature and country experience is followed by an analysis of the objectives, timing, amount, degree of transparency, and choice of markets and counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention is a highly subjective excercise, and some degree of discretion is almost necessary, though policy rules may serve as "rules of thumb.
Despite increasing exchange rate flexibility, central banks in emerging markets still intervene in their foreign exchange markets for several reasons. In doing so, they face many operational questions, including on the degree of transparency and the choice of markets and counterparties. This paper identifies elements of best practice in official foreign exchange intervention, presents survey evidence on intervention practices in developing countries, and assesses the effectiveness of intervention in Mexico and Turkey.
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