•PPCDAm promoted a drastic conservation reform in Brazil.•Many PPCDAm-related activities are not discussed in the literature.•Recent surge in deforestation may jeopardize previous success from ...PPCDAm.
The Action Plan for the Prevention and Control of Deforestation in the Legal Amazon (PPCDAm), launched in 2004, promoted a drastic conservation reform in Brazil. To date, the plan has been through four distinct phases: PPCDAm-I (2004–2008), II (2009–2011), III (2012–2015), and IV (2016–2020). A substantial decline from historically high deforestation rates in the Amazon occurred from 2004 to 2012, part of which (particularly after 2007) can be attributed to the PPCDAm, and part to economic factors such as commodity prices and the currency exchange rates that affect the profitability of agricultural exports. After 2012 deforestation has trended upward despite control efforts. The PPCDAm evolved through its four phases, consequently changing the patterns of deforestation in Amazonia. Here, we review the conservation instruments and strategies promoted under the PPCDAm umbrella and, when possible, provide estimates of their impacts on deforestation based on rigorous, counterfactual evaluations. While the literature emphasizes some of the most well-known PPCDAm actions, e.g., improved satellite-based monitoring, the “blacklist” of municipalities, expansion of protected areas, land tenure regularization, credit access restrictions, and moratoria, we highlight a number of other PPCDAm activities that, along with the previous examples, are arguably also responsible for a significant share of the reduction of deforestation in the region.
Chinese banks became major players in the global geography of finance. Yet studies of Chinese finance in Brazil focus on development ("policy") bank loans, overlooking commercial banks. This inhibits ...theoretical advancements beyond the idea that Chinese finance in Latin America is largely "resource-seeking" in nature. Meanwhile, studies of the internationalization of the renminbi focus on state-led policy mechanisms in leading international financial centers, overlooking the expansion of renminbi exchange by commercial banks on the peripheries of global financial networks. I triangulate data from the Brazilian Central Bank, Chinese bank reports, and qualitative materials to present the first comprehensive account of Chinese commercial banking in Brazil. Although they are not yet major players, they are becoming important suppliers of trade finance and currency exchange services. I argue this reinforces challenges to the theory that Chinese finance in Brazil is primarily resource-seeking, and emphasizes that currency-exchange services play a central role in the internationalization strategies of Chinese finance on the peripheries of global financial networks.
Symbiotic interactions between eukaryotes and prokaryotes are widespread in nature. Here we offer a conceptual framework to study the evolutionary origins and ecological circumstances of species in ...beneficial symbiosis. We posit that mutual symbiotic interactions are well described by three elements: a currency, the mechanism of currency exchange, and mechanisms of symbiont inheritance. Each of these elements may be at the origin of symbiosis, with the other elements developing with time. The identity of currency in symbiosis depends on the ecological context of the symbiosis, while the specificity of the exchange mechanism underlies molecular adaptations for the symbiosis. The inheritance regime determines the degree of partner dependency and the symbiosis evolutionary trajectory. Focusing on these three elements, we review examples and open questions in the research on symbiosis.
Inspired by the evolution of eukaryotic organelles, we propose a conceptual framework to study the evolutionary and ecological drivers of symbiosis, including three main elements: a currency, mechanisms of currency exchange, and inheritance.Currency in symbiosis is the type resources that species in a beneficial symbiosis gain from their partner.Currency exchange is a complex process that requires molecular adaptations in one or both partners.We identify two distinct but not mutually exclusive initial evolutionary imperatives for the establishment of symbiosis, termed currency first, in which the initial interaction stems from a common currency exchange between the interacting partners to complement their environmental requirements, and transmission first, in which stable transgenerational transmission precedes the evolution of currency exchange.
During the early period of the Joseon Dynasty, the government undertook currency reform at both central and local levels to promote currency exchange and restructure market order. Drawing on ...historical sources and utilizing game theory methodologies, this study examines the challenges of state governance and the dynamics of central-local relations during this era. The findings suggest that the establishment of the Joseon Dynasty's governance system arose from the rulers' deliberate decisions; however, it was also driven by the necessity to reconcile the development of productive forces with the superstructure. The study highlights the impact of the "official" issue on communication efficiency between central and local authorities, which contributed to the currency reform's failure. Consequently, the central government's regulation and control over local regions, as well as its ability to govern the aspirations of grassroots populations, emerged as crucial factors for successful national governance. This research provides valuable insights into the academic value and significance of historical state governance practices and informs contemporary centrallocal relations and policy development.
The current study is aimed at investigating the relationship between the use of renewable energy, the rate of currency exchange, and the rate of inflation with the ARDL model. The findings of the ECM ...show that in the long run, a bidirectional association between exchange rate and renewable energy exists in Brazil. This shows that the rate of currency exchange affects the use of renewable energy, and the use of renewable energy affects the rate of currency exchange. The inflation rate also affects renewable energy and exchange rate in the long run. The rate of adjustment to equilibrium is also below 50%, indicating that it will take a long time to adjust to long-run equilibrium. In the short run, we ascertain that renewable energy use has a significant negative effect on the rate of currency exchange, showing that a rise in the use of renewable energy significantly causes the exchange rate to appreciate. The long-run results show that renewable energy use negatively impacts exchange rate (appreciation), while the inflation rate and rate of currency exchange significantly affect the use of renewable energy positively. Thus, in addition to lowering carbon dioxide emissions and global warming effects, renewable energy use also facilitates an improvement in the currency’s value. Therefore, the use of renewable energy should be promoted, and nations should shift to the use of renewable energy. This will also promote zero carbon in the future.
Exploration of ANNs for the economic purposes is described and empirically examined with the foreign exchange market data. For the experiments, panel data of the exchange rates (USD/EUR, JPN/USD, ...USD/GBP) are examined and optimized to be used for time-series predictions with neural networks. In this stage the input selection, in which the processing steps to prepare the raw data to a suitable input for the models are investigated. The best neural network is found with the best forecasting abilities, based on a certain performance measure. A visual graphs on the experiments data set is presented after processing steps, to illustrate that particular results. The out-of-sample results are compared with training ones.
In the article, based on the analysis of statistical indicators of the world and national tourism (in 112 countries), studying tourists impact on the destinations natural environment, the change in ...the indicator of average expenditures of a foreign tourist in the period 1995 - 2022 is assessed, its values are correlated with the dynamics of national inflation and fluctuations in the exchange rates of national currencies at the current moment considering temporary lags. An assumption is made regarding the limit value of one billion international tourist trips per year as a condition for economies of scale in the global tourism industry, a time lag of one year is determined as a condition for the impact of national inflation on the amount of foreign tourist expenditures, and the insignificance of the impact of the national currency exchange rate on the dynamics of tourism expenditures is substantiated.
The aim of the article is to check the accuracy of forecasts of neural networks on the currency market and the impact of fuzzy sets on their accuracy. The study presented in this article uses an ...original approach that considers the use of neural networks and fuzzy sets in the mechanism of investment decision making. The empirical study is based on projections of the three currency pairs of the Swiss franc, British pound, and the dollar against the euro. These currencies are forecasted using three different neural networks - ELM, MLP and LSTM, for ten different forecast horizons (from 1 to 10 days). In forecasting, neural networks use historical data, both for price levels and rates of return. The research carried out confirmed that the presented method is in many cases more accurate than the methods compared to it in this study
In order to understand the impact of Covid-19 on different economies, this paper tries to underline the effects of the Covid-19 pandemic over some of the most traded currencies. For this purpose, a ...period of 3 years has been taken into consideration and the data was analyzed with the help of MetaTrader platform. The findings indicate a correlation between the pandemic and the volatility of the analyzed exchange rates. The results indicate that the observed pairs where affected negatively by the pandemic crisis. Thus, the effect of the pandemic is not only on a short time, but the effects will also be seen on a longer period of time.
Structural changes occurring in the crude oil market have stimulated the emergence of hypotheses suggesting that the relationship between prices of this raw material and the US dollar exchange rate ...can gradually become similar to that observed between oil prices and exchange rates of the currencies of the countries whose revenues from the export of this resource are a significant part of their current account balance. The purpose of this study was to determine and evaluate the time-varying dependence between oil prices and the exchange rate of the US dollar in the context of the same relationship for the Chinese, European, Japanese, Saudi, and Russian currencies. The results of our analyses implicate that a negative correlation between the variables in question grows stronger in time periods preceding global shocks and during thereof. The dominance of the USD in the crude oil market is reflected in similar characteristics of the correlations of the currencies of other countries, such as China, countries of the Euro area, or Japan. As for countries exporting crude oil, the situation varies. The results of our research suggest the lack of a stable relationships between prices of crude oil and currency exchange rates. It is also impossible to observe a long-term, unequivocal tendency of the currencies of oil exporting countries being positively correlated with oil prices. Russia was the closest to this situation. In Saudi Arabia, a positive correlation emerged during moments of crisis.
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