Search results

This chapter presents a South American perspective on the environmental and financial sustainability of energy integration incorporating recent financial lessons from the United States and Europe. An illustrative project called UNASUR-GRID is presented to highlight new thinking on funding ecologically sensitive development (post-carbon electricity generation) and regional energy sovereignty via a new regional development bank for the Union of South American Nations (UNASUR) called Bank of the South, Banco del Sur (BDS) ^1,2 . Sustainable BDS finance rules are presented that aim to break the link between development funding, environmental damage, and sovereign debt owed to banks outside the region, tapping into alternative finances to buffer the region against changes in global financial flows from core nations in the Great Recession.

The author attended presidential meetings of MERCOSUR and UNASUR supplementing this with presidential declarations comparing these with ongoing development planning from IIRSA, also interviewing a COSIPLAN representative. He also cooperated (as an independent researcher) with the Ecuadorian Central Bank research group called ‘New Architectures for Regional Finance’ (NAFR) and conducted technical interviews at South American energy institutes specialising in integration.

Development finance must reflect changes in both energy supply and demand while replacing fossil fuel inputs in electricity generation. Demand planning is necessary to attain sovereignty over a post-carbon electricity supply while maintaining dependability.

Successful energy cooperation is more than just energy infrastructure (UNASUR-GRID), cross-border confidence building is also required, reinforced by commercial treaties for energy exports and imports. Public and private national and regional energy companies need real incentives to trade internationally (improving competition) or renationalisation of supply and distribution may be necessary.

Highly original, this chapter incorporates government, UN and civil NGO inputs into primary research. BDS policy sources include government, ministerial and presidential speeches with interviews and participation in meetings with social movements. For indigenous ecological and social economic concepts such as Sumak Kawsay, the author has travelled extensively in South America and was an active participant at the first World People’s Conference on Climate Change and the 2010 Rights of Mother Earth (World Conference on Indigenous Peoples, 2014) in Cochabamba, Bolivia, along with ecologists and tribal representatives.

The concept of corruption is frequently represented as relating to social practices that violate established rules and norms. This paper, however, seeks to demonstrate that corrupt practices are often only possible because they in fact draw on existing institutional mechanisms and cultural dispositions that grant them a certain social approval and legitimacy. The paper aims to explore these issues through a detailed exploration of corruption in Nicaragua, which outlines how competing élite groups have been able to use different discourses to appropriate resources from the state in quite different ways, reflecting the use of contrasting mechanisms for justifying and legitimizing corruption.

The paper focuses on two key periods of recent Nicaraguan political history: that which occurred during the administration of ex‐President Arnoldo Alemán and the events that unfurled in the aftermath of a chain of bank bankruptcies that occurred in Nicaragua during 2001. These events are explored in the context of David Harvey's ideas of “accumulation by dispossession.”

In contrast with more classic practices of corruption in Nicaragua that have openly violated existing formal rules and norms but appealed to an ethos of redistribution and a historically‐specific concept of “the public” in order to imbue their actions with legitimacy, the corrupt practices related to recent banking bankruptcies engaged in an extensive instrumentalization of formal state institutions in order to protect élite parochial interests and to achieve “accumulation by dispossession” through appealing to the legitimating support granted by multilateral financial institutions.

The paper illustrates sharply the inadvisability of perspectives that narrowly define corruption in legalistic terms. Such perspectives focus exclusively on the state as the location of corruption, whereas clearly, in Nicaragua as elsewhere, corruption is a far more complicated phenomenon which crosses the artificial boundaries between private and public sectors. It also evolves and takes a myriad different forms which are intimately connected with the ongoing struggles for control of accumulation processes, suggesting a much more integral role for corruption within accumulation strategies than often allowed for in both orthodox economic and Marxist literatures on capital accumulation.

The purpose of this study is to examine how brand attachment is related to brand experience. The model tests the partial mediating role of brand trust and the moderating role of age and income.

A total of 334 participants consuming brands with an experiential offering completed an online questionnaire in a cross-sectional study. The data were analyzed through partial least squares structural equation modeling (PLS-SEM), and advanced methods such as the heterotrait–monotrait ratio and the Henseler’s multigroup analysis were used.

Brand experience is positively related to brand attachment, more so for younger consumers. This relationship holds for both hedonic and utilitarian brands. Results demonstrate the partial mediation of brand trust in this relationship, especially for utilitarian brands, and with a weaker indirect relationship for high-income consumers.

The research was conducted in one country (Peru). Generalizability of results should be established by carrying out additional studies in other settings or countries.

Experiential marketing both as a positioning strategy and through marketing operations may help brands to increase consumer attachment. This may be managed both through the direct effect of favoring positive experiences and through the enhancement of brand trust. This is particularly the case for target markets composed of young and low-to-medium-income consumers.

Results confirm the impact of brand experience on brand attachment for both utilitarian and hedonic brands, and establish both the mediating role of brand trust and the moderating role of age and income. These are new insights on the process itself and on boundary conditions of an important established relationship.

Avant‐propos sous les auspices de l'Institut international de Coopération intellectuelle, paraissait en 1934 le t. I, consacré à l'Europe, du Guide international des Archives. Le questionnaire envoyé à tous les États européens comportait sous les points 4 et 6 les questions suivantes: ‘Existe‐t‐il un guide général pour les diverses catégories d'Archives ou des guides particuliers pour l'une ou l'autre d'entre elles?’ et ‘Existe‐t‐il des catalogues imprimés, des publications tant officielles que privées, susceptibles de constituer un instrument complet de référence pour tout ou partie importante des fonds d'archives?’ Les réponses des divers pays à ces questions, malgré leur caractère très inégal, ont fait du Guide international un bon instrument d'information générale sur les Archives. Malheureusement les circonstances ont empêché la publication du volume consacré aux États non européens, tandis que le temps qui s'écoulait tendait à rendre périmés les renseignements fournis sur les Archives européennes.

This paper analyses the evolution of the financial inclusion and its main determinants in seven Latin American countries.

The database used is the Global Findex from the World Bank for the latest data released that includes the years 2011 and 2014. The variables used are formal financial accounts, formal savings and formal credit as proxies of financial inclusion for the years of study. Moreover, the use of debit and credit cards is considered. The methodologies applied are the mean difference tests, in order to contrast the hypotheses of the inclusion evolution and binary probit regressions models.

The results of the analysis show that there is a positive evolution in the use of financial instruments in the countries of the sample, especially in the use of formal accounts. On the other hand, considering the characteristics of the individuals, age, level of education and income positively affect their financial inclusion.

There are no similar works for the region of study that allow us to evaluate the evolution of financial inclusion considering the variables selected in the literature. It is possible to clearly fulfil the proposed objective, highlighting the importance of implementing financial inclusion policies in view of the low percentage of use of the instruments in the analyzed countries.

Este trabajo analiza la evolución de la inclusión financiera y los principales determinantes que la afectan en siete países de América Latina.

Se utiliza la base de datos Global Findex del Banco Mundial, considerando los últimos datos relevados para los años 2011 yrs 2014. Se usa las variables cuentas financieras formales, ahorro formal y crédito formal como proxies de la inclusión financiera en los años de estudio, como así también la tenencia de tarjetas de débito y crédito. Se aplican test de diferencias de medias a fin de contrastar las hipótesis propuestas de evolución de la inclusión y se estiman modelos de regresión binaria probit.

Los resultados del análisis muestran que existe una evolución positiva en el grado de inclusión financiera. Se identifica un mayor uso de los instrumentos financieros en los países de la muestra, siendo la tenencia de cuentas en instituciones financieras formales la variable más significativa. Por otro lado, considerando las características de los individuos, se encuentra que la edad de las personas, el nivel de educación y de ingresos afectan positivamente a la inclusión financiera de los individuos.

No existen trabajos similares para la región de estudio analizada que nos permitan evaluar la evolución de la inclusión financiera considerando las variables proxies seleccionadas de la literatura. Se logra cumplir el objetivo planteado, destacando la importancia de implementar políticas de inclusión financiera ante el bajo porcentaje de uso de los instrumentos en los países de la muestra.

In this issue there are seven published research articles originating from Argentina, Spain, Chile and Mexico. The subjects of the articles are varied: first, the best performance determinants of banks in eight South American countries; second, the determinant factors of short term bank‐debt policies of companies, particularly the effect of growth opportunities, the ownership structure of companies and the institutional surrounding; third, the use of personal loans instead of institutional loans in small and medium size companies; fourth, the impact of the economic groups characteristics on the performance of its companies and the benefit of groups to the economy; fifth, the priorities of the companies in the use of logistic services within the supply chain; sixth, the impact of the corporate responsibility in the image and loyalty in hotel brands; seventh, the entrepreneurial intention when starting up a new company and the determinants of his perception on advantages and disadvantages of undertaking the venture.

En este número se publican siete artículos de investigación originados en Argentina, España, Chile y México. Los temas de los artículos son variados: 1‐ Los determinantes del mejor desempeño de los bancos en ocho países latinoamericanos. 2‐ Los condicionantes del plazo de vencimiento de la deuda bancaria de las empresas, en particular el efecto de oportunidades de crecimiento, la estructura de propiedad de la empresa, y el entorno institucional. 3‐ El uso de préstamos personales en lugar de institucionales en las empresas pequeñas y medianas. 4‐ El impacto de las características de los grupos económicos en el desempeño de las empresas y en el beneficio de la economía en conjunto. 5‐ Las prioridades de las empresas en el uso de servicios logísticos dentro de la cadena de suministro. 6‐ El impacto de la responsabilidad corporativa en la imagen y lealtad de marca de los hoteles. 7‐ La intención de emprender y los determinantes de la percepción sobre sus ventajas y desventajas.

The integral approach to risk is currently an important background for the local development processes within the sustaintability framework. Given the greater frequency and intensity of extreme climatic events in the period 2005-2015, whose inventory shows a total of 78 extreme climate events in the four thermal stations, the purpose of this paper is to analyze risk situations and their corresponding management in the tourist destinations (TD) of the Atlantic coast of Buenos Aires, Argentina.

Risk management in TDs has not been addressed in depth in the study area. Because of that, this study is exploratory and descriptive, and it was conducted by quantitative and qualitative methods. The occurrence of extreme weather events was the trigger of this study. Thereafter, the existence of risk situations was analyzed from the combination of natural hazards and material and human damage. The actions taken by the public sector were identified to make a diagnosis of the current management of coastal destinations in the province of Buenos Aires.

The result of this study shows that TDs do not apply integral models of risk management, as only 16% of the total registered events were attended by public management from reactive measures to the event. It is believed possible to replicate this study in other TDs, regardless of its main tourism modality, as the analysis carried out in the coastal destinations of Buenos Aires shows that it is necessary to plan and manage risk to avoid and/or mitigate material, social and economic damages of the resident and tourist population.

The main implication of the study, in practical terms, is associated with the incorporation of specific equipment for the detection of storms and other meteorological phenomena. In addition, it should start, from the management, with a process of awareness of the resident and tourist population about the risk and its consequences.

Knowing the existence of natural hazards is a strategic resource for public management. From the identification of the hazards, exposure and vulnerability of the population, it is possible to begin to take measures to mitigate the risk and conduct awareness campaigns about the risk situations that may arise from the occurrence of meteorological phenomena. in beach areas. In this sense, the development of a culture of risk is very important.

The relationship between the occurrence of extreme weather events and tourism has not been addressed in depth in Argentina. Therefore, this work provides an interdisciplinary vision (from tourism and physical geography) about the hazards that extreme phenomena represent in TDs, the situations of risk that they detaches there and the weakness of public management in coastal destinations of Buenos Aires. This case study shows that the absence of planning and risk management has serious implications for the continuity of the development processes of the destinations.

Competitiveness has become essential to business survival. Accordingly, the purpose of this chapter is to study the competitiveness of micro-, small-, and medium-sized enterprises (MSMEs) in Latin America under the systemic competitiveness model under COVID-19. Documentary research was conducted, based on reports from the Inter-American Development Bank, the Economic Commission for Latin America and the Caribbean, the World Bank, and the Organisation for Economic Co-operation and Development, among others. The main findings reveal an alarming deterioration at the macro, meso, and meta levels, which requires the design of public policies that consider the situation of MSMEs as essential for reducing poverty and unemployment affecting the region. Although MSMEs hold some advantages at the micro level, they need to receive direct support to enable them to stay afloat and make productive and technological investments.

This article studies how the Regenerative Government (1880–1903) in Colombia positioned monetary policy as one of the central subjects in the political arena by the end of the nineteenth century, and how the struggles of this attempt transformed the political economy of the period. In the background of the monetary, debates were some relevant characteristics: the country was facing serious difficulties as a consequence of an uneven integration of sectors to international trade, the de facto bimetallic regime, the formation of conglomerates of regions, and the difficulty of implementing paper money. Facing this situation, the Regenerating Governments found themselves in the need of imposing monetary and credit rules. They attempted to implement the scientific rules prevailing at the time and the possibilities that the national reality allowed them. As a consequence, the interests of the merchant elites and bankers had eroded the existing free banking system. Some bankers took advantage of the situation of the dubious management that the State gave to the monetary issue and succeeded on speculative finance increasing their wealth. Others, on the other hand, tried to strengthen their relations with the State. In this perspective, this article will synthesize the main aspects by agents of the debate between free banking and forced course.

Nel riprendere come Libero Docente le mie lezioni presso la Facoltà di Giurisprudenza dopo un lungo intervallo di anni in cui il Corso è stato impartito per Incarico, cioè a titolo ufficiale, prima nella facoltà di Scienze Politiche e poi in quella di Economia e Commercie, ritengo opportuno accennare alle vicende di questo insegnamento che ha segnato in certo modo il punto di partenza ed insieme il banco di prova del primo tentativo di sistematica scientifica della trattazione del turismo dal punto di vista economico e statistico. E mancherei ad un preciso dovere e ad un impulso spontaneo del mio animo se in questa occasione non rivolgessi un memore e devoto pensiero al mio grande ed indimenticabile maestro, Augusto Graziani, che seppe inculcarmi la passione per gli studi di economia politica: debbo anzi a lui anche lo specifico orientamento verso l'indagine turistica, perchè il primo tema che egli mi propose nelle esercitazioni di seminario degli Istituti Giuridici dell'Università di Napoli (oh magnifica palestra per noi giovanissimi studenti appena usciti dal Liceo!) fu quello della bilancia dei pagamenti internazionali con particolare riguardo alle cosidette partite «invisibili».