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Mora and Acevedo (2019) report that the government spending multipliers in Latin American countries are notably higher than what is typically reported for developed economies. Latin American countries have been inclined toward using procyclical fiscal policies. Those policies have been perceived as being effective at mitigating the effects of the 2008–2009 Great Recession. This study aims to estimate the government spending multiplier using Latin American panel data from 19 Latin American countries from 2000 to 2018. The estimates are conditional on the extent of openness, capital mobility and economic freedom. Based on the results, the latter is important: the less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

The authors provide regression results that are conditional on the extent of openness, capital mobility and economic freedom.

The less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

To the best of the authors’ knowledge, this is first study to estimate the fiscal multiplier conditional on economic freedom levels. The authors provide correctly calculated multipliers conditional on different levels of economic freedom. The authors point the way to future studies considering the effectiveness of fiscal policy conditional on institutional/policy quality.

The purpose of this paper is to analyze the dependence between the Chinese and Market Integrated Latin America (MILA) stock markets.

The authors adjust the multivariate probability distribution Variance Gamma (VG) on data yields from the Hang Seng Index (HSI) and MILA and they use the estimated parameters under VG to find a robust estimator of the correlation matrix yields.

The degree of dependence between stock indices from China, Peru, Mexico, Colombia and Chile. In addition, the impact of the change in the HSI affects mostly the movements of the selective stock price index (IPSA) and equally affects the index of the Mexican stock exchange (IPC) and Lima Stock Exchange (S&P/BVL). The effect on index of the Colombia Stock Exchange (COLCAP) is not significant.

Over time there are different structural changes so the time has been restricted to the years 2000-2015, but could extend the analysis to other time periods and sectors of listed companies in the indices.

The results can guide policy makers to assess the effect of a random crash on stock markets and measure the level of risk from other markets.

The results can generate a greater understanding of the relationship between the stock markets of China and the emerging countries of Latin America.

The value of this paper is to focus on alternative methodology to calculate the correlation matrix yields and measure the dependence between the Chinese and MILA stock markets.

This paper tests the accuracies of the models that predict the Value-at-Risk (VaR) for the Market Integrated Latin America (MILA) and Association of Southeast Asian Nations (ASEAN) emerging stock markets during crisis periods.

Many VaR estimation models have been presented in the literature. In this paper, the VaR is estimated using the Generalized Autoregressive Conditional Heteroskedasticity, EGARCH and GJR-GARCH models under normal, skewed-normal, Student-t and skewed-Student-t distributional assumptions and compared with the predictive performance of the Conditional Autoregressive Value-at-Risk (CaViaR) considering the four alternative specifications proposed by Engle and Manganelli (2004).

The results support the robustness of the CaViaR model in out-sample VaR forecasting for the MILA and ASEAN-5 emerging stock markets in crisis periods. This evidence is based on the results of the backtesting approach that analyzed the predictive performance of the models according to their accuracy.

An important issue in market risk is the inaccurate estimation of risk since different VaR models lead to different risk measures, which means that there is not yet an accepted method for all situations and markets. In particular, quantifying and forecasting the risk for the MILA and ASEAN-5 stock markets is crucial for evaluating global market risk since the MILA is the biggest stock exchange in Latin America and the ASEAN region accounted for 11% of the total global foreign direct investment inflows in 2014. Furthermore, according to the Asian Development Bank, this region is projected to average 7% annual growth by 2025.

The purpose of this paper is to draw insights from the actors-resources-activities (ARA) model and social capital literature to identify relevant activities shared by university-industry (U-I) actors prior to R & D cooperation.

Based on a qualitative methodology, a series of interviews were carried out with researchers from the biological sciences domain.

This study found that, at the outset of U-I links, companies’ motivations are strongly organizational, while academics are motivated at a personal level. The interactions grow from low-risk activities to partnerships on complex tasks, and depend on relational resources framed within the ARA and social capital theories. Results showed that shared interests are present at the outset of U-I links and grow thereafter. Trust and commitment were not ubiquitous at the outset, but rather at later stages of the cooperation, as a result of the developed interdependencies.

The combination of the ARA model and social capital in U-I links highlighted the different relationship levels (individual vs organizational), the disparities between early and established ties, and the interplay between low- and high-investment activities underlying researchers’ relationships. Several managerial contributions are presented for universities to promote greater integration with industry partners.

A new direction of research is presented towards lower levels of U-I cooperation, taking into account the relational resources and the activities shared in each level. This work distinguished the different actors’ motivations and clarified the role of trust and commitment at the outset of U-I links. This first assessment of Portuguese U-I interactions within the biological sciences provided valuable insights for both academics and practitioners.

Many of the papers that analyse human resource management (HRM) in merger and acquisition (M&A) processes focus on the last two stages (integration and implementation). Then, the purpose of this paper is to propose an HRM model for the first stage of the process (planning) with four key factors: the due diligence process, the integration plan, the communication plan and the learning plan.

From the theoretical model, the authors analyse a case study of a multinational company that operates in the mechanical engineering sector.

The results show the special importance of HRM in the success of the M&A process. And, the main actions implemented in human resources (HRs) contributing to the success of this process are identified.

Subsequent investigations could conduct similar analyses for the rest of the stages of the M&A process (integration and implementation), with the objective of presenting a complete HRM model in M&A processes.

The case study allows researchers to learn from professionals and business leaders while also offering a theoretical model that can help managers make decisions and improve the management of these processes.

The main contribution of this study has been to observe how HRs are managed in the planning stage of M&As.

For decades organizational citizenship behavior (OCB) has been of interest to scholars and practitioners alike, generating a significant amount of research exploring the concept of what citizenship behavior is, and its antecedents, correlates, and consequences. While these behaviors have been and will continue to be valuable, there are changes in the workplace that have the potential to alter what types of OCBs will remain important for organizations in the future, as well as what types of opportunities for OCB exist for employees. In this chapter we consider the influence of 10 workplace trends related to human resource management that have the potential to influence both what types of citizenship behaviors employees engage in and how often they may engage in them. We build on these 10 trends that others have identified as having the potential to shape the workplace of the future, which include labor shortages, globalization, immigration, knowledge-based workers, increase use of technology, gig work, diversity, changing work values, the skills gap, and employer brands. Based on these 10 trends, we develop propositions about how each trend may impact OCB. We consider not only how these trends will influence the types of citizenship and opportunities for citizenship that employees can engage in, but also how they may shape the experiences of others related to OCB, including organizations and managers.

The purpose of this paper is to discuss the role of Markovian transitions related to the economic convergence among countries. Thus, the paper aims to develop an overview of several classical approaches, including an analysis of fallacies exposed through the literature.

The number of modes in the distribution of the RGDPL for 100 countries in the period from 1986 to 2000 is calculated. Next, the results obtained from the relevant transition matrices are discussed and the existence of twin peaks in the distribution of income is analyzed. Finally, the adequacy of both Markovian and (time) homogeneity hypotheses in connection with the stochastic process that underlies income distribution is studied.

The results across the period 1986‐2000 show the evolution of countries into convergence clubs, instead of the existence of economic convergence.

The paper discusses two important issues on the convergence hypothesis. First, the discretization process really matters. If quartiles or quintiles are used the ergodic distribution does not show twin peaks because the process shows an equiprobabilistic ergodic (stationary) distribution in the long term. Second, the twin peaks results need a Markov (time) homogeneous chain as a model for the underlying income process, and then Chapman‐Kolmogorov's equation must be satisfied. However, the paper finds empirical evidences of failure in such an argument.

The purpose of this paper is to explore the differences in consumers’ preferences to food safety label (FSL) on vegetables in central and south central Chile in terms of sociodemographic characteristics, consumers’ food safety knowledge and frequency of vegetables consumption.

A survey was applied to 1,201 consumers in charge of buying vegetables for their households. The questionnaire measured consumer preference for FSL using tomatoes as a case study.

The most important attributes for consumers were price (57.3 percent), FSL (19.7 percent), point of sale (11.86 percent) and production system (11.07 percent). Cluster analysis was used to differentiate three types of consumers. The majority (50.5 percent) are consumers oriented to price of tomatoes more than other attributes. A second group (30.1 percent) considers it important to purchase tomatoes at the lowest price with the existence of a FSL. A minority (19.4 percent) was oriented to purchasing tomatoes with a FSL. The groups differ according to sociodemographic characteristics, food safety knowledge and frequency of vegetables consumption.

The study was conducted in country in South America. The results revealed that the majority of consumers choose price over FSL. Nevertheless, a potential market niche was identified that was motivated by FSL as a potential risk-reduction strategy when making choices about fresh vegetables purchase.

FSL is a marketing tool to help the consumers about food decisions.

To avoid problems associated to unsafe vegetables, FSL is used as a potential risk-reduction strategy when making choices about fresh vegetables purchase.

The research provides information about a market niche of consumers interested in the existence of an explicit FSL, due to their awareness of the risks associated with the consumption of vegetables. This topic has received little research in Latin American developing countries.

The national immigrant rights campaign of 2006 stands as one of the largest mobilizations by people of color in US history, yet less scholarly attention has been given to systematically comparing these mobilizations at the local level. To develop an understanding of what led to sustained mobilization, a comparative case study analysis of seven cities in California's San Joaquin Valley is employed. The empirical evidence is based on interviews with key organizers and participants, newspaper documentation of protest events, census data, and other secondary sources. I find that the presence and size of policy threats explained the initial protest during the spring of 2006 in all localities, but cities with elaborate resource infrastructures (preexisting organizations, histories of community organizing, and coalitions) had more enduring levels of collective action.