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The purpose of this study is to examine two issues, namely the degree of current account deficit (CAD) sustainability and the degree of capital mobility.
Abstract
Purpose
The purpose of this study is to examine two issues, namely the degree of current account deficit (CAD) sustainability and the degree of capital mobility.
Design/methodology/approach
The sample for this study comprises 24 Latin American and Caribbean countries, including three regional agreements: Andean Community, MERCOSUR (Mercado Común del Sur), and SICA (Central American Integration System). This study employs the dynamic common correlated effects mean group (DCCEMG) estimator in a panel data set to investigate the long-run relationship between savings and investment along with short-run dynamics.
Findings
The findings indicate that CAD is weakly sustainable in the Latin American and Caribbean region, MERCOSUR, and SICA, while CAD is strongly unsustainable in the Andean Community. The sub-period analysis reveals that CAD has been adversely affected by the 2008 crisis. However, in the post-crisis period, CAD has been slowly decreasing in the Latin American and Caribbean region and Andean Community, whereas CAD has continued increasing in MERCOSUR and SICA. Further, the estimates of error-correction terms and short-run coefficients indicate that the Andean Community and MERCOSUR observe a higher degree of long-run and short-run capital mobility than SICA.
Practical implications
The results carry fundamental implications for policy-making processes aimed at maintaining sustainable CADs.
Originality/value
This study gives an alternative interpretation of the “Feldstein-Horioka” coefficient in terms of CAD sustainability and analyses the saving–investment relationship in light of Chudik and Pesaran (2015).
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Harold Delfín Angulo Bustinza, Bruno de Souza and Roberto De la Cruz Rojas
Danilo Romeu Streck, Maria Julieta Abba, Paulina Latorre and Carolina Schenatto da Rosa
The article aims at exploring the challenges and possibilities of cooperation of higher education in a Latin American social, political and cultural context that faces historical…
Abstract
Purpose
The article aims at exploring the challenges and possibilities of cooperation of higher education in a Latin American social, political and cultural context that faces historical difficulties of integration, as well as the potential contribution of academic cooperation for global citizenship.
Design/methodology/approach
The paper presents a general overview of networks and international centers of academic cooperation of higher education in Latin America. The analysis comprises objectives, countries, stakeholders, activities, projects and scope. The study is based on literature on internationalization, regional integration and the development of higher education, as well as on empirical gathered with networks/centers and key actors in the field. This study was carried out as a mixed qualitative method design. Firstly, a systematic review of a literature corpus of studies produced by Latin-American scholars was performed. Semi-structured interviews were then carried out with a group of scholars who are members of networks.
Findings
The findings include a review of the role of higher education in a politically fragmented reality, a panorama of major networks and international centers of academic cooperation with emphasis on internationalization of higher education, as well as their connections. The are highlighted examples of successful initiatives of cooperation and, based on interviews, there is presented a preliminary view on cooperation and trust building from professionals in higher education in Latin America.
Originality/value
In the last decades, with the growing interest and need for internationalizing higher education, many universities have organized or joined networks and international centers. The article will contribute for mutual knowledge of these spaces, their shortcomings and potentials, thus creating conditions for dialogue among them, as well as with universities in other continents.
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Maria Laura Victória Marques, Daniel de Abreu Pereira Uhr and Julia Ziero Uhr
This paper aims to identify the income and price elasticities of demand for residential electricity in Latin America and the Caribbean (LAC) and to verify their main determinants.
Abstract
Purpose
This paper aims to identify the income and price elasticities of demand for residential electricity in Latin America and the Caribbean (LAC) and to verify their main determinants.
Design/methodology/approach
Meta-analysis and meta-regression methods were applied. After collecting and filtering journal articles, the authors obtained a sample composed of 76 studies covering 1979–2020.
Findings
The results show that the LAC's income elasticity is approximately 0.20 and 0.92 for the short and long term, respectively. The LAC's price elasticity is approximately −0.37 and −0.46 for the short and long term, respectively. Furthermore, the estimates are affected by the data structure, the estimation method used and the sampling period.
Originality/value
The authors close a gap in the literature by analyzing the price and income elasticities of demand through meta-analysis and meta-regression.
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The purpose of this paper is to propose a framework for evaluating the relationship between China and Peru, drawing on dependency theory, against the backdrop of China’s explicit…
Abstract
Purpose
The purpose of this paper is to propose a framework for evaluating the relationship between China and Peru, drawing on dependency theory, against the backdrop of China’s explicit policies towards foreign direct investment. It seeks to transcend traditional interpretations of this relationship in the literature that focuses on China as either hegemon or a South–South partner to Latin American countries to highlight a more nuanced relationship.
Design/methodology/approach
The paper adopts a case study approach, focusing on China in Peru. The authors examine three areas of traditional, strategic and emerging industries drawing from Chinese national policies, reviewing these against characteristics of dependency: control of production, heterogeneity of actors, transfer of knowledge and delinking.
Findings
The authors find that Chinese foreign direct investment (FDI) in Peru demonstrates mixed motives and collectively operates as an ambiguous player. Chinese firms appear to be willing to work with various actors, but this engagement does not translate into a decolonial development alternative in the absence of a Peruvian political will to delink and Chinese willingness to actively transfer control of production and knowledge.
Originality/value
This paper contributes to existing literature on China in Latin America by evaluating Chinese outward FDI in Peru against China’s strategic aims in terms of a re-evaluation of dependency theory.
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Harold Delfín Angulo Bustinza, Wilmer Florez Garcia, Valentín Calderón Contreras, Dagoberto Peña Cobeñas, Madeley Barrientos Moscoso and Valeria Zeballos Ponce
The main goal of this paper is to examine the evolution of Latin American productive integration in terms of the regional value added incorporated in intra-regional exports of…
Abstract
Purpose
The main goal of this paper is to examine the evolution of Latin American productive integration in terms of the regional value added incorporated in intra-regional exports of Argentina, Brazil, Chile, Colombia, Mexico and Peru. In addition, the study traces the trade and productive integration trajectories for each of these countries from 1995 to 2015.
Design/methodology/approach
Based on the use of OECD’s global ICIO input-output tables, this paper applies the methodological framework by Wang et al. (2018) for the analysis of trade flows at the bilateral level, which allows breaking down the value of gross exports of each sector-country, depending on the origin of the value added contained in exports, as well as their use.
Findings
The estimates show very low shares of value added from regional partners in the intra-regional exports of the countries studied. Conversely, the weight of the value added incorporated in these exports by countries outside the region has increased in tandem with China’s expanding involvement in Latin America. This development, along with the downward trend in domestic value added incorporated in exports, indicates a lack of a regional integration process of any depth.
Originality/value
This article addresses an economic problem of conventional importance from a global value chain perspective using a novel methodology based on the use of global input–output tables.
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Mónica Blanco-Jiménez, Ana Gabriela Víquez-Paniagua, Diana Maricela Vásquez-Treviño and Priscila Elizabeth Muñoz-Castro
The purpose of this study is to analyze the strategies that allow sowing social entrepreneurship initiatives among young university students in Latin America. This study will also…
Abstract
Purpose
The purpose of this study is to analyze the strategies that allow sowing social entrepreneurship initiatives among young university students in Latin America. This study will also help to understand the different needs and expectations currently treated in higher education in developing its role as a promoter of entrepreneurship in students.
Design/methodology/approach
The study uses a multinomial logistic regression method analysis based on data collected through an online survey and applied to a sample of 599 advanced business administration students in five Latin American countries.
Findings
The results indicate that three of the independent variables under study are relevant as strategies to instill in university students the initiative for creating social entrepreneurship: establishing links with social communities, providing entrepreneurial education with a social orientation, and offering financial education.
Research limitations/implications
These research findings indicate the role universities should have in promoting social entrepreneurship in university students. Therefore, the proposed strategies are crucial to improving this type of entrepreneurship.
Originality/value
The main contribution of this study is to analyze issues as crucial as social entrepreneurship in Latin American university students and broaden knowledge of the main strategies universities in this region must adopt so that students launch into the social area.
Propósito
El propósito de este estudio es analizar las estrategias que permitan sembrar iniciativas de emprendimiento social entre jóvenes universitarios de América Latina. Esto permitirá conocer las diferentes necesidades y expectativas que se tienen actualmente en la educación superior en el desarrollo de su papel como promotor del emprendimiento en los estudiantes.
Diseño/metodología
El estudio utiliza un análisis método regresión logística multinomial basado en datos recopilados a través de una encuesta en línea, aplicada a una muestra de 599 estudiantes avanzados de administración de empresas en cinco países latinoamericanos.
Hallazgos
Los resultados evidencian que tres de las variables independientes en estudio son relevantes como estrategia para sembrar en los estudiantes universitarios la iniciativa de crear emprendimiento social: el tener vínculos con las comunidades sociales, otorgar educación emprendedora con orientación social y el brindar educación financiera.
Implicaciones
Los hallazgos de esta investigación señalan el rol que deben de tener las universidades para fomentar el emprendimiento social en los estudiantes universitarios. Por lo tanto, se proponen estrategias claves para mejorar este tipo de emprendimientos.
Originalidad
La principal contribución de este estudio es analizar temas tan importantes como el emprendimiento social en los estudiantes universitarios de América Latina y ampliar el conocimiento de las principales estrategias que deben adoptar las universidades de esta región para que los estudiantes se lancen en el área social.
Objetivo
O objetivo deste estudo é an analisar as estratégias que permitem semear iniciativas de empreendedorismo social entre jovens universitários da América Latina. Permitirá conhecer as diferentes necessidades e expectativas atualmente tratadas no ensino superior no desenvolvimento do seu papel de promotor do empreendedorismo nos alunos.
Desenho/metodología
O estudo utiliza um método de análise de regressão logística multinomial baseado em dados coletados por meio de uma pesquisa on-line, aplicada a uma amostra de 599 estudantes avançados de administração de empresas em cinco países latino-americanos.
Resultados
Os resultados mostram que três das variáveis independentes em estudo são relevantes como estratégia para incutir nos estudantes universitários a iniciativa de criar empreendedorismo social: ter ligações com comunidades sociais, proporcionar educação empreendedora com orientação social e fornecer educação financeira.
Implicações
Os resultados desta investigação indicam o papel que as universidades devem ter na promoção do empreendedorismo social nos estudantes universitários. Portanto, as estratégias propostas são fundamentais para melhorar esse tipo de empreendedorismo.
Originalidade
A principal contribuição deste estudo é analisar temas tão importantes quanto o empreendedorismo social nos universitários latino-americanos, e ampliar o conhecimento das principais estratégias que as universidades desta região devem adotar, para que os estudantes se lancem na área social.
Details
Keywords
Latin America’s population is ageing rapidly amid declining birth rates and rising life expectancy. This is driving a need for urgent action to prevent demographic changes…