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The main objective of this study is to determine the financial indices and the macro-economic variables that dictate the patrimonial share value of Colombian Stock Exchange companies between the years 2015 and 2018. A fixed-effect panel data model is used. The results show that companies with high liquidity and assets have increased equity share value. On the other hand, acquired high indebtedness and non-operational expenses reduces patrimonial action value. Regarding macroeconomic variables, the greater the economic growth of the business sector, the greater the patrimonial action value. In contrast, the higher the nominal interest rate and the dollar's nominal exchange rate, the lower the equity share value. It is concluded that investors can predict the performance of patrimonial action values by examining financial and macroeconomic indicators. [ABSTRACT FROM AUTHOR]

In Mexico informality reaches 60 per cent of the employment generated in the country, where young people are affected by this phenomenon; about 30 per cent of this population is informal. This research identifies the effect of the most common causes that explain informality in the decision of young people (15 to 29 years) to choose an informal job. A panel data model with fixed effects is used with data from 2005 to 2019 from the National Employment and Employment Survey (ENOE) to know if the effect of these variables is similar over the years and in different groups of young people. The results show a six-to-one probability of obtaining informal employment upon graduation from university, and high educational levels do not guarantee formal employment among the young population. [ABSTRACT FROM AUTHOR]

This article analyzes the relative importance of exports and capital accumulation for growth rates in Argentina, Chile, and Mexico for the period 1961-2019, and Brazil for the period 1971-2019. This article finds evidence that capital accumulation has a significant positive effect on the growth rate, with exports also having a significant, although lesser, impact. Likewise, the effect of exports on reducing the external constraint to growth is insignificant compared to that of capital accumulation. The article concludes by suggesting that growth strategies should privilege capital accumulation, rather than exports. [ABSTRACT FROM AUTHOR]

The objective of this research is to analyse the factors that have influenced on housing market in Spain after the beginning of the financial crisis. To this end, this investigation has used a fixed effect data panel covering from 2008 to 2016 for 17 Spanish regions, which has taken into consideration supply and demand variables. Our findings suggest that demand is still the main price driver for the Spanish case. In addition, supply keeps pushing prices up, a symptom that may show the possible existence of a housing bubble. [ABSTRACT FROM AUTHOR]

Objective: To investigate the determinants for the participation of the mineral industry in the global value chains (GVCs) of the countries that will be analyzed. Method: With an explanatory nature and quantitative approach, this study used multiple regression as a statistical technique using the Fixed Effect Model. The data structure was in a panel referring to sixty-two countries for the period from 2001 to 2015. Main results: The results showed that 77% of developing countries have a low share of their respective mineral industries in GVCs compared to the average presented in the sample countries. Also, the estimation of the model suggests that the commercial opening and the qualification of the workforce are fundamental to increase the participation of this industry in CGVs. Relevance/originality: The mineral industry is strategic for many countries and plays an indispensable role throughout CGVs as one of the main suppliers of inputs. Despite this, few studies analyze this industry under the theoretical lens of CGVs. Theoretical/methodological contributions: This study seeks to expand the CGV literature by providing evidence of which factors contribute to the participation of the mineral industry in these chains. Social/management contributions (optional): Possible paths are presented that can improve the participation of this industry in GVCs. [ABSTRACT FROM AUTHOR]

Objective: From the political budget cycle (COP) lens, we investigated the behavior of committed expenditures, investment spending and borrowing in the electoral period, in Brazilian municipalities with a population of 50,000 or more, in the period 2000-2016, comprising 353 clusters and 6001 observations. It was also investigated whether these municipalities meet the legal requirements on the use of budget resources in an election year. The study was motivated by the lack of consensus in the literature on the subject in question. Methodology: Four research hypotheses were built to assist in achieving the proposed objectives. Data were collected from IBGE, TSE and STN websites. Data were analyzed using the balanced panel data method, grouped by municipality and region, with Tobit regression application and Hausman, Breusch-Pagan Lagrange and F de Chow robustness tests. This method covered confidence with the interval of 99%, 77%, 79% and 84% explaining behavior between the variables. Results: The results show that there were no changes in expenditure committed before, during and after the election period, regardless of party equality and two-round election, unlike the results of some studies. As for spending on investments and borrowing in the election period, the study suggests an average increase of 9% and 68% respectively, and this is more intense when there is party equality between municipal and state governments, especially in the process of reelection. Regarding compliance with legal requirements on the use of budgetary resources in an election year, the study indicates that local governments do not comply with regulatory requirements. Contributions of the Study: contributes to the specific literature, because it presents robust results on the lack of consensus on the subject in question, as well as for future research involving municipalities with smaller population and comparison between regions and countries. [ABSTRACT FROM AUTHOR]

Objective of the study: The main objective of this paper is to analyze the influence of innovative activities on the economic performance of Brazilian states. Given the importance of cooperation and collaborative networks for increasing productivity, the effects of social capital are analyzed in a complementary way. Methodology/Approach: With a database composed of 297 observations analyzed from 2000 to 2010 for each federation unit, including the Federal District, this work uses the traditional panel and dynamic panel data method to measure the impact of innovation in GDP. Originality/Relevance: The use of a theoretical model of growth decomposition, which includes variables such as social capital, human capital and natural capital, and the use of data with higher level of disaggregation, at the state level, presents methodological and empirical advances for Brazilian innovation literature. Main results: The results found point to a significant and positive effect of social capital and to the non-significance of the technological variable. Moreover, as evidenced by the literature, human capital is the main factor of increase of the Brazilian product. Theoretical/Methodological contributions: Regarding the theoretical aspects, the evidences, mainly, of the social capital show that the cooperation networks exert influence on the performance of the productive activities of the country. Social/Management contributions: Identifying the results of innovative activities is of paramount importance to policymakers as they can use this information to create new measures and / or to redirect existing technology policies. [ABSTRACT FROM AUTHOR]

The present research examines the issue of how the minimum wage and informal employment impact differences in income earnings. To this end, a Censorship Model is proposed that uses data codified for a subset of the population. Calculations for this model were performed using two econometric methods: Ordinary Least Squares (OLS) and the Generalized Method of Moments (GMM). In both cases, microdata from the National Occupation and Employment Survey where used for each federal entity, covering the period of 2005-2014. The results demonstrate that the minimum wage widens the gap in income earnings, while the informal sector has a reducing effect on differences in income earnings. [ABSTRACT FROM AUTHOR]

This study applies a quantitative approach in dynamic panel data to capture the determinants of employment quality in Brazil through the model of generalized minimum moments. The results show that the rural universe persists as a more precarious environment than urban areas, although the differences has decreased with time. In addition, the results of this study show that growth of labor income and the level of education of employees are important tools not only to expand the levels of job quality, but also as response to dilemmas of the surveyed labor markets. [ABSTRACT FROM AUTHOR]

Purpose - This study aims to examine the effects of energy consumption on economic growth by means of a panel data analysis of 75 net energy-importing countries for the period 1990 to 2012. Design/methodology/approach - For the purpose of the analysis, the countries are classified into two groups, and each group is then classified into subgroups. The first group is formed based on the energy import dependence of the countries and is classified into two subgroups according to whether their dependence is greater than or less than 50 per cent. The second group is formed based on the income level of the countries and is classified into four subgroups, specifically, low-income economies, lower-middle-income economies, upper-middle-income economies and high-income economies. Findings - The findings obtained for both panel data and for each country indicate that there is a positive and statistically significant relationship between energy consumption and economic growth over the long term such that energy consumption contributes more to economic growth as the import dependence of the country decreases. Moreover, the effect of energy consumption on economic growth decreases as the income level of the country increases. This indicates that the efficient use of energy is as important as energy consumption, which is regarded as an important indicator of economic development. Originality/value - The authors expect that these findings will make a valuable contribution to the results of future studies, as they analyze the relationships among the variables by including the energy intensities of the countries. [ABSTRACT FROM AUTHOR]

Using newly panel data on visa restrictions for the years 2000 and 2010 in a theory-grounded gravity model, we find a robust, causal negative impact of visa restrictions on international tourist flows. By destination, the detrimental impact of this type of barrier is observed for tourists going to developing countries (with the exception of East and South Asia), but not for those to developed ones. By country of origin o f tourists, the impact of visa restrictions appears to be the same for tourists coming from developed and developing countries. These findings have important consequences in policy terms for tourism management at a regional level. [ABSTRACT FROM AUTHOR]

This research is focused on explaining the drivers behind individual decisions to migrate internally in Mexico. Migration essentially arises in response to the per capita income disparities between regions; as such, these flows are directly related to the production geography in Mexico. In that sense, the New Economic Geography provides that the forces of agglomeration have a geographic impact on migration due to the economic influence of wages and employment levels, derived from the concentration of economic activity in just a few regions. [ABSTRACT FROM AUTHOR]

We carry out an empirical analysis to evaluate the likely effects of political alternation on corruption in Mexico after controlling for a set of economic and educational variables. We estimate the relevant coefficients from a panel data set for the period 2001-2010. We find evidence that actual political alternation restrains corruption. [ABSTRACT FROM AUTHOR]

En este documento se analizan los determinantes de los salarios relativos en la industria manufacturera de México durante el periodo de 1999-2008. El análisis se desarrolla en el marco de un enfoque integral que considera una perspectiva laboral, comercial y financiera. Se utiliza la metodología de datos de panel e información de la Encuesta Industrial Mensual del INEGI. Los resultados sugieren que la demanda relativa de trabajo calificado y no calificado incide directamente en el incremento de los salarios relativos de manera significativa. También se encuentra que la relación de las exportaciones e importaciones con los salarios relativos es consistente con lo que postula la teoría. Se identifica que los subsectores que presentan las mayores tasas de salarios relativos son los que presentan mayor dotación de trabajo calificado en relación con el no calificado. [ABSTRACT FROM AUTHOR]

This study explores the connection between management knowledge creation and the structural and relational characteristics of social networks. Over a six year period, a panel study on the social network characteristics of 121 researchers and their knowledge production in ISI Web of Knowledge found that the latter parameter manifests a positive association with the number of relationships held by a researcher on his/her network; a quadratic association with relationship strength; and a negative connection with network density. The study concludes that the structural and relational characteristics of social networks have a differential influence on knowledge creation, depending on research discipline. It is suggested to further investigate this influence in other disciplines. [ABSTRACT FROM AUTHOR]

After several decades of nil political competition, Mexican political system began a process of increasing competition since late 1980. There are several theories that try to explain such phenomenon. Particularly, we present some evidence about the positive role of education on Mexico's political competition. Our results indicate that across Mexican states political competition is positively dependent on higher education. Furthermore, in light of current theories, we argue that education is a necessary condition for the former. [ABSTRACT FROM AUTHOR]

The political turn over all levels of government in Mexico, it's a phenomenon that has been experimented since late 1980. However, the alternation at the State level is far from a homogeneous process. In this study we use economic variables to explain the political phenomenon at State level in Mexico. We used an econometric panel data model with discrete dependent variable for the period 1980-2009. We found a relation in U-shaped inverse between income inequality and political alternation. Furthemore, We found that political alternation is more likely to occur in states with fair electoral rules, high educational grades and international trade flows. [ABSTRACT FROM AUTHOR]

IT has transformed the banking industry in recent years, it has become strategic and vital for business. Given this context, the following main objective was to analyze the impact of IT investments in operating income of these banks. The econometric model was based on a Cobb-Douglas production function with three variables, the operating income, IT investments and personnel expenses. Data were extracted from COSIF system, operated by Brazilian Central Bank, and the research covered the period from 1997 to 2008. After the specification of the model, four analysis were conducted on the impact of IT investments: cross section, longitudinal analysis (panel data), comparative analysis of IT investments by domestic and foreign banks, and analysis of the behavior of these investments within the framework of the millennium bug (Y2K) and the implementation of the Brazilian Payment System (SPB). [ABSTRACT FROM AUTHOR]

The aim of this study is to compare the technical efficiency of the 13 public hospitals of the Maule region, Chile. The estimates were done with the stochastic frontier production method using a translogarithmic function. The information used came from a data panel for the 1999-2004 period, obtained from the Anuarios Estadísticos del Servicio de Salud del Maule (Health Service of the Maule Region Statistical Yearbooks). The 13 hospitals as a whole show a decreasing evolution of the technical efficiency, from 60% in 1999 to 57% in 2004. In terms of their complexity level, the evolution of the efficiency shows a similar trend, although there is a small difference in the level 3 and 4 hospitals, where the technical efficiency rates are slightly higher than the ones in level 1 and 2. It could be inferred that there is an inefficient use of the resources in the health system. In addition, the hospitals with more complexity are more efficient. [ABSTRACT FROM AUTHOR]