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Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to discuss the situation of Mauritius in the post-colonial geopolitical configuration of the Indian Ocean. The island nation, a former British colony that has been independent since 1968, is today confronted with geopolitical issues that place it within a dilemma. Its recent allegiance with India, through preferential trade partnership, makes claiming sovereignty over the Chagos Archipelago which was part of its territory before independence complicated. There is in an ongoing conflict with Great Britain and, indirectly, the United States on this contentious issue. At the same time, Mauritius needs to consider China’s influence in the region since it partners with most of the independent nations on matters of economic development. Mauritius itself has established an important trading platform through Chinese assistance. Concurrently, the Mauritian relationship with the United States cannot be compromised as it has been the major trading partner since 1794 with an embassy established in 1968. Hence, trapped between economic ties from all the partners engaged in the Indian Ocean, Mauritius strives to maintain its neutrality, while also being obliged to accept that its location, size and influence might not be enough to contest against past and emerging superpowers. To this end, the power games remain as complex as ever in the Indian Ocean when seen from a Mauritian perspective. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper explores potential and actual applications of space technology, particularly satellites in the context of sustainable development. The introduction explores the concept of sustainable development from a multilateral perspective and the framework of Rio+20 and the post-2015 development agenda. The paper then introduces space technology and its uses in economic growth, energy, food security, environmental surveillance, including coastal regions, with special emphasis on environmental disasters and the concept of resilience, and the social and welfare uses of humanitarian tele-medicine and tele-education and ways to overcome the digital divide. he conclusion gives recommendations to improve satellite capacity and an analysis of the systemic synergies between space technologies and "green industries" that may lead to tandem growth. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper analyzes the convergence hypothesis and the impact of social policy on the economic growth of the six largest countries in Latin America between 1980 and 2010. Results suggest that social public policies have positively influenced growth in these economies. Particularly, there are non-observed variables (fixed effects) that positively affect the economic growth in Venezuela and Chile; however, there are other non-observed variables that may be negatively affecting growth in Brazil and Mexico. Regarding the convergence hypothesis, results reveal that the speed of convergence diminishes as real income rises, implying that these countries might be converging to their stable states. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of capitalized power. The model demonstrates that (1) the valuation of equities represents capitalized power; (2) capitalized power is dialectically intertwined with systemic fear; and (3) systemic fear and capitalized power are mediated through strategic sabotage. This triangular model, we posit, can offer a basis for examining the asymptotes, or limits, of capitalized power and the ways in which these asymptotes relate to the historical and ongoing transformation of the capitalist mode of power. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The 1949 World Bank mission headed by Lauchlin Currie recommended an integral attack on the interlocking vicious circles of underdevelopment through a widening of domestic and international markets and a reform of macroeconomic policy formulation. In 1950 Currie was invited by the Colombian Government to return as adviser to a new national planning board. In 1952 Albert Hirschman was also hired as an adviser to this board. This paper discusses the heated disagreements between these two distinguished economists, their influence on the theory and practice of economic development in Colombia and of the World Bank, and in particular their focus on planning based on an integral program versus individual project approaches to planning. [ABSTRACT FROM AUTHOR]

Se presenta una serie de resúmenes en inglés y español para los artículos en este número, incluyendo uno sobre la modelación matemática en la economía, uno sobre la redistribución, desigualdad y crecimiento económico y uno sobre las equivalencias de escala.

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

El artículo presenta una bibliografía de artículos sobre la economía institucional e incluye "La efectividad en términos de desarrollo de las instituciones multilaterales bajo restricciones de acción colectiva," escrito por Eduardo Wiesner Durán, "Colombia en las dos fases de globalización," escrito por Salomón Kalmanovitz, y "Globalización del capital y desarrollo institucional del sistema financiero," escrito por Edgar Demetrio Tovar García.

Presents abstracts of several articles related to economic history. "The Colonial Origins of Comparative Development: An Empirical Investigation," by Daron Acemoglu, Simon Johnson and James A. Robinson; "Hume and Institutional Theory," by Carlos Mellizo; "Capitalism, Development and the State. A Critical Account of Schumpeter's Theory of the State," by Diego Sánchez-Ancochea.

In Mexico, wages have stagnated and profits have increased since 1980. This paper analyzes the causes of this performance both at an aggregate and sectorial level. Although in theory trade liberalization should have led to increased wages and a reduction of profits, an unlimited supply of labor prevented wages from increasing and transformed productivity gains in higher returns on capital. Growth of qualified employment was not the result of generalized technological advances; it reflected changes in the composition of labor supply. Higher investment in human capital does not necessarily lead to higher productivity or income. If the improvement in education of the labor force is to generate higher productivity, a public policy of stimulus for economic growth is required. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to present the main differences between New Institutional Economics, NIE, and Original Institutional Economics, OIE, and to question some of the proposals that call for the gap between the two approaches to be bridge. This does not preclude the possibilities of a dialogue. Without ignoring some important theoretical developments in North's work, the author claims that NIE is a school that operates in the periphery of the neoclassical economics paradigm, and shares its ontological and methodological foundations; however these are very different from the evolutionary (Darwinian) economics of Thorstein Veblen. Though the task of integrating the OIE and NIE seems impossible following the road of eclecticism, a dialogue between them could open new perspectives and enrich institutional economics. [ABSTRACT FROM AUTHOR]

Space, geography and territorial organization have gained importance in recent studies on economical and political development. This reveals a (re)territorialization of the theoretical approaches of development. This paper systematically studies new theories of economic growth, analysis of State transformation, neoinstitutionalist approaches and the environmental perspective. Though these theories come from different disciplines, they converge in a new paradigm of development. In this new approach, the territory is not considered a receptacle-perimeter of productive activities and sociopolitical process, but as an explanatory element of development. [ABSTRACT FROM AUTHOR]

The aim of this paper, which is part of a broader research project, is to analyse the fluctuations of output in a framework of imperfect competition based on the stylised facts. We conclude that these movements can be originated by supply or demand shocks, or simply by the adjustment of the economy when goods or labor markets are not balanced because of price and wages rigidities. On the other hand, it justifies the Keynesian argument related to government interference in cases where the economy cannot overcome a recessive stage on its own. [ABSTRACT FROM AUTHOR]

There has recently been a resurgence of interest in how institutions affect economic performance. A review of this literature reveals that the concept of an 'institution' means different things to different scholars, both within economics and across the social sciences. This paper discusses what factors unify the different definitions of institutions, and develops a concept of institutions useful for the analysis of economic performance, and economic growth in particular. Specifically, it develops the notion of institutions as standard 'social technologies'. Economic growth results from the co-evolution of physical and social technologies. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Se presenta un resumen en inglés y en español acerca del artículo "Incertidumbre, gobernabilidad y crecimiento económico. Venezuela 1968-2010," el cual enfoca en las condiciones económicas en Venezuela.

In this paper, we estimate a dynamic panel data model to determine the effect of various institutional factors on the performance of a sample of Colombian companies during the period 2002-2007. Our results indicate that the analysed companies are affected by these factors. Institutions associated with property rights and contract compliance have significant effects on the growth of the firms. On the other hand, financial development does not have a significant effect. [ABSTRACT FROM AUTHOR]

Copyright of Revista Derecho del Estado is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

El artículo discurre sobre la relación entre el crecimiento económico, la desigualdad y la pobreza en el mundo del siglo 21. El autor comenta sobre la falta de políticas económicas dedicadas a la población pobre, incluyendo la redistribución del ingreso y la reducción de la pobreza absoluta. También se considera la importancia de tanto el desarrollo como el crecimiento económico.

El artículo discurre sobre los ciclos económicos en Colombia durante el periodo 1960-2011. Los autores comentan sobre las condiciones económicas en Colombia en esta época y describen el desarrollo del producto interno bruto. También se consideran los cambios y las fluctuaciones económicos en Colombia.

El artículo discurre sobre la industria cafetera en Colombia. La autora comenta sobre el rol del éxito regional cafetero en el desarrollo económico y las condiciones económicas del país. También se consideran los derechos de propiedad en Colombia relacionados con la industria cafetero en los siglos 19 y 20.

El artículo discurre sobre la desigualdad económico del siglo 21 y los intentos de redistribuir la riqueza en las sociedades. Los autores comentan sobre el crecimiento económico durante este periodo y describen la relación entre este crecimiento y la desigualdad. También se provee un análisis macroeconómico entre varios países.

El artículo discurre sobre la relación entre la política fiscal, el consumo y la inversión en Argentina. El autor comenta sobre los aspectos macroeconómicos de estos variables y describe el crecimiento económico en el país a consecuencia de la demanda. También se consideran varias análisis econométricas.

El artículo discurre sobre el crecimiento económico en Nueva Granada (la actual Colombia) durante la segunda mitad del siglo 18. El autor comenta sobre algunas de las características atribuidas al desarrollo económico, incluyendo los precios y la oferta monetaria. También se analiza el cálculo del producto bruto interno durante este periodo.

El artículo discurre sobre la historia de las crisis financieras globales desde la Gran Depresión de la década de 1930 hasta la recesión de 2008-2009. El autor comenta sobre el impacto de las crisis en el empleo, la política fiscal y la política monetaria y examina la teoría económica asociada con el crecimiento.

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)