Revista Finanzas y Política Económica最新文献

{"title":"Efectos de las tarjetas de crédito en la estructura de consumo y la desigualdad de los hogares mexicanos","authors":"Owen Eli Ceballos-Mina, Luis Enrique Santiago-Ayala","doi":"10.14718/revfinanzpolitecon.2019.11.2.5","DOIUrl":"https://doi.org/10.14718/revfinanzpolitecon.2019.11.2.5","url":null,"abstract":"En este artículo se analizan los efectos de la tenencia de tarjeta de crédito (TC) sobre la estructura y la distribución del gasto de las familias mexicanas en el 2016. Para ello, se usan regresiones cuantílicas en dos etapas para estimar modelos de los determinantes del consumo y se instrumenta el efecto de las TC por categoría de gasto. Se evidencia así que estas tienen un efecto positivo sobre el consumo agregado, guiado principalmente por el aumento del gasto en salud y rubros menos básicos como vestido, comunicaciones y esparcimiento. A su vez, se encontró que no tienen efectos significativos sobre los gastos en educación y bienes durables. Los efectos de las TC son mayores en la parte alta de la distribución de consumo, por lo que pueden cuestionarse dichos efectos sobre la reducción de la desigualdad y el bienestar futuro de las familias, dadas las condiciones del proceso de inclusión financiera en el país.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"272 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122767983","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Integración entre mercados de petróleo de diferente calidad con base en las correlaciones condicionales dinámicas","authors":"Raúl De Jesús-Gutiérrez","doi":"10.14718/revfinanzpolitecon.2019.11.2.8","DOIUrl":"https://doi.org/10.14718/revfinanzpolitecon.2019.11.2.8","url":null,"abstract":"Este artículo prueba el grado de integración de México en los mercados internacionales del petróleo a través de la evolución de las correlaciones dinámicas en periodos estables, de crisis e inestables. Las estimaciones del modelo GARCH-CCD muestran que las correlaciones son positivas y cambian con el tiempo en respuesta al origen de choques en los precios del petróleo para los periodos de relativa calma, crisis y turbulencia financiera. Asimismo, los resultados del estadístico-t y valor-p bootstrap confirman que las correlaciones son significativamente diferentes en periodos de estabilidad e inestabilidad con respecto a las correlaciones del periodo de crisis, lo que favorece la hipótesis de regionalización entre los mercados de petróleo. Los hallazgos tienen importantes implicaciones económicas y financieras para el gobierno y los consumidores.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"40 24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128478569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"La implementación de los Acuerdos de Paz y el desarrollo en Colombia","authors":"Joan Miguel Tejedor-Estupiñán","doi":"10.14718/revfinanzpolitecon.2019.11.2.1","DOIUrl":"https://doi.org/10.14718/revfinanzpolitecon.2019.11.2.1","url":null,"abstract":"Colombia is a multicultural and multiethnic country, surrounded by two oceans, with thousands of paramos, lagoons, and rivers born in a complex geography created by three mountain range systems. A territory that, from its highest points to its plains and jungles—like the Darien Gap or the Amazon—, offers an almost infinite variety of ecosystems and ways of life, due to which the country has been included in the exclusive group of megadiverse nations of the world. A nation rich in solar, wind, river, mineral, agricultural, and maritime resources, but with its industrial and service sectors still under development, where high levels of violence, poverty, and inequality are still part of the country’s reality.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114778990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Capital Structure-Firm Value Nexus: Moderating Role of Profitability","authors":"Hamed Ahmad Almahadin, Y. Oroud","doi":"10.14718/revfinanzpolitecon.2019.11.2.9","DOIUrl":"https://doi.org/10.14718/revfinanzpolitecon.2019.11.2.9","url":null,"abstract":"espanolEste estudio tiene como objetivo investigar el papel moderador de la rentabilidad en la relacion entre la estructura del capital y el valor de la empresa en Jordania como ejemplo de una economia emergente. Con este proposito en mente, se formularon dos modelos funcionales para entender la relacion directa y el impacto de la interaccion entre la estructura del capital y el valor de la empresa. Los solidos resultados empiricos del analisis de datos de panel proporcionan una fuerte evidencia de una relacion adversa entre la estructura del capital y el valor de la empresa. Los resultados confirman que el impacto de la estructura de capital parece ser de naturaleza complicada y dificil de examinar sin controlar la interaccion de la rentabilidad como uno de los principales determinantes. Por lo tanto, estudiar el efecto de interac-cion no solo proporciona una amplia evidencia, sino tambien contribuye a un mejor entendimiento del vinculo entre el valor de la empresa y la estructura de capital. Los resultados empiricos del estudio pueden ofrecer importantes ideas e implicaciones politicas para los responsables de la toma de decisiones. EnglishThis study aims to investigate the moderating role of profitability in the relationship between capital structure and firm value in Jordan, as an example of an emerging economy. For this purpose, two functional models were formulated to capture the direct relationship as well as the interaction impact of capital structure on firm value. The robust empirical findings of panel data analysis provide strong evidence of an adverse relationship between capital structure and firm value. The findings confirm that the impact of capital structure appears to be complicated in nature and difficult to examine without controlling for the interaction of profitability as one of the major determinants. Therefore, studying the interaction effect provides ample evidence and enhances the understanding of the link between firm value and capital structure. The empirical results of the study may provide important insights and policy implications to decision-makers portuguesEste estudo tem como objetivo pesquisar o papel moderador da ren-tabilidade na relacao entre a estrutura do capital e o valor da empresa na Jordânia, como exemplo de uma economia emergente. A partir desse proposito, foram formulados dois modelos funcionais para entender a relacao direta e o impacto da interacao entre a estrutura do capital e o valor da empresa. Os solidos resultados empiricos da analise de dados de painel proporcionam uma forte evidencia de uma relacao adversa entre a estrutura do capital e o valor da empresa. Alem disso, confirmam que o impacto da estrutura do capital parece ser de natureza complexa e dificil de analisar sem controlar a interacao da rentabilidade como um dos principais determinantes. Portanto, estudar o efeito da interacao nao somente possibilita uma ampla evidencia, mas tambem contribui para entender melhor o vinculo entre a es","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134043892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of Transport Infrastructure Development and Competitiveness in the Member Countries of Pacific Alliance (2007-2016)","authors":"Raul Alberto Cortes-Villafradez, Nicolas De la Peña-Cárdenas","doi":"10.14718/revfinanzpolitecon.2019.11.2.4","DOIUrl":"https://doi.org/10.14718/revfinanzpolitecon.2019.11.2.4","url":null,"abstract":"The development of transport infrastructure is a key element for increasing competitiveness, as it reduces the distance effect and freight transport costs, allowing the generation of efficiencies in market integration. This descriptive study uses a comparative methodology, taking as variables the indicators of global competitiveness of the member countries of the Pacific Alliance during the period 2007-2016. The analysis of the results shows a weak trend in the infrastructure development of the Pacific Alliance group and a notable asymmetry among the member countries. There is a need for an individual strategy in each country that is in line with the objectives of trade integration in Asia. Another finding suggests that the achievement of better indicators depends on other significant variables and on the way in which the costs of transport infrastructure investments are passed on to agents who move freight.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121858731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of Transport Infrastructure Development and Competitiveness in the Member Countries of Pacific Alliance (2007-2016)","authors":"Raul Alberto Cortes Villafradez, Nicolás De la Peña Cárdenas","doi":"10.14718/rfype.2019.11.2.2209","DOIUrl":"https://doi.org/10.14718/rfype.2019.11.2.2209","url":null,"abstract":"The development of transport infrastructure is a key element for increasing competitiveness, as it reduces the distance effect and freight transport costs, allowing the generation of efficiencies in market integration. This descriptive study uses a comparative methodology, taking as variables the indicators of global competitiveness of the member countries of the Pacific Alliance during the period 2007-2016. The analysis of the results shows a weak trend in the infrastructure development of the Pacific Alliance group and a notable asymmetry among the member countries. There is a need for an individual strategy in each country that is in line with the objectives of trade integration in Asia. Another finding suggests that the achievement of better indicators depends on other significant variables and on the way in which the costs of transport infrastructure investments are passed on to agents who move freight.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130879105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinantes del balance comercial bilateral de México: ingreso, tipo de cambio y composición de las exportaciones","authors":"Carlos A. Carrasco, E. Tovar-García","doi":"10.14718/REVFINANZPOLITECON.2019.11.2.3","DOIUrl":"https://doi.org/10.14718/REVFINANZPOLITECON.2019.11.2.3","url":null,"abstract":"En este artículo se utilizan modelos dinámicos con datos de panel para estudiar los determinantes del balance comercial bilateral de México con 39 socios comerciales en el periodo 1990-2016. La literatura señala al ingreso y al tipo de cambio real como las variables independientes clave. Asimismo, se incluye la composición de las exportaciones como variable explicativa (algo ignorado previamente). Los resultados difieren de otras investigaciones: no se encuentra evidencia robusta sobre el efecto del ingreso, hay evidencia de la importancia del tipo de cambio real y se encuentra un nexo positivo, aunque débil, con las exportaciones consistentes de bienes de alta tecnología, lo cual explica parcialmente el persistente déficit comercial de México.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133296886","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Efectos de las tarjetas de crédito en la estructura de consumo y la desigualdad de los hogares mexicanos","authors":"Owen Eli Ceballos Mina, Luis Enrique Santiago Ayala","doi":"10.14718/rfype.2019.11.2.2262","DOIUrl":"https://doi.org/10.14718/rfype.2019.11.2.2262","url":null,"abstract":"En este artículo se analizan los efectos de la tenencia de tarjeta de crédito (TC) sobre la estructura y la distribución del gasto de las familias mexicanas en el 2016. Para ello, se usan regresiones cuantílicas en dos etapas para estimar modelos de los determinantes del consumo y se instrumenta el efecto de las TC por categoría de gasto. Se evidencia así que estas tienen un efecto positivo sobre el consumo agregado, guiado principalmente por el aumento del gasto en salud y rubros menos básicos como vestido, comunicaciones y esparcimiento. A su vez, se encontró que no tienen efectos significativos sobre los gastos en educación y bienes durables. Los efectos de las TC son mayores en la parte alta de la distribución de consumo, por lo que pueden cuestionarse dichos efectos sobre la reducción de la desigualdad y el bienestar futuro de las familias, dadas las condiciones del proceso de inclusión financiera en el país.","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129641701","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Urban solid waste management in Latin America: An analysis from the perspective of waste generation","authors":"M. Sánchez-Muñoz, José Gabriel Cruz-Cerón, Paula Carolina Maldonado-Espinel","doi":"10.14718/REVFINANZPOLITECON.2019.11.2.6","DOIUrl":"https://doi.org/10.14718/REVFINANZPOLITECON.2019.11.2.6","url":null,"abstract":"La adecuada gestión de los residuos sólidos es agenda de trabajo para el desarrollo sostenible. América Latina ha adoptado políticas y promulgado normatividad que han llevado a la prohibición de botaderos a cielo abierto, la incorporación de los recicladores al proceso de gestión y el intento de reducir la cantidad de residuos generados. En este artículo se analiza la correlación entre la generación de residuos sólidos urbanos y algunas variables en nueve ciudades de la región, entre el 2007 y el 2014, utilizando estadísticas oficiales de cada país. Se encuentra que el ingreso por habitante y la tasa de cobertura escolar se correlacionan significativamente. Se concluye la importancia de generar conciencia en los ciudadanos respecto a su papel en la reducción de residuos sólidos generados. Palabras clave: desarrollo sostenible, educación ambiental, residuos sólidos urbanos, territorio. JEL Classification: Q01, Q53, Q58","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124053673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A modo de invitación: una apuesta por resignificar el desarrollo en Latinoamérica","authors":"Verel Elvira Monroy Flores","doi":"10.14718/revfinanzpolitecon.2019.11.1.1","DOIUrl":"https://doi.org/10.14718/revfinanzpolitecon.2019.11.1.1","url":null,"abstract":"Today, given the prevalence of problems such as poverty, environmental deterioration, the violation of rights, violence, among others, Latin America highlights the urgency of restoring debates about development and proposing alternatives to this that would allow a better life. During the 20th century and the first decades of the 21st century, the region has faced a series of economic problems resulting from colonialism and imperialism, in addition to political and social instability in every country of the continent. All this has imprinted the seal of underdeveloped on the region; as a response to this situation, a series of ad hoc theoretical proposals have arisen to suggest alternatives and solutions to particular problems","PeriodicalId":377256,"journal":{"name":"Revista Finanzas y Política Económica","volume":"99 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127106341","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}