Revista de economía mundial -- V. 58., (2021)
Permanent URI for this collectionhttps://hdl.handle.net/10272/20029
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Item type: Item , Reseña del libro de Díaz Roldán, C.; Pérez Ortiz, L. y Da Silva Bichara, J. (eds.), "Economic Policies for Development: Beyond the Millenium Goals". Ed. Nova Science Editors, Nueva York(Universidad de Huelva, 2021) Merino de Lucas, FernandoItem type: Item , Pandemics and Globalisation: Parallel Paths Throughout History(Universidad de Huelva, 2021) Carmona González, Nieves; Sánchez Martín, María PilarIn this work we offer a historical overview of the pandemics which have troubled humanity over the course of centuries and their economic impact. All of these pandemics share a direct relation to international trade and globalisation. Our aim is to provide a historical reference of previous pandemics and their direct connection to the phenomenon of globalisationItem type: Item , Oil Trade Rents and International Income Inequality(Universidad de Huelva, 2021) Garzón Gordón, Antonio José; Hierro Recio, Luis Ángel; Apergis, NicholasThis paper investigates the role of oil rents as implicit transfers that redistribute global income through international trade channels. It involves estimating these rents, calculating the redistributive effect, exploring the role of exports and imports and the different impact depending on income per capita. The results document that (i) implicit international oil trade rents lead to a positive but declining reduction in international income inequality, although it becomes regressive after 2001 using PPP income estimates; (ii) redistribution is basically generated via exports, with imports playing a minor role; and (iii) international oil rents have a greater impact on the countries in the lowest deciles. The novelty of this work is that, for the first time, the international redistributive effect of oil rents is studied, by introducing the concept of implicit transfers in international trade, which opens up new fields of research in the area of global income inequalityItem type: Item , Fundamentos institucionales del crecimiento dirigido por la demanda: una nueva agenda de investigación(Universidad de Huelva, 2021) Cárdenas del Rey, Luis; Herrero Alba, Daniel; Rial Quiroga, AdriánEste trabajo presenta una introducción a la teoría de los modelos de crecimiento dirigidos por la demanda dentro del campo de la economía política comparada (EPC). Primero, se ofrece un esquema analítico con las características fundamentales de esta nueva agenda de investigación planteada por Baccaro y Pontusson (2016), como son la tipología de modelos y las variables principales que los determinan. En segundo lugar, se profundiza en la relación existente con los regímenes de demanda (wageled/profit-led) y se propone un enfoque basado en el comportamiento de la inversión como determinante de los modelos de crecimiento. Finalmente, se aplica empíricamente este enfoque a cinco economías europeas del periodo 1995-2018. La principal conclusión es que la agenda de investigación de los modelos de crecimiento tiene el potencial para renovar tanto los estudios de EPC como los de regímenes de demanda, así como aportar una interpretación más profunda de la evolución reciente de las economías europeasItem type: Item , Child Labor and the Role of the School(Universidad de Huelva, 2021) Azqueta Oyarzún, Diego; Gavaldón Hernández, Guillermina; Sotelsek Salem, DanielCovid-19 will aggravate the problem of child labor. The traditional policy to fight this problem has relied heavily on the role of the school. Empirical evidence shows that the benefits of basic education for poor families are very high. Yet, these high returns may be a statistical illusion when social and economic inequality prevail. In this case, while fighting inequality and enhancing social mobility, the emphasis should be put on the role of the school as provider of goods and services: on maintaining Conditional Cash Transfer programs. This is the more urgent when episodes like the Covid-19 pandemic force temporary school closuresItem type: Item , Real Interest Rate and Exchange Rate Divergences within the EZ12: Evidence Based at Mean Group Estimators(Universidad de Huelva, 2021) Glavaški, Olgica; Beker Pucar, EmilijaSince nominal interest rate and nominal exchange rate are common for the Euro-zone (EZ) members, inflation differentials initiate real interest rate and real exchange rate divergences with further spill-over effects. The aim of the research is to investigate in which extent national price level, real interest rate and real exchange rate, co-move or diverge from supranational EZ variables. The research results, based on heterogeneous dynamic macro-panel data of 12 initial EZ members in the period 1999Q1-2019Q4, confirm heterogeneous adjustment, as well as the lack of balancing towards equilibrium, as a sign of EZ vulnerabilityItem type: Item , Rentabilidad del capital en el centro y la periferia de la Eurozona. Un análisis comparativo(Universidad de Huelva, 2021) Mateo Tomé, Juan Pablo; Boundi Chraki, FahdEsta investigación aborda una temática apenas estudiada en la literatura sobre la eurozona: un estudio comparativo de la rentabilidad del capital en una muestra representativa de las economías más avanzadas y de la periferia. A partir de un enfoque de economía política, se muestran cálculos de la tasa de beneficio y el volumen de excedente, así como de la productividad (laboral) de excedente, el empleo y el proceso de acumulación de capital. El estudio revela una asimetría entre el centro y la periferia en cuanto a la rentabilidad, junto a un problema subyacente de rentabilidad. Además, se constata un profundo cambio a partir de la Gran Recesión, aunque por el momento no se materializa en ninguna tendencia hacia la convergencia productiva entre el centro y la periferiaItem type: Item , On the Vulnerability of Economies to Covid-19: An Empirical Approach(Universidad de Huelva, 2021) Díaz Roldán, Carmen; Pérez de la Cruz, José María; Ramos Herrera, María CarmenDuring the confinement due to the Covid-19 crisis, economies survived thanks to the available technology and changes of the production model. To study the vulnerability of economies against the challenges of the recovery, in this paper we study the role of some factors related to the development of productive sectors, the use of technology, and the structure of public finances. Using panel data estimations for the European Union, we identify some characteristics that would help economies to boost economic growth. We find that the employment in sectors with a high technological content is the variable that most drives output growthItem type: Item , Efecto de la incertidumbre de política económica en los mercados bursátiles europeos(Universidad de Huelva, 2021) Paule Vianez, Jessica; Prado Román, Camilo; Gómez Martínez, RaúlEste estudio evalúa el efecto de la Incertidumbre de Política Económica (IPE) en la rentabilidad, volatilidad y liquidez de los mercados bursátiles europeos. Aplicando datos de panel sobre una muestra de países europeos para el periodo 09-2011 a 07-2020 se encuentra que IPE reduce la rentabilidad e incrementa la volatilidad de los mercados bursátiles europeos, no encontrándose resultados concluyentes respecto a la liquidez. Estos resultados ponen de manifiesto la importancia y necesidad de un mayor control por parte de los formuladores de políticas económicas sobre la transparencia y la estabilidad de sus decisionesItem type: Item , Corporate Governance and MENA Banks´ Performance(Universidad de Huelva, 2021) Otero González, Luis; Durán Santomil, Pablo; Alaraj, RafatWe analyze the effect of corporate governance on banks’ performance in the MENA countries using an index comprised of seven widely used governance measures, as a measure of firm-level corporate governance. In addition, we have also considered country governance as an important determinant of performance. The data at the firm level has been obtained from the Bankscope Database and we also hand-collect the corporate governance data from the annual reports over the period 2005-2012, covering the period of the financial crisis. At the country level we obtain the data from different sources. Our paper shows that corporate governance is relevant explaining performance in a way consistent with the segmentation of the corporate governance at both country level and bank level. It highlights the need for internal governance mechanisms but also the importance of country governance in emerging markets. The best governance at the country level has a positive effect under favorable conditions but not in crisis situationsItem type: Item , Comparative Re-Estimation of Environmental Degradation and Population Density in China: Evidence from the Maki’s Regime Shift Approach(Universidad de Huelva, 2021) Hussain, Muzzammil; Mahmood, Nasir; Chen, Fuzhong; Khan, Zeeshan; Usman, MuhammadNumerous studies have estimated the linkage of economic growth and environmental degradation in the framework of EKC theory with typical CO2 emissions proxy. However, the complexity of environmental degradation (ED) is better measured by ecological footprint (ECF) in any geographical territory. Against this background, the present study is an effort to contribute to the existing literature by re-investigating the EKC hypothesis with ecological footprint and CO2 emissions proxy in the largest population of the world. Moreover, the role of population density is also considered with maximum data available from 1961 to 2016 for China. To estimate the said linkage, we apply first, second, and third-generation econometric approaches i. e. Augmented Dickey-Fuller unit root test, Zaviot Andrew’s unit root test with structural breaks, and Carrion-i-Silvestre’s general least-squares based test with several structural breaks. Likewise, the co-integration relationship is examined by applying Maki’s co-integration econometric approach with multiple structural breaks. Furthermore, the autoregressive distributive lag model is applied to investigate the long-run and short-run relationships by incorporating year dummies highlighted by MBk. The results report the U-shaped EKC for China, which means economic growth is helping to clean the environment while the population density (PD) is found to be a cause of increasing ED. Findings have robust policy implications for China