Investigacion Economica最新文献

Multidimensional poverty measurement in Mexico require the simultaneous occurrence of two events: firstly, to have less income than an established minimum in the space of welfare, and secondly, to have at least one gap in the space of social entitlements. The Consejo Nacional de Evaluación de la Política de Desarrollo Social (Coneval) [National Council for the Evaluation of Social Development Policy] has established, under its own theoretical position, that is not appropriate to include income and gaps in the calculation of depth measurements; as if it were spaces that operate independently. In this paper, micro-regressions are used to verify the empirical existence of significant association between both spaces, although this is presented at different levels. The results suggest, also, to omit the variable associated with health services in order to achieve a better vision of the relationship between the gaps in social entitlements and income.

The aim of this article is to argue that for the economics to be fully settled as a science, and not simply as an art based on intuition, it has to follow certain scientific principles. The article contributes to the debate on the matter, specifically on two methodological aspects: 1) the proper analysis of data to confirm the hypothesis of a research, and 2) the replication of scientific findings in order to evaluate them. The first aspect, based on Haavelmo's monograph of 1944 entitled “The probabilistic approach to econometrics”, implies that economists should make sure that the probabilistic assumptions of the statistical models used in their research are met. The second aspect suggests that the replications are a means to show the fragility (arose by errors of mishandling databases or inadequate specification of statistical models), or the strength (arose from the robustness of the results from changes in time period, the economy under analysis, the specification of the variables, the estimation methods, etc.) of the results reported in a published research. The article contributes with an illustration of our own methodological proposal: it is a replication of an article by Kakkar (2001), entitled “Long run actual exchange rates: Evidence from Mexico”, published in the journal Economics Letters.

Research on the relationship between financial markets and economic growth has focused on finding their causal influence and long-term relationship with inconclusive results. The typical tools used for these purposes assume a bivariate Gaussian normal distribution, hence elements such as asymmetric dependence is not captured. The present work used the conditional bivariate copula-tgarch tool to determine the conditional dependence between the monthly returns of the Mexican stock exchange price index (ipc) and the index measuring the overall growth of economic activity (igae) for the January 1993 to June 2015 period. Our results suggest a dependence relationship that varies with time; it is higher in near crisis periods and weakens afterwards.

We propose the use of a dual approach for modelling the saturation levels in the automobile market. We combine macro data coming from a pool of observations corresponding to the vehicle fleet and per capita income in a broad set of countries, with micro data coming from the Survey of Household Finances, elaborated by the Banco de España (Bank of Spain) for the Spanish case. This double approach estimation allows taking advantage of both types of data, so that the results can be complemented for a more detailed understanding of the automobile market. Macro data capture the dynamics inherent to the process of diffusion in the automobile market as income per capita rises. Micro data are not affected by socio-institutional disparities at the country level and, at the same time, offer a much more detailed level of information in terms of vehicle owner characteristics.

This paper examines the impact of electronic payment systems of high and low value on money demand. To do this, the research departs from the theoretical framework of a model of overlapping generations that explains how electronic payment systems affects money demand and how the authority can impact on the payment systems to ensure their stability and efficiency. Subsequently, the methodologies of cointegration and error correction are applied to determine the existence of an equilibrium between electronic payments and money demand.

Recent economic growth has played in settings marked labor relations, especially in scenarios of late capitalism. The disruption in the Brazilian labor market was the result of the offensive of capital over labor, in a context of economic growth with unemployment and high turnover rates. Therefore, this article aims to analyze the turnover of the industrial labor market in the Northeast. This scenario is strongly characterized by the national restructuring process, especially as a receiver of economic activity/work intensive. Methodologically, it resorts to a literature review and empirical methods are added to the construction of indicators of turnover. The time frame covers the years 2001 and 2010, with the data source to the Annual Social Information and the General Register of Employed and Unemployed of the Ministry of Labor and Employment. The main results show that there are high rates of unfair dismissal, and a high proportion of workers who leave their jobs in less than a year. In addition, turnover is more pronounced in construction and agriculture. However, when the selection is made for the sectors of manufacturing industry, mechanical industry, footwear and food industries have high rates of turnover, compared with the other. Regarding the turnover rate according to demographic and socioeconomic characteristics, it is more pronounced for the male labor force, the very young and the young, less educated and in jobs with earnings of up to one minimum wage.

There are a vast number of studies on the relationship between R&D and exports. However, the results are not always clear-cut. This study evaluates whether, in the case of a small, open and peripheral country in which exports are the engine of economic growth despite a noticeable laggardness in terms of R&D, the firms’ R&D impacts on and/or is influenced by their exports, as well as whether the interrelation between R&D and exports impacts on the performance of firms. Using an unique dataset comprising all (more than 340 thousands) non-financial companies based in Portugal, over the period 2006-2012, estimations based on bivariate probit models, which provide the simultaneous estimation of the two decisions (R&D and exports), taking into account the correlation between the estimation errors of the equations for R&D and exports, confirm there is complementarity between R&D and exports, which means that engaging in R&D activities will increase the firm's probability of engaging in export activities. Additionally, engaging in export activities will also increase the probability of engaging in R&D. The results also provide support for the hypothesis that more productive firms self-select into exporting activities and also provide support for the learning-by-exporting hypothesis. Finally, based on a panel model we further found that R&D and exports have a positive effect on sales growth, which is enhanced when both activities occur simultaneously.

Innovation remains a complex phenomenon and the task of managing it at the Regional Innovation Systems (RIS) architecture level is discussed herein, namely involving joint initiatives, close to organizational realities and their competitive advantages, up and beyond the uncertainty that surrounds Governmental R&D Investment (GRI) effectiveness, either due to misuse or ineffective, application of resources. Artificial Neural Networks (ANN) modelling was applied to the study of RIS structure, aiming to identify the ‘hidden’ mediating variables that may influence the overall effect of GRI on economic and employment growth. In general, Absorptive Capacity, is the most rapid and balanced development strategy for regions characterised by environments, which are adverse to change and innovation, and characterized by low industrialization and income levels.

A characterization of the journal Investigación Económica (Economic Research) is performed as a result of a bibliometric analysis, where the universe of study is composed by its publications available in redalyc.org (199 scientific papers of the period 2005-2014). In addition, the analysis includes indicators (based on production, collaboration and usage; also proposed by that database) that conform an alternative and complementary way to analyze written science. The conclusion shows that this journal is a reference to internationalization and visibility in economics, given the strong presence of foreign publications, whose performance drives two effects: the increased collaboration among researchers and the international papers download. However, this effort should result in citations to the journal, where there is a pending issue and diverse areas of opportunity and strengthening.