This study assesses the effect of Economic Policy Uncertainty (IPE) on the return, volatility and liquidity of European stock markets. Applying panel data on a sample of European countries for the period 09-2011 to 07-2020, it is found that IPE reduces returns and increases volatility in European stock markets, not finding conclusive results regarding liquidity. These results demonstrate the importance and need for greater control by economic policy makers over the transparency and stability of their decisions.
{"title":"Efecto de la incertidumbre de política económica en los mercados bursátiles europeos","authors":"Jessica Paule-Vianez, Camilo Prado-Román, Raúl Gómez-Martínez","doi":"10.33776/REM.V0I58.4875","DOIUrl":"https://doi.org/10.33776/REM.V0I58.4875","url":null,"abstract":"This study assesses the effect of Economic Policy Uncertainty (IPE) on the return, volatility and liquidity of European stock markets. Applying panel data on a sample of European countries for the period 09-2011 to 07-2020, it is found that IPE reduces returns and increases volatility in European stock markets, not finding conclusive results regarding liquidity. These results demonstrate the importance and need for greater control by economic policy makers over the transparency and stability of their decisions.","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46014604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
L. O. González, Pablo Durán-Santomil, Rafat Alaraj
We 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 situations.
{"title":"Corporate Governance and Mena Banks´ Performance","authors":"L. O. González, Pablo Durán-Santomil, Rafat Alaraj","doi":"10.33776/REM.V0I58.4693","DOIUrl":"https://doi.org/10.33776/REM.V0I58.4693","url":null,"abstract":"We 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 situations.","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49532447","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Editorial (español)","authors":"Manuela A. De Paz-Báñez","doi":"10.33776/rem.v0i58.5389","DOIUrl":"https://doi.org/10.33776/rem.v0i58.5389","url":null,"abstract":"","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42375319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Corruption as an Entry Incentive and Exit Barrier for Foreign Direct Investment (FDI)","authors":"H. Márquez, Omar Neme Castillo","doi":"10.33776/REM.V0I57.4806","DOIUrl":"https://doi.org/10.33776/REM.V0I57.4806","url":null,"abstract":"","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" 23","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72381273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Resena del libro Diaz Roldan, C., Perez Ortiz, L. y da Silva Bichara, J. eds. (2020): “Economics Policies for Development: Beyond the millenium goals”. Ed. Nova Science Editors, Nueva York (EE.UU.) ISBN 9781536171389
{"title":"\"Economic Policies for Development: Beyond the Millenium Goals\". Ed. Nova Science Editors, Nueva York (EE.UU.) ISBN 9781536171389, 2020, 304 páginas. Díaz Roldán, C.; Pérez Ortiz, L. y Da Silva Bichara, J. (eds.)","authors":"Fernando Merino de Lucas","doi":"10.33776/REM.V0I58.5175","DOIUrl":"https://doi.org/10.33776/REM.V0I58.5175","url":null,"abstract":"Resena del libro Diaz Roldan, C., Perez Ortiz, L. y da Silva Bichara, J. eds. (2020): “Economics Policies for Development: Beyond the millenium goals”. Ed. Nova Science Editors, Nueva York (EE.UU.) ISBN 9781536171389","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45508473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jorge Luis Delgado Salazar, S. R. Benito, L. Ortíz
The objective of the work is to determine the characteristics associated to urban and rural workers with informality. This quantitative and correlational research was developed from the ENEMDU survey of Ecuador, of longitudinal form from September 2014 to September 2019, where Heckprobit and Kaplan-Meier models were carried out. The results indicate that the probabilities of entering the informal sector are higher in rural areas than in urban areas, due to socioeconomic characteristics. However, the probability of remaining in the informal sector is higher in urban areas than in rural areas.
{"title":"Informalidad rural y urbana en Ecuador","authors":"Jorge Luis Delgado Salazar, S. R. Benito, L. Ortíz","doi":"10.33776/REM.V0I57.4736","DOIUrl":"https://doi.org/10.33776/REM.V0I57.4736","url":null,"abstract":"The objective of the work is to determine the characteristics associated to urban and rural workers with informality. This quantitative and correlational research was developed from the ENEMDU survey of Ecuador, of longitudinal form from September 2014 to September 2019, where Heckprobit and Kaplan-Meier models were carried out. The results indicate that the probabilities of entering the informal sector are higher in rural areas than in urban areas, due to socioeconomic characteristics. However, the probability of remaining in the informal sector is higher in urban areas than in rural areas.","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":"118 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75237354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Dentro de la UE, la crisis de 2008 provoco importantes cambios laborales en materia de genero. Una de las pautas mas importantes y llamativas ha sido la existencia de una disminucion en la segregacion laboral. En el presente articulo abordamos el estudio de la segregacion ocupacional y sectorial por genero en una seleccion de paises de la UE utilizando los datos trimestrales de la Labour Force Survey (LFS) desde el ano 2008 a 2015. A traves de multiples analisis, nuestros resultados demuestran que la segregacion laboral logra reducirse principalmente por la destruccion de empleo dentro de la construccion y la industria, sectores de elevada contratacion masculina. Por lo cual la segregacion seguiria un proceso de “levelling down”. Asimismo, tambien se ha producido un importante efecto del “Trabajador anadido” entre las mujeres que ha compensado parcialmente la caida de la segregacion. Finalmente, el perfil de la segregacion no parece modificarse durante este periodo.
{"title":"La segregación laboral en tiempos de crisis: diferencias europeas","authors":"Diego Dueñas-Fernández, Raquel Llorente-Heras","doi":"10.33776/REM.V0I57.4804","DOIUrl":"https://doi.org/10.33776/REM.V0I57.4804","url":null,"abstract":"Dentro de la UE, la crisis de 2008 provoco importantes cambios laborales en materia de genero. Una de las pautas mas importantes y llamativas ha sido la existencia de una disminucion en la segregacion laboral. En el presente articulo abordamos el estudio de la segregacion ocupacional y sectorial por genero en una seleccion de paises de la UE utilizando los datos trimestrales de la Labour Force Survey (LFS) desde el ano 2008 a 2015. A traves de multiples analisis, nuestros resultados demuestran que la segregacion laboral logra reducirse principalmente por la destruccion de empleo dentro de la construccion y la industria, sectores de elevada contratacion masculina. Por lo cual la segregacion seguiria un proceso de “levelling down”. Asimismo, tambien se ha producido un importante efecto del “Trabajador anadido” entre las mujeres que ha compensado parcialmente la caida de la segregacion. Finalmente, el perfil de la segregacion no parece modificarse durante este periodo.","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":"5 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72777526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
José Luis Medina-Bueno, J. Ros, A. Vázquez-Barquero
{"title":"La calidad institucional como factor determinante del desarrollo económico basado en los recursos naturales","authors":"José Luis Medina-Bueno, J. Ros, A. Vázquez-Barquero","doi":"10.33776/rem.v0i56.3823","DOIUrl":"https://doi.org/10.33776/rem.v0i56.3823","url":null,"abstract":"","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48163095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Editorial (inglés)","authors":"M. J. Asensio Coto","doi":"10.33776/rem.v0i56.5091","DOIUrl":"https://doi.org/10.33776/rem.v0i56.5091","url":null,"abstract":"","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49662919","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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