Revista Finanzas y Política Económica

Entrepreneurship and Social Innovation from an Associative Perspective: A Bibliometric Review

2024-05-01T21:41:45-05:00

This paper aims to conduct a bibliometric analysis of the relationship between entrepreneurship and social innovation. A literature review is carried out using the Scopus database, followed by analysis with the Bibliometrix software. The results show an increase in scientific production, as well as a greater number of publications and collaborations between the United States and Europe. Additionally, a wide range of theoretical perspectives is used, indicating the individual development of entrepreneurship and social innovation.
The conclusions highlight the need to integrate research in these two fields of study, as the breadth of references hinders theoretical progress and maturity. Future research lines are proposed to strengthen innovation management.

Impact of Artificial Intelligence on Production, Productivity, and Increasing Inequality in Latin America

2025-02-06T08:21:31-05:00

The impact of artificial intelligence (AI) in Latin America is a highly relevant topic, especially because of its implications for economic growth, increased productivity, and economic inequality. As the fourth industrial revolution progresses, AI is being integrated into various sectors of the public and private economies, presenting both opportunities and challenges that will shape the region's economic future.
AI has the potential to radically transform productivity in Latin America. According to a study by the Inter-American Development Bank (IDB), estimates of job loss risk due to automation range from 10 % to 65 %, depending on the country.

Transmission Between the Prices of ADRs and Colombian Stocks Listed on the Stock Exchange: a VAR-X and VEC-X Analysis

2024-02-26T15:10:41-05:00

American Deposit Receipts (ADRs) are tools that have enabled companies to embark on internationalization processes through the issuance of shares targeted at investors in the U.S. market. Building on this premise, this research contributes to the characterization of ADRs and the Colombian market by identifying the nature of the relationship between the price of these assets through the estimation of VAR-X and VEC-X models and the impulse-response function analysis, an approach that has not yet been addressed in the local literature. The analysis period is specific to each security and, in general, spans from the initial listing of the ADR to the latest available date. Among the key findings is that ADR prices tend to “move” first and influence the price of shares in the local market within a timeframe of one to four months. This suggests that once companies are listed in the U.S. market, foreign investors dominate the movements of the security at the local level.

Insurance Consumption in Spanish Small Businesses: The Role of Financial Literacy of the Business Owner

2024-05-11T07:03:40-05:00

Micro and small enterprises (MSEs) play a key role in
job creation, innovation, and economic growth. However, they are also the businesses with the least resilience to adverse situations and face greater difficulties in accessing insurance policies. The aim of this article is to analyze whether the financial literacy (FL) of the business owner or manager is associated with the consumption of insurance by the business. This article uses a quantitative methodology based on a sample of over 1,100 Spanish MSEs, obtained from the first edition of the Survey on Financial Competencies in Small Businesses, conducted in 2021. In particular, binary and ordered probit estimations are applied, revealing a positive relationship between the financially savvy behaviors of the business owner and the use of business insurance.

The Effect of Corporate Taxes on Ecuador's Foreign Direct Investment Flows

2024-02-18T13:54:14-05:00

Foreign direct investment (FDI) plays a crucial role in the economic development of a country by attracting capital, technology, and knowledge. The scientific literature has revealed that tax reduction agreements are related to increases in FDI volumes. In this context, the aim of this research is to determine the effect of corporate taxes on FDI flows in Ecuador during the period 2000-2023. The methodology adopted is quantitative, based on a non-experimental longitudinal design with a descriptive and explanatory scope. The data were obtained from the World Bank and analyzed using a multiple linear regression model with the ordinary least squares method. The results reveal that the total tax rate, trade openness, inflation rate, and household final consumption are key factors in attracting FDI to Ecuador. These findings provide valuable guidance for the formulation of economic policies aimed at promoting this investment in the country.

Non-Interest Income and Credit Risk: The Case of Colombian Banking

2024-05-15T00:17:31-05:00

This study aims to analyze how non-interest income impacts banking risk in the case of the Colombian economy. To this end, a panel data for the period 2016-2022 was constructed, covering 29 credit institutions. The results show that the increase in global non-traditional income does not increase either bankruptcy probabilities or credit risk. However, when analyzing income by type, it is found that increases in foreign exchange and commission-based income can indeed increase banking risk. Therefore, the suggestion is to improve regulation of non-traditional income due to its rapid growth and the potential to generate macro-financial instability.

The Impact of Audiovisual Content on Bitcoin’s Transaction Volume and Price

2024-05-14T12:41:20-05:00

This article examines the impact of audiovisual content on Bitcoin’s price and transaction volume, a topic with limited exploration in financial literature. Using correlational and econometric analyses, it investigates audience data from films, series, and documentaries about Bitcoin, alongside public interest metrics from YouTube and Twitch. The results show weak correlations (<0.2) between search levels of most titles and Bitcoin’s financial variables. However, on YouTube, an increase in subscribers to cryptocurrency related channels has positively and significantly affected Bitcoin’s price and transaction volume. These findings highlight the influence of content creators on cryptocurrency adoption and investment, offering a framework for future research on the impact of audiovisual media on financial markets.

Financial Inclusion and Gender Gap: An Analysis for Latin America and the Caribbean during the Period 2011-2021

2024-05-28T09:17:48-05:00

This article analyzes the gender gap in Financial Inclusion (FI) in Latin America and the Caribbean (LAC) between 2011 and 2021, based on a literature review and the estimation of logistic models using Global Findex data for LAC. The results show a negative association between FI and gender when controlling for other variables (such as age, education, income level, country, and year). Specifically, women are less likely to access and use formal financial products, suggesting that gender social norms reinforce both supply and demand-side barriers to women’s FI. Additionally, it is observed that financial digitalization plays a key role in increasing FI in the region; however, this digitalization appears to have a more pronounced impact on women’s ownership of financial accounts, as well as on their ownership and usage of debit cards.

The administrative and fiscal management of the telegraphic system in the State of Santander, 1865-1910

2024-03-23T12:36:22-05:00

In the context of institutional history, and with a quantitative and descriptive approach, this article examines the telegraph system in the State of Santander between 1865 and 1910 through the analysis of profitability levels, the tariff andfranchise system, the organization of offices and employees, and the provision of facilities. Given the difficulties of the national treasury, which funded this communication system, the economic and logistical support of the Santander sectional government was highly useful. Additionally, as an alternative, there was a relatively successful involvement of the private sector through the administrative contracts for the construction and maintenance of the networks. Despite being a branch that showed deficit figures, the national government still undertook the investment required to maintain this service, as it was a strategic public good for political control at the provincial level, as well as a guarantee of social connectivity and economic development. This goal was achieved in the State of Santander, where, despite political interference and civil wars, there was a sustained expansion of the telegraph networks and offices, making it a key link between the interior and the Caribbean coast. This study was carried out using primary sources such as official reports, regulatory compilations and industry journals as well as secondary sources with studies on this sector.