Revista CEPAL no.110

Recopilación de series históricas del producto bruto jujeño (1970/2011)

El objetivo de este trabajo es la actualización del producto bruto (PB) jujeño entre los años 2007 y 2011. Para la sociedad jujeña y, en particular, para el sector público, esta información resulta vital para el conocimiento de la economía y la elaboración de políticas. Asimismo, se realizó un esfuerzo inmenso de recopilación de series históricas vinculadas al PB de la provincia y se confeccionó una serie de tiempo larga entre los años 1970 y 2011. Toda la información está desagregada a nivel sectorial según la clasificación de grandes categorías económicas (CIIU-Revisión 2) para todo el perío…

La economía agro-industrial de Jujuy: desde el azúcar al bioetanol

El objetivo de este trabajo es analizar el impacto económico de la empresa Ledesma S.A.A.I. en la economía jujeña durante el período 2008/2011, a través de la recopilación, análisis e interpretación de diferentes variables macroeconómicas vinculadas a la provincia. En ese sentido, se cuantifica su influencia en la producción de bienes y servicios, en el empleo y los salarios locales y también su incidencia en la recaudación, inversión y exportaciones. Asimismo, se analiza la evolución y desarrollo del bioetanol elaborado a partir de la caña de azúcar como insumo básico y cuyo desarrollo se enc…

Terms of trade and output fluctuations in Colombia

This paper explores the impact of the terms of trade on output fluctuations in Colombia, a developing country where as much as 62% of export earnings come from just four commodities: oil (42%), coal (14%), coffee (5%), and nickel (1%). This research was prompted by: the particular role of short-run fluctuations in developing economies, the fact that the Colombian terms of trade are procyclical, and the discussion on economic policies towards sterilization of the effects of commodity prices. Following time series analysis for the period 1994 -2011, robust evidence was found indicating that arou…

Colombia: términos de intercambio y fluctuaciones de la producción

En este artículo se explora la incidencia de los términos de intercambio en las fluctuaciones de la producción en Colombia, un país en desarrollo cuyos ingresos por exportaciones proceden mayoritariamente (en un 62%) de solo cuatro productos básicos: el petróleo (42%), el carbón (14%), el café (5%) y el níquel (1%). Esta investigación fue motivada por el papel especial que desempeñan las fluctuaciones de corto plazo en las economías en desarrollo, por el hecho de que los términos de intercambio de Colombia sean procíclicos y por la discusión acerca de las políticas económicas orientadas a este…

Determinants of ownership concentration in the Chilean stock market

This paper analyses econometrically the determinants of ownership concentration in the Chilean stock market, paying particular attention to the effects of the Public Tender Offer Act (Ley de Ofertas Públicas de Adquisición de Acciones). Although the Public Tender Offer Act achieves its central purpose, the tender offer mechanism increases the concentration of ownership, mainly because of the residual tender offer obligation for which the Act provides. In addition, the study has found significant opposite responses between the controlling shareholder and the next two largest shareho…

Determinantes de la concentración de la propiedad en el mercado de valores chileno

En este artículo se analizan econométricamente los determinantes de la concentración de la propiedad en el mercado de valores chileno, con especial atención en los efectos de la Ley de Ofertas Públicas de Adquisición de Acciones. Si bien esta ley cumple su objetivo central, el mecanismo de oferta pública de adquisición aumenta la concentración de la propiedad, principalmente debido a la figura de la oferta pública de adquisición residual obligatoria. Además, se encontraron casos significativos de respuestas contradictorias entre el accionista mayoritario y los dos mayores accionist…

Social mobility and the demand for income redistribution in Latin America

Alesina and Angeletos (2005) and Alesina and Glaeser (2004) argue that income redistribution preferences vary systematically between the different regions and influence the size of government and the composition of public spending. This article analyses the demand for redistribution in Latin America, paying particular attention to the effects of mobility expectations on this demand. The findings suggest that demand for redistribution is driven primarily by self-interest and by considerations of fairness based on the inequality of opportunities. They also reveal the importance of past mobility,…

Structural constraints and determinants of economic growth in Cuba

This study attempts to analyse the growth of Cuba's production sector and to identify the main determinants and constraints that existed during a period when tighter restrictions on trade and financial activity forced the country to reorient its economic model and its position in the world economy. This analysis includes an exploration of the institutional dimension of the gross domestic product (GDP). The model, variables and methodology used for this purpose have all been adapted to the particular features and specificities of the Cuban economy.…

Argentina: recent dynamics in the software and IT services industry

This article examines the impact of organizational and absorptive capacities and networking on the performance of Argentine software and IT services firms, within an evolutionary theoretical framework. The models estimated show that innovation outcomes depend on quality management, the existence of research and development (R&D) staff and on occupying intermediate positions in the network architecture. Firms' economic performance cannot be assessed using a single set of indicators: whereas productivity is explained by the qualifications of human resources and employment growth by R&am…

Argentina: dinámica reciente del sector de software y servicios informáticos

Bajo un marco teórico evolucionista, se estudia la repercusión de las capacidades organizacionales y de absorción y de las vinculaciones en el desempeño de firmas argentinas de software y servicios informáticos. Los modelos estimados denotan que los resultados de innovación dependen de la gestión de calidad, de la existencia de equipos de investigación y desarrollo (I+D) y de posiciones intermedias en la red de vinculaciones. El desempeño económico no puede abordarse sobre la base de un mismo conjunto de indicadores. Mientras que la productividad se explica por la calificación de los recursos …

An assessment of green export opportunities for Barbados

Transitioning towards a green economy -one that focuses on reducing environmental risks and resource scarcities, while also improving well-being- has been put forward as one possible path towards sustainable development. While the potential advantages of pursuing a green development path are clear, moving forward on the green agenda requires guaranteed support for emerging businesses and industries. Consequently, the policy agenda will have to be tailored to these new green business areas. This study assesses various green businesses and their potential suitability for the small island State o…

Chile: subsidies, credit and housing deficit

This article has two objectives: to analyse the effects of the housing subsidy on access to credit and on real-estate investment; and to study the influence of those relations in the Chilean experience. Following a review of the financing and subsidy systems in Chile, a theoretical model is put forward to analyse the effect of subsidies on housing credit and on the equilibrium of the real-estate market. The model offers new perspectives on the role played by subsidies policy and the structure on which the empirical research is based. The econometric analysis corroborates the two main theoretic…

The international trade position of Argentina. Towards a process of export diversification?

This study analyses how far the strong expansion of Argentine exports since 2003 has been due simply to favourable external conditions and how industrial manufactures have behaved. It finds that the country's pattern of international specialization has not greatly altered at the major category level, but that both primary products and manufactures of agricultural origin, which account for much of the trade surplus, have undergone significant changes in composition. In addition, regional trade has consolidated and traditional partners such as the European Union and the United States have b…

NAFTA's uninvited guest: China and the disintegration of North American trade

This paper examines the extent to which China's entry into the World Trade Organization (WTO) in 2001 and subsequent surge in global exports affected the composition of trade between the United States and Mexico through 2009. The authors found that China's entry had a significant impact on the trade relations between these two North American countries, replacing and displacing many of the export strongholds in place before China joined the WTO and after the first stage of the North American Free Trade Agreement (NAFTA) (1994-2000). Based on this research, the authors offer a variety …

Towards an integrative approach to sustainability: exploring potential synergies between gender and environment

In the midst of one of the worst economic crises the Western world has faced, governments are focusing on macroeconomic equilibrium and failing to address the economy-environment disconnect and the social components of development. The ecological degradation of our planet and its implications for human well-being necessitate a sustainable approach. Although some progress has been made since the United Nations Conference on Environment and Development in 1992, we have yet to adopt a development path that takes account of the way that ecosystems work or the persistent social and gender inequalit…

Economic Survey of Latin America and the Caribbean 2013: Three decades of uneven and unstable growth

The sixty-fifth edition of Economic Survey of Latin America and the Caribbean covers the two-year period 2012 2013. As in previous editions, the first part examines the recent performance of the economies of the region and the outlook for the current year. The second part discusses long-term aspects of the economic development of Latin America and the Caribbean. Country notes, which look at the economic situation of the countries of Latin America and the Caribbean during 2012 and the first half of 2013, may be viewed on the ECLAC webpage (www.eclac.org). These notes are published along with a …

Estudio Económico de América Latina y el Caribe 2013: tres décadas de crecimiento económico desigual e inestable

La presente edición del Estudio Económico de América Latina y el Caribe corresponde al bienio 2012-2013. Al igual que en ediciones previas, en la primera parte se analiza el desempeño reciente de las economías de la región y sus perspectivas para el año, y en la segunda se discuten aspectos de largo plazo del desarrollo económico de América Latina y el Caribe. En la página web de la CEPAL pueden consultarse las notas de países, donde se analiza la coyuntura económica de las economías de América Latina y del Caribe durante 2012 y el primer semestre de 2013, así como el anexo estadístico, en el …

La construcción de pactos y consensos en materia de política social: apuntes para un marco de análisis

El presente documento busca abrir una línea de investigación en torno al análisis del surgimiento de pactos y consensos en el sector de la política social, presentando una propuesta metodológica para analizar ex post casos de surgimiento de pactos y consensos en este sector en contextos democráticos, así como para evaluar ex ante las posibilidades de un pacto o consensos en contextos específicos. Asimismo, esta propuesta metodológica enmarca tres estudios de caso sobre reformas importantes a las políticas sociales en Chile, México y Uruguay que fueron objeto de un consenso, y que serán publica…

The history and challenges of Latin American development

The past, present and future of Latin American development has been the subject of numerous studies, theories and controversies. In this essay, prepared for the fiftieth anniversary of the foundation of the Latin American and Caribbean Institute for Economic and Social Planning (ILPES);, José Antonio Ocampo traces the vicissitudes, achievements and challenges of the region's development, which, as in the rest of the world, has undergone major shifts in the past five decades. Ocampo identifies the region's development challenges, and offers his thoughts on possible ways forward and on…