Cotton manufacturers as bankers: the textile trade and credit in spain, 1840-1913

[cat] La historiografia ha assenyalat que en el segle XIX el crèdit que els fabricants cotoners catalans oferien als seus clients era de caràcter informal i, per tant, impossible de ser transferit al sistema bancari. Això hauria tingut un efecte negatiu en la rendibilitat de les empreses cotoneres. A partir de l’anàlisi de diversos arxius empresarials, així com de fonts judicials i notarials, aquest treball confirma aquesta descripció dels fets però proposa una interpretació més optimista. Els fabricants feien de banquers dels seus clients perquè eren els millor situats per a exercir aquesta funció. Havien construït una bona estructura d’informació, gestionaven eficientment el risc creditici i obtenien beneficis d’aquesta activitat.

European integration, FDI and the internal geography of trade : evidence from Western European border regions

In this paper we use a gravity model to study the trade performance of French and Spanishborder regions relatively to non-border regions, over the past two decades. We find that,controlling for their size, proximity and location characteristics, border regions trade onaverage between 62% and 193% more with their neighbouring country than other regions,and twice as much if they are endowed with good cross border transport infrastructures.Despite European integration, however, this trade outperformance has fallen for the mostperipheral regions within the EU. We show that this trend was linked in part to a shift in the propensity of foreign investors to move their affiliates from the regions near their home market to the regions bordering the EU core.

Financial Integration, Trade Openness and International Transmission

[cat] Com afecten l’obertura comercial i financera a la volatilitat macroeconòmica? La literatura existent, tant empírica com teòrica, no ha assolit encara un consens. Aquest article usa un model microfonamentat de dos països simètrics amb entrada endògena d’empreses per estudiar-ho. L’anàlisis es du a terme per tres règims econòmics diferents amb diferents nivells d’integració internacional: una economia tancada, una autarquia financera i una integració plena. Es consideren diversos nivells d’obertura comercial, en forma de biaix domèstic de la demanda i l’economia pot patir pertorbacions en la productivitat del treball i en innovació. El model conclou que la incertesa macroeconòmica, representada principalment per la volatilitat del consum, la producció i la relació real d’intercanvi internacional, depèn del grau d’obertura i del tipus de pertorbació.

Trade policy and regional inequalities

This paper aims to analyse the effects of trade policies in the pattern of regional inequalities within a country. Inspired firstly, by the debate concerning the role of protectionist policies in the settlement of a pattern of striking regional inequalities in the Spanish industrialisation process and secondly, by current evidence of an increase in these inequalities following the entry of Spain in the EU (1986), we set a model that shows that trade liberalisation increases regional inequalities.

Roman amphora trade across the Straits of Gibraltar: An ancient 'anti-economic practice'?

Summary. Olive oil and fish products from the south of Hispania and North Africa played an important role in the Roman economy. The authors call attention to the asymmetrical distribution of archaeological data available on this subject, in particular the location of amphora kilns, and try to give an explanation, based on the evolution of European archaeology in the twentieth century.

Deep crustal electromagnetic structure of Bhuj earthquake region (India) and its implications

The existence of fluids and partial melt in the lower crust of the seismically active Kutch rift basin (on the western continental margin of India) owing to underplating has been proposed in previous geological and geophysical studies. This hypothesis is examined using magnetotelluric (MT) data acquired at 23 stations along two profiles across Kutch Mainland Uplift and Wagad Uplift. A detailed upper crustal structure is also presented using twodimensional inversion of MT data in the Bhuj earthquake (2001) area. The prominent boundaries of reflection in the upper crust at 5, 10 and 20 km obtained in previous seismic reflection profiles correlate with conductive structures in our models. The MT study reveals 1-2 km thick Mesozoic sediments under the Deccan trap cover. The Deccan trap thickness in this region varies from a few meters to 1.5 km. The basement is shallow on the northern side compared to the south and is in good agreement with geological models as well as drilling information. The models for these profiles indicate that the thickness of sediments would further increase southwards into the Gulf of Kutch. Significant findings of the present study indicate 1) the hypocentre region of the earthquake is devoid of fluids, 2) absence of melt (that is emplaced during rifting as suggested from the passive seismological studies) in the lower crust and 3) a low resistive zone in the depth range of 5-20 km. The present MT study rules out fluidsand melt (magma) as the causative factors that triggered the Bhuj earthquake. The estimated porosity value of 0.02% will explain 100-500 ohm·m resistivity values observed in the lower crust. Based on the seismic velocities and geochemical studies, presence of garnet is inferred. The lower crust consists of basalts - probably generated by partial melting of metasomatised garnet peridotite at deeper depths in the lithosphere - and their composition might be modified by reaction with the spinel peridotites.

Traducción comentada de Guidelines Governing the Adoption of Children, 2011 in India

En este trabajo se analiza la variación discursiva y los diferentes criterios de estilo entre textos jurídicos normativos en inglés y español; se establecen fenómenos lingüísticos propios del discurso jurídico que generan problemas de traducción; y se comparan algunas diferencias entre sistemas jurídicos y políticos para analizar su repercusión en la traducción.

Assessing farmers' vulnerability to climate change : a case study in Karnataka, India

In the context of observed climate change impacts and their effect on agriculture and crop production, this study intends to assess the vulnerability of rural livelihoods through a study case in Karnataka, India. The social approach of climate change vulnerability in this study case includes defining and exploring factors that determine farmers’ vulnerability in four villages. Key informant interviews, farmer workshops and structured household interviews were used for data collection. To analyse the data, we adapted and applied three vulnerability indices: Livelihood Vulnerability Index (LVI), LVI-IPCC and the Livelihood Effect Index (LEI), and used descriptive statistical methods. The data was analysed at two scales: whole sample-level and household level. The results from applying the indices for the whole-sample level show that this community's vulnerability to climate change is moderate, whereas the household-level results show that most of the households' vulnerability is high-very high, while 15 key drivers of vulnerability were identified. Results and limitations of the study are discussed under the rural livelihoods framework, in which the indices are based, allowing a better understanding of the social behaviouraltrends, as well as an holistic and integrated view of the climate change, agriculture, and livelihoods processes shaping vulnerability. We conclude that these indices, although a straightforward method to assess vulnerability, have limitations that could account for inaccuracies and inability to be standardised for benchmarking, therefore we stress the need for further research.

Iron mining in Goa (India) : an interdisciplinary study

En aquest article es presenten breument els diferents capítols d’un treball interdisciplinari per tal d’entendre el context de prohibició de la mineria de ferro a Goa a finals del 2012 i proporcionar la informació necessària per tal d’orientar i gestionar la presa de decisions sobre l’activitat minera en un futur. Els sis primers capítols consisteixen en l’estudi del medi abiòtic, medi biòtic, fluxos de materials, aspectes socials, aspectes econòmics i finalment aspectes polítics. En canvi, en els dos últims capítols s'avaluen i es gestionen els impactes ambientals de la mineria mitjançant, per una banda, una anàlisi DPSIR i, d'altra banda, es proposen tres escenaris per integrar les diferents variables i fomentar la participació en la presa de decisions. S’ha dut a terme una extensa recerca mitjançant la recopilació de dades, entrevistes i visites a les zones d’estudi d’interès per tal d’entendre el conflicte de la mineria a Goa.

El marmor de Tarraco. Explotació, utilització i comercialització de la pedra de Santa Tecla en època romana Tarraco marmor. The Quarrying, Use and Trade of Santa Tecla Stone in Roman Times

Aquest és el llibre més complet que hi ha sobre la pedra de Santa Tecla i el llisós, dos materials procedents de Tarragona i molt utilitzats en època romana. Els autors, arqueòlegs i geòlegs, caracteritzen aquestes dues varietats i presenten el panorama de les seves aplicacions, i també donen pautes per identificar-les i diferenciar-les d’altres pedres que s’hi podrien confondre, com la “portasanta” o la pedra de Buixcarró.

The global welfare impact of China: Trade integration and technological change

This paper evaluates the global welfare impact of China's trade integration and technological change in a multi-country quantitative Ricardian-Heckscher-Ohlin model.We simulate two alternative growth scenarios: a "balanced" one in which China's productivity grows at the same rate in each sector, and an "unbalanced" one in whichChina's comparative disadvantage sectors catch up disproportionately faster to theworld productivity frontier. Contrary to a well-known conjecture (Samuelson 2004),the large majority of countries experience significantly larger welfare gains whenChina's productivity growth is biased towards its comparative disadvantage sectors.This finding is driven by the inherently multilateral nature of world trade.

Optimal capital structure: a trade-off model and its empirical testing

In the present research we have set forth a new, simple, Trade-Off model that would allow us to calculate how much debt and, by default, how much equity a company should have, using easily available information and calculating the cost of debt dynamically on the basis of the effect that the capital structure of the company has on the risk of bankruptcy; in an attempt to answer this question. The proposed model has been applied to the companies that make up the Dow Jones Industrial Average (DJIA) in 2007. We have used consolidated financial data from 1996 to 2006, published by Bloomberg. We have used simplex optimization method to find the debt level that maximizes firm value. Then, we compare the estimated debt with real debt of companies using statistical nonparametric Mann-Whitney. The results indicate that 63% of companies do not show a statistically significant difference between the real and the estimated debt.

The First World War and Coal Trade Geography in Latin America and the Caribbean, 1890-1930

This paper aims to illustrate the dynamics of coal trade between Latin America and its main trade partners, i.e., the USA, Great Britain, and Germany, before and after the enormous disruption caused by the First World War. The coal trade was used as an indicator of modernization for Latin American countries, given that oil was at that time of secondary importance. Energy imports have determined the possibilities of each Latin American country in its process of development. Here, we address this question and place special emphasis on supply channels, concluding that the trade link with main suppliers was of key significance. Although this was very clear by the end of the period, the process had started well before the First World War, at least for the majority of LA&C countries. These points are developed through a gravity model applied to the bilateral coal trade. The importance of the market supplier share is addressed through cluster methodologies.

The Role of Trade in the Structural Transformations of South Korea and the United Kingdom

[cat] El comerç internacional en béns agrícoles té el potencial d'accelerar la transformació estructural dels països amb baixa productivitat agrícola perquè els dóna la possiblitat d'importar aliments. L'objectiu d'aquest article és estudiar l'importància del comerç internacional en aquest context a través dels exemples de Corea del Sud i el Regne Unit. Per fer l'anàlisi, introdueixo comerç internacional en un model de creixement neoclàssicc amb dos sectors, agricultura i no-agricultura. Una característica clau del model és la baixa elasticitat-ingrés del bé agrícola.