Pricing and spread components at the Lima Stock Exchange

This paper analyses three aspects of the share market operated by the Lima Stock Exchange: (i) the short-term relationship between the pricing, direction and volume of order flows; (ii) the components of the spread and the equilibrium point of the limit order book per share, and (iii) the pricing, order direction and trading volume dynamic resulting from shocks in the same variables when lagged. The econometric results for intraday data from 2012 show that the short-run dynamic of the most and least liquid shares in the General Index of the Lima Stock Exchange is explained by the direction of order flow, whose price impact is temporary in both cases.

Institutional elements of a new diplomacy for development: notes for a book of memoirs

Examina las caracteristicas principales de la nueva diplomacia para el desarrollo, originada a partir de la primera reunion de la UNCTAD, y su evolucion hasta la actual situacion de estancamiento derivada de la existencia de un fuerte conflicto de interes entre los paises desarrollados y en desarrollo, agravada por un conjunto de problemas institucionales. Subraya la necesidad de romper el presente estancamiento en el dialogo Norte-Sur y sugiere algunas medidas encaminadas a lograrlo.