Todos los caminos conducen al tío Sam: Análisis del actual proceso de integración en América

El proyecto de Integración Americana o Hemisférica que se concretó en la ""Reunión Cumbre de las Américas"" de Miami en 1994, inauguró una nueva etapa en la relación interamericana. A partir de este hecho se marca un hito en la historia

Problemas y consecuencias del resurgir del pragmatismo norteamericano: 1952-1976

Revisión crítica de la ‘versión heredada’ sobre el resurgir del pragmatismo norteamericano. Aquí sostengo que ésta es una narrativa sobre la historia de la filosofía que puede ser usada para “reivindicar” la continuidad o para “añorar” la pérdida de esa tradición. Presento tres argumentos a favor de mi tesis sobre la versión heredada: i) es insuficiente para explicar el surgimiento del pragmatismo; ii) es un tipo de narrativa que hace plausible una imagen de la filosofía; iii) impide apreciar que la formación del canon obedece a los propósitos de los seguidores del movimiento.

Network externalities across financial institutions

We propose and estimate a financial distress model that explicitly accounts for the interactions or spill-over effects between financial institutions, through the use of a spatial continuity matrix that is build from financial network data of inter bank transactions. Such setup of the financial distress model allows for the empirical validation of the importance of network externalities in determining financial distress, in addition to institution specific and macroeconomic covariates. The relevance of such specification is that it incorporates simultaneously micro-prudential factors (Basel 2) as well as macro-prudential and systemic factors (Basel 3) as determinants of financial distress. Results indicate network externalities are an important determinant of financial health of a financial institutions. The parameter that measures the effect of network externalities is both economically and statistical significant and its inclusion as a risk factor reduces the importance of the firm specific variables such as the size or degree of leverage of the financial institution. In addition we analyze the policy implications of the network factor model for capital requirements and deposit insurance pricing.

Natural resource windfalls and efficiency of local government expenditures: evidence from Peru

We study the role of natural resource windfalls in explaining the efficiency of public expenditures. Using a rich dataset of expenditures and public good provision for 1,836 municipalities in Peru for period 2001-2010, we estimate a non-monotonic relationship between the efficiency of public good provision and the level of natural resource transfers. Local governments that were extremely favored by the boom of mineral prices were more efficient in using fiscal windfalls whereas those benefited with modest transfers were more inefficient. These results can be explained by the increase in political competition associated with the boom. However, the fact that increases in efficiency were related to reductions in public good provision casts doubts about the beneficial effects of political competition in promoting efficiency.

Comentario Internacional: revista del Centro Andino de Estudios Internacionales. 10 (Reseñas)

Presenta las reseñas del siguiente libro: Michael Kenney, From Pablo to Osama. Trafficking and Terrorist Networks, Government Bureaucracies, and Competitive Adaptation, The Pennsylvania State University Press, United States, 2007, 248 pp.