Credit Default Swaps (CDS) y Collateral Debt Obligation (CDO) derivados financieros responsables de la crisis sub-prime de 2008 en Estados Unidos y una guía para el desarrollo del mercado de derivados exóticos en Colombia

La crisis financiera hipotecaria de 2008 en la que se declaró en quiebra el banco de inversión Lehman Brothers, se desarrolló en un ambiente que contemplaba apalancamientos financieros excesivos y el uso de derivados financieros de crédito innovadores. Razón por la cual, a partir del estudio de caso de quiebra de este banco de inversión y el análisis de las causas y consecuencias del ambiente desregulatorio que surgió en Estados Unidos desde la década de los 30 hasta el 2000, se orienta la investigación a indagar sobre lo que sucede en términos regulatorios y empresariales en el mercado de valores colombiano y así lograr definir objetivos que permitan el crecimiento del mercado de derivados exóticos en Colombia bajo un marco de responsabilidad financiera y ética empresarial.

De l’applicabilité du droit international des droits de l’homme dans l’ordre juridique interne

De nos jours, les particuliers peuvent se prévaloir, devant les autorités judiciaires nationales, du droit international des droits de l’homme d’origine conventionnelle, à condition qu’il soit admis que celui-ci est partie intégrante du droit positif national. Les conventions internationales de sauvegarde des droits fondamentaux imprègnent l’ordre juridique interne soit par le biais de compléments internes d’ordre législatif ou réglementaire (logique dualiste), soit du seul fait de leur ratification suivie de leur publication officielle (logique moniste). En l’absence d’une réglementation internationale uniforme des critères de l’applicabilité directe, la difficulté d’identifier les traités de protection des droits de l’homme directement applicables dans l’ordre interne demeure réelle, notamment dans les Etats qui adhèrent à la conception moniste de l’ordre juridique. De façon décisive, la doctrine et la jurisprudence ont consacré deux critères d’identification des clauses conventionnelles autoexécutoires (self-executing), à savoir le critère subjectif du destinataire de la norme internationale et le critère objectif du degré de normativité juridique de celle-ci. La difficulté de la tâche n’en est pas pour autant annihilée comme en atteste, dans le cadre de l’affaire Hissène Habré, la vive controverse sur le caractère prétendument self-executing de la Convention contre la torture. 

Expulsion d’etrangers et Convention européenne des droits de l’homme Le risque de mauvais traitements dans l’Etat de destinatio

El Tribunal Europeo de Derechos Humanos no impugnó nunca el derecho de los Estados de expulsar extranjeros por distintas razones en la medida en que naturalmente un Estado parte del Convenio Europeo de Derechos Humanos sigue ejerciendo su soberanía en su territorio. No obstante, este derecho debe conciliarse con la obligación de los Estados partes del Convenio Europeo de Derechos Humanos de no exponer a los extranjeros y, en general, a las personas dependientes de su jurisdicción a riesgos de violación de las disposiciones del Convenio.Procurar que ningún derecho consagrado por el Convenio se viole con motivo de una expulsión es, sin embargo, una tarea un tanto pesada de asumir, ya que eso podría terminar por invalidar el derecho soberano de los Estados a expulsar de su territorio a extranjeros. El Tribunal de Estrasburgo retiene sobre todo un único riesgo de violación: el del artículo 3º del Convenio, según el cual se prohíben las penas y tratos inhumanos o degradantes y, a fortiori, los actos de tortura. Su jurisprudencia, abundante y rica en matices, en este marco, ha llevado a examinar las condiciones de protección de los derechos humanos en todo Estado hacia el cual un extranjero sea (o haya sido) expulsado

International Law as a Source of Constitutional Law

This article has the purpose to prove that the Customary International Law and the Conventional International Law are sources of Constitutional Law. First, it analyses the matter of the relations between International Law and National or Domestic law according with the theories dualism and monist and international decisions. Then, it studies the reception and the hierarchy of International Customary and Conventional Law to Domestic Law including Constitution. This matter has been studied according with several Constitutions and the international doctrine. Then, it considers the constitutional regulations about international law in the Constitution of the Republic of Colombia. The general conclusion is that International Law is incorporated in domestic law according with the Constitution of each country. But every state has the duty to carry out in good faith its obligations arising from treaties and other sources of International Law, and it may not invoke provisions in its Constitutions or its Laws as an excuse for failure to perform this duty. Accordingly, state practice and decided cases have established this provision, and the same rule is established in articles 27 and 46 of the Vienna Convention on Law of Treaties of 1969.

Option pricing in market models driven by telegraph processes with jumps

Esta tesis está dividida en dos partes: en la primera parte se presentan y estudian los procesos telegráficos, los procesos de Poisson con compensador telegráfico y los procesos telegráficos con saltos. El estudio presentado en esta primera parte incluye el cálculo de las distribuciones de cada proceso, las medias y varianzas, así como las funciones generadoras de momentos entre otras propiedades. Utilizando estas propiedades en la segunda parte se estudian los modelos de valoración de opciones basados en procesos telegráficos con saltos. En esta parte se da una descripción de cómo calcular las medidas neutrales al riesgo, se encuentra la condición de no arbitraje en este tipo de modelos y por último se calcula el precio de las opciones Europeas de compra y venta.

La escuela moderna de Valencia (1906-1914) : una alternativa de educaci??n popular

Historiar el nacimiento (1906), y actividades de la Escuela Moderna de Valencia hasta el regreso de Samuel Torner como director en 1914. Escuela Moderna de Valencia 1906-1914, y el racionalismo pedag??gico valenciano. An??lisis del contexto socio-hist??rico y educativo. Estudio de la Escuela Moderna de Valencia: origen. Biobibliograf??a de dos de sus directores, pr??ctica pedag??gica, labor editorial, etc. An??lisis de la importancia del racionalismo escolar en la Comunidad Valenciana. Prensa local de la Hemeroteca Municipal de Valencia. Prensa obrera y las revistas Humanidad Nueva, Escuela Moderna y Humanidad del International Instituut Voor Sociale Geschiendemis de Amsterdam. Documentos de los Archivos Municipal y Universitario de Valencia, Archivo Hist??rico Nacional y de la Diputaci??n de Valencia. M??todo heur??stico, investigaci??n hist??rica, m??todo anal??tico-descriptivo. La Escuela Moderna de Valencia es la m??s pr??xima al modelo de Ferrer i Guardia y pervivir?? durante dos d??cadas. Tiene en com??n con la barcelonesa la id??ntica concepci??n te??rica y metodol??gica de la acci??n educativa, la influencia ideol??gica y pedag??gica que ejercen, el competente profesorado racionalista, el apoyo del republicanismo local, que colabora en gran medida en su estabilizaci??n y difusi??n, y las intensas relaciones con las sociedades obreras locales. Pero en contraste con la barcelonesa, la Escuela Valenciana recibe subvenciones municipales, proporcionadas por la mayor??a republicana del Ayuntamiento, proporciona la posibilidad de la coeducaci??n a los adultos, y abre sus puertas a clases populares en virtud de cuotas mensuales reducidas. La expansi??n del racionalismo escolar en la Comunidad Valenciana es intensa e importante, pudiendose cuestionar la aseveraci??n de Ivonne Tur??n al circunscribir casi exclusivamente a Catalu??a el movimiento racionalista. La sistem??tica persecuci??n de la Escuela Moderna y otras escuelas racionalistas valencianas, contradice la apreciaci??n de R. Carr, al considerar que la derecha clerical ve su principal enemigo a la instituci??n libre de ense??anza y no a las escuelas racionalistas o laicas. La experiencia escolar racionalista en el Pa??s Valenciano puede considerarse como las m??s importante iniciativa educativa desarrollada en el ??mbito de la educaci??n de las clases populares en la primera d??cada del siglo XX.

A concise summary of the International System of Units, the SI

The Bureau International des Poids et Mesures, the BIPM, was established by Article 1 of the Convention du Mètre, on 20 May 1875, and is charged with providing the basis for a single, coherent system of measurements to be used throughout the world. The decimal metric system, dating from the time of the French Revolution, was based on the metre and the kilogram. Under the terms of the 1875 Convention, new international prototypes of the metre and kilogram were made and formally adopted by the first Conférence Générale des Poids et Mesures (CGPM) in 1889. Over time this system developed, so that it now includes seven base units. In 1960 it was decided at the 11th CGPM that it should be called the Système International d’Unités, the SI (in English: the International System of Units). The SI is not static but evolves to match the world’s increasingly demanding requirements for measurements at all levels of precision and in all areas of science, technology, and human endeavour. This document is a summary of the SI Brochure, a publication of the BIPM which is a statement of the current status of the SI. The seven base units of the SI, listed in Table 1, provide the reference used to define all the measurement units of the International System. As science advances, and methods of measurement are refined, their definitions have to be revised. The more accurate the measurements, the greater the care required in the realization of the units of measurement.

Protecting recognized Geneva Convention refugees outside their states of asylum

This article highlights the predicament of persons recognized as refugees according to the Convention Relating to the Status of Refugees (CSR1951 refugees) when they travel outside their state of asylum. Their status entails ipso facto that, if they are ill-treated abroad, they cannot turn to representatives of their state of nationality and request its diplomatic protection, nor can they expect to receive its consular assistance. It is submitted that a state of asylum ought to extend the scope of protection that it offers CSR1951 refugees residing in its territory, and provide them diplomatic protection and consular assistance when they travel abroad as if they were its nationals. Four claims are advanced in support of this contention: First: the advent of human rights treaties has not rendered obsolete the protection of nationals abroad nor has the practice fallen into disuse. On the contrary, protection abroad retains its pedigree and significance, as is illustrated by the recently adopted International Law Commission's Draft Articles on Diplomatic Protection and by frequent resort to consular assistance. Second: while states previously enjoyed unfettered discretion concerning whether and when to protect their nationals abroad, recent developments in domestic jurisdictions as well as in European Union (EU) treaties point to the potential emergence of a qualified duty to exercise state protection or to be willing to provide justifications for its refusal. These developments call particular attention to the vulnerability of CSR1951 refugees: the professed aim of the EU treaty regime is that EU citizens should enjoy effective state protection wherever they travel; by contrast, CSR1951 refugees are in need of state protection wherever they travel. Third: according to CSR1951, states of asylum are required to issue Convention Travel Documents (CTDs) to recognized refugees lawfully staying in their territory. While CTDs do not in of themselves authorize states of asylum to provide protection abroad to their CSR1951 refugees, they reflect partial recognition of the instrumental role of these states in facilitating safe refugee travel. Fourth: while the 'nationality of claims' requirement remains pivotal to the institution of diplomatic protection, and efforts to effectuate its general relaxation have thus far failed, the International Law Commission (ILC) has 'carved out' an exception authorizing states of asylum to provide protection abroad to their recognized refugees. The ILC's protection-enhancing agenda, reflecting progressive development of the law, is laudable, even though it has opted for a rather cautious approach.

International conference site selection criteria : And a case study of Stockholm as an international conference city

The purpose of this thesis is to identify the destination site selection criteria for internationalconferences from the perspectives of the three main players of the conference industry,conference buyers (organizers and delegates) and suppliers. Additionally, the researchidentifies the strengths and weaknesses of the congress cities of Stockholm and Vienna.Through a comparison with Vienna, the top city for hosting international conferences, a roadmap for Stockholm has been designed, to strengthen its congress tourism opportunities, thus,obtaining a higher status as an international congress city. This qualitative research hascombined both primary and secondary data methods, through semi-standardized expertinterviews and secondary studies respectively, to fulfil the study’s aim. The data have beenanalysed by applying the techniques of qualitative content analysis; the secondary dataadopting an inductive approach according to Mayring (2003) while the expert interviewsusing a deductive approach according to Meuser & Nagel (2009). The conclusions of thesecondary data have been further compared and contrasted with the outcomes of the primarydata, to propose fresh discoveries, clarifications, and concepts related to the site selectioncriteria for international conferences, and for the congress tourism industry of Stockholm. Theresearch discusses the discoveries of the site selection criteria, the implications of thestrengths and weaknesses of Stockholm in comparison to Vienna, recommendations forStockholm via a road map, and future research areas in detail. The findings andrecommendation, not only provide specific steps and inceptions that Stockholm as aninternational conference city can apply, but also propose findings, which can aid conferencebuyers and suppliers to cooperate, to strengthen their marketing strategies and developsuccessful international conferences and destinations to help achieve a greater competitiveadvantage.

Indicators for monitoring the implementation of the Convention on the Elimination of all Forms of Discrimination against Woman

Includes bibliography

Does Israel Follow the Law? A Critical Analysis of Israel's Application of the International Law of Belligerent Occupation in the Occupied Territories

Israel's occupation of territories it captured in 1967 has become one of the longest and most controversial occupations of the last fifty years. Eschewing the traditional political analysis of the Israeli-Palestinian conflict, this paper aims to explore whether Israel has adequately applied international law in the occupied territories, in particular, the law of belligerent occupation. The two actors under assessment are the Israeli government, particularly its military which enforces and maintains the law in the territories, and the Supreme Court of Israel, which has the power of review over military actions in the territories. The particular issues of the occupation that are critically analyzed are the general legal framework that Israel established in the territories, Israel's civilian settlement policy in territories, and Israel's construction of a barrier in the West Bank. This paper concludes that Israel has incorrectly applied the legal framework of belligerent occupation by refusing to apply the Fourth Geneva Convention; it has wrongly concluded that the establishment of civilian settlements in the territories conform with international law; yet it has rightly concluded that the construction of the barrier in the West Bank is permissible under international law, in contrast to the conclusion of the much publicized International Court of Justice's Advisory Opinion on the 'Wall.' Along with these general assessments, the author will also provide some historical and political insight into why the Israeli government and the Supreme Court may have applied the law in the way that they did.