Impacto del entorno institucional en la financiación público-privada de infraestructuras de transporte

Actualmente el sector privado posee un papel relevante en la provisión y gestión de infraestructuras de transporte en los países de ingreso medio‐bajo, principalmente a través de los proyectos de participación público‐privada (PPPs). Muchos países han impulsado este tipo de proyectos con el fin de hacer frente a la gran demanda de infraestructuras de transporte existente, debido a la escasez de recursos públicos y a la falta de eficiencia en la provisión de los servicios públicos. Como resultado, las PPPs han experimentado un crecimiento importante en las últimas dos décadas a nivel mundial. A pesar de esta tendencia creciente, muchos países no han sido capaces de atraer la participación del sector privado para la provisión de sus infraestructuras o no han logrado el nivel de participación privada que habrían requerido para alcanzar sus objetivos. Según numerosos autores, el desarrollo y el éxito de los proyectos PPP de infraestructuras de transporte de cualquier país está condicionado por una diversidad de factores, siendo uno de ellos la calidad de su entorno institucional. La presente tesis tiene como objetivo principal analizar la influencia del entorno institucional en el volumen de inversión en proyectos de participación público‐privada de infraestructuras de transporte en los países de ingreso medio‐bajo. Para acometer dicho objetivo se ha realizado un análisis empírico de 81 países distribuidos en seis regiones del mundo, durante el periodo 1996‐2013. En el análisis se han desarrollado dos modelos empíricos aplicando principalmente dos metodologías: el contraste de hipótesis y los modelos de datos de panel Tobit. El desarrollo de estos modelos ha permitido analizar de una forma exhaustiva el tema de estudio. Los resultados obtenidos aportan evidencia de que la calidad del entorno institucional posee una influencia significativa en el volumen de inversión en los proyectos PPP de transporte. En general, en esta tesis se muestran evidencias empíricas de que el sector privado ha tendido a invertir en mayor medida en países con entornos institucionales fuertes, es decir, en aquellos países en los que ha existido un mayor nivel de Estado de derecho, estabilidad política y regulatoria, efectividad del gobierno, así como un mayor control de la corrupción. Además, aquellos países donde se ha registrado una mejora en el nivel de su calidad institucional también han experimentado un incremento en el volumen de inversión en PPP de transporte. The private sector has an important role in the provision and management of transport infrastructure in countries of medium‐low income, primarily through projects of public‐private partnerships (PPPs). Many countries have developed PPP projects to meet the high demand of transport infrastructure, due to the scarcity of public resources and the lack of efficiency in the provision of public services. As a result, PPPs have experienced a significant growth, worldwide, in the past two decades. Despite this growing trend, many countries have not been able to attract private sector participation in the provision of infrastructure or have not accomplished the level of private participation that would have required to achieve its objectives. According to various authors, the development of PPP projects for transport infrastructure is determined by a number of factors, one of them being the quality of the institutional environment. The main objective of this dissertation is to analyze the influence of the institutional environment on the volume of investment, in projects of public‐private partnerships for transport infrastructure in countries of medium‐low income. In order to meet this objective, we conducted an empirical analysis of 81 countries, in six regions of the world, during the period of 1996‐2013. The analysis used two empirical models, implementing different methodologies and various statistical techniques: hypothesis testing, and Tobit model using panel data. The development of these models allowed to carry out a more comprehensive analysis. The results show that the quality of the institutional environment has a significant influence on the volume of investment in PPP projects of transport. Overall, this dissertation shows that the private sector tends to invest more in countries with stronger institutional environments, i.e. countries where there has been a higher level of Rule of Law, political and regulatory stability, and an effective control of corruption. In addition, those that have improved the level of institutional quality have also experienced an increase in the volume of investment in PPP of transport.

Un modelo para comprender la dinámica de los territorios rurales. El caso de la Argentina

Los territorios rurales de América Latina, y de la Argentina en particular, han sufrido cambios profundos en las últimas décadas producto de transformaciones en materia productiva, demográfica y social. Los cambios son complejos y han dado lugar a una multiplicidad de miradas y de enfoques sobre la nueva realidad. Frente a esta creciente complejidad, se plantea la construcción de un modelo interpretativo de la realidad rural de la Argentina que bien puede contribuir también para abordar las realidades de otros mundos rurales latinoamericanos. El modelo conceptual que se ofrece se construyó a partir del análisis empírico de numerosos casos de territorios rurales de la Argentina. Dicho modelo permite comprender los complejos procesos de organización y la dinámica rural, además de constituirse en una herramienta de prognosis para la definición de políticas públicas acordes que alienten nuevas dinámicas de desarrollo rural en la Argentina

Estudo das propriedades inibidoras de corrosão das imidazolinas oleica e quaternária e seu encapsulamento em partículas inertes.

Entre os inibidores de corrosão clássicos que já são utilizados na indústria do petróleo, foram estudadas a imidazolina oleica e a quaternária através de técnicas eletroquímicas, gravimétrica e analíticas, para avaliar a eficiência de inibição e como esses inibidores atuam em meio ácido. O meio agressivo foi uma solução de NaCl 3,5% em massa acidificada com ácido clorídrico até atingir um pH=2 com o objetivo de simular o ambiente de extração petrolífera. O substrato empregado foi o aço carbono 1020. As técnicas eletroquímicas utilizadas foram: monitoramento do potencial de circuito aberto, medidas de resistência de polarização linear, espectroscopia de impedância eletroquímica (EIE ) e curvas de polarização. Os valores das componentes real e imaginária de impedância indicam uma resistência maior aos processos de transferência de carga com o aumento da concentração dos inibidores e os Diagramas de Bode de ângulo de fase, revelaram a presença de uma camada de inibidor adsorvida sobre o metal com uma constante de tempo em altas frequências observada para a imidazolina oleica e quaternária. Para a imidazolina quaternária, verificou-se que só para tempos maiores de imersão é que o filme se adsorve de forma eficiente demonstrando uma cinética mais lenta de adsorção. Nos ensaios gravimétricos, os resultados de taxa de corrosão em m/ano foram decrescentes com o tempo após período de imersão de 30 dias, para ambas as imidazolinas. O uso das técnicas analíticas foi necessário a fim de se compreender melhor o comportamento das imidazolinas sobre o aço no meio estudado. Os resultados da análise de íons férricos em solução, por emissão atômica, foram obtidos durante várias amostragens durante o período do ensaio de perda de massa, e foi possível verificar um processo de inibição da corrosão até doze dias de imersão do metal, depois disto ocorre um disparo na quantidade de ferro liberado em solução, sugerindo que pode estar ocorrendo uma degradação do inibidor após 12 dias de imersão. Para esclarecer esse ponto, análises por espectroscopia Raman dos produtos de fundo formados durante os ensaios de perda de massa indicaramm que a degradação pode realmente estar ocorrendo. Foi confirmado, também por espectroscopia Raman sobre a superfície do aço após imersão prévia em solução contendo a imidazolina oleica, que há uma película adsorvida que protege o metal do meio agressivo. Técnica de microscopia eletrônica de varredura foi utilizada para caracterizar os corpos de prova na ausência e presença do inibidor, depois dos ensaios eletroquímicos e foi possível caracterizar, através dessa técnica a maior eficiência inibidora do filme de imidazolina quaternária. Dois tipos de nanoconatiners foram avaliados para o encapsulamento das duas imidazolinas estudadas: nanocontainers a base do argilomineral haloiista e sílica mesoporosa tipo SBA 15. Resultados de impedância eletroquímica mostraram a liberação dos inibidores de corrosão encapsulados com o tempo de imersão. Análise na região do infravermelho por sonda de fibra ótica foi utilizada para comprovar química e qualitativamente a liberação do inibidor a partir dos nanorreservatórios, no meio agressivo.

Modelling and testing volatility spillovers in oil and financial markets for USA, UK and China

The primary purpose of the paper is to analyze the conditional correlations, conditional covariances, and co-volatility spillovers between international crude oil and associated financial markets. The paper investigates co-volatility spillovers (namely, the delayed effect of a returns shock in one physical or financial asset on the subsequent volatility or co-volatility in another physical or financial asset) between the oil and financial markets. The oil industry has four major regions, namely North Sea, USA, Middle East, and South-East Asia. Associated with these regions are two major financial centers, namely UK and USA. For these reasons, the data to be used are the returns on alternative crude oil markets, returns on crude oil derivatives, specifically futures, and stock index returns in UK and USA. The paper will also analyze the Chinese financial markets, where the data are more recent. The empirical analysis will be based on the diagonal BEKK model, from which the conditional covariances will be used for testing co-volatility spillovers, and policy recommendations. Based on these results, dynamic hedging strategies will be suggested to analyze market fluctuations in crude oil prices and associated financial markets.

Volatility spillovers for spot, futures, and ETF prices in energy and agriculture

The agricultural and energy industries are closely related, both biologically and financially. The paper discusses the relationship and the interactions on price and volatility, with special focus on the covolatility spillover effects for these two industries. The interaction and covolatility spillovers or the delayed effect of a returns shock in one asset on the subsequent volatility or covolatility in another asset, between the energy and agricultural industries is the primary emphasis of the paper. Although there has already been significant research on biofuel and biofuel-related crops, much of the previous research has sought to find a relationship among commodity prices. Only a few published papers have been concerned with volatility spillovers. However, it must be emphasized that there have been numerous technical errors in the theoretical and empirical research, which needs to be corrected. The paper not only considers futures prices as a widely-used hedging instrument, but also takes an interesting new hedging instrument, ETF, into account. ETF is regarded as index futures when investors manage their portfolios, so it is possible to calculate an optimal dynamic hedging ratio. This is a very useful and interesting application for the estimation and testing of volatility spillovers. In the empirical analysis, multivariate conditional volatility diagonal BEKK models are estimated for comparing patterns of covolatility spillovers. The paper provides a new way of analyzing and describing the patterns of covolatility spillovers, which should be useful for the future empirical analysis of estimating and testing covolatility spillover effects.

Disquieting Discretion: Race, Geography & the Colorado Death Penalty in the First Decade of the Twenty-First Century

This Article demonstrates through original statistical research that prosecutors in Colorado were more likely to seek the death penalty against minority defendants than against white defendants. Moreover, defendants in Colorado’s Eighteenth Judicial District were more likely to face a death prosecution than defendants elsewhere in the state. Our empirical analysis demonstrates that even when one controls for the differential rates at which different groups commit statutorily death-eligible murders, non-white defendants and defendants in the Eighteenth Judicial District were still more likely than others to face a death penalty prosecution. Even when the heinousness of the crime is accounted for, the race of the accused and the place of the crime are statistically significant predictors of whether prosecutors will seek the death penalty. We discuss the implications of this disparate impact on the constitutionality of Colorado’s death penalty regime, concluding that the Colorado statute does not meet the dictates of the Eighth Amendment to the Constitution.

Ética civil y ética religiosa en España

Se muestra la existencia en España de una ética civil, coherente con el proceso de secularización y modernización experimentado por las sociedades europeas. Tras una exposición de las bases conceptuales de lo que se considera “ética civil”, y empleando los datos de la encuesta internacional Pew Global Attitudes Project, se contrastan un conjunto de hipótesis para España relativas al peso de factores estructurales (sexo, edad, educación e ideología) en la aceptación de una ética cívica o religiosa, y la influencia de esta en opiniones, actitudes y comportamientos relacionados con la religión en la vida pública. El contraste empírico de las hipótesis especificadas revela la influencia que tiene la opción ética en la opinión pública referida al Estado, la sociedad y la religión. Los resultados son acordes con los expuestos por investigaciones anteriores, validándolos, al emplear expresiones alternativas y permitiendo un análisis novedoso de la ética civil y religiosa en la sociedad española.

Contribution of individual to collective brands

Traditionally, literature estimates the equity of a brand or its extension but it pays little attention to collective brand equity even though collective branding is increasingly used to differentiate the homogenous products of different firms or organizations. We propose an approach that estimates the incremental effect of individual brands (or the contribution of individual brands) on collective brand equity through the various stages of a consumer hierarchical buying choice process in which decisions are nested: “whether to buy”, “what collective brand to buy” and “what individual brand to buy”. This proposal follows the approach of the Random Utility Theory, and it is theoretically argued through the Associative Networks Theory and the cybernetic model of decision making. The empirical analysis carried out in the area of collective brands in Spanish tourism finds a three-stage hierarchical sequence, and estimates the contribution of individual brands to the equity of the collective brands of “Sun, Sea and Sand” and of “World Heritage Cities”.

Gestión de la calidad y medioambiental y rendimiento empresarial: un análisis de los hoteles españoles

Un tema importante en la literatura sobre calidad es la relación entre la gestión de la calidad y el rendimiento empresarial. Lo mismo ocurre en el campo de la gestión medioambiental. La literatura ha analizado estos sistemas por separado y principalmente en empresas manufactureras. Este estudio analiza conjuntamente ambas prácticas de gestión en el sector hotelero. En concreto, este trabajo identifica los niveles de compromiso con la gestión de la calidad y la gestión ambiental de los hoteles españoles y examina la relación entre el compromiso conjunto con estos sistemas de gestión y el rendimiento empresarial. Los resultados muestran tres tipos de hoteles de acuerdo con su nivel de compromiso con la gestión de la calidad y la gestión ambiental: proactivos, intermedios y reactivos. Además, se ha comprobado que el rendimiento crece conforme mayores son los niveles de compromiso con la gestión de la calidad y el medio ambiente.

La música como lenguaje de las emociones. Un análisis empírico de su capacidad performativa

Esta investigación estudia la relación entre las emociones y la música. Se efectúa un diseño de test-retest donde los individuos expresan qué música escucharían según estados de ánimo, para posteriormente pedir a una segunda muestra, distinta a la anterior, que valore en qué grado considera que dichas canciones expresan esos mismos estados de ánimo. Se ha efectuado un análisis de los rasgos musicales de dichas canciones. Se concluye que tanto en las emociones como en los rasgos musicales existe una dimensionalidad subyacente. En el caso de las emociones corresponde con las propuestas del diferencial semántico. En los rasgos musicales, se determinan dos dimensiones aún sin etiquetar teóricamente. Finalmente, se muestra la relación empírica entre rasgos musicales y emociones mediante un modelo estructural de medición.

Relevancia del papel del planificador estratégico en la investigación publicitaria

La investigación sobre el consumidor ha sido el eje central del trabajo del planificador estratégico desde el nacimiento de la profesión en 1968. En concreto, en el origen de la disciplina de la Planificación Estratégica está la relevancia de la investigación cualitativa como fuente fiable para conocer en profundidad al consumidor y poder desarrollar campañas de comunicación eficaces, relevantes y distintivas. Por ello, y por la repercusión que tiene el conocimiento profundo del consumidor hoy en día, se va a hacer un repaso bibliográfico por las funciones que tradicionalmente ha adquirido el planificador en relación a la investigación para después aplicarlo a la realidad española actual a partir de un estudio empírico a los planificadores estratégicos españoles. El artículo termina con una reflexión sobre el papel relevante que el planner tendrá en un futuro muy próximo en el panorama de Big Data.

Ofshoring de servicios en la economía española en el periodo 2000-2007

La literatura económica ha centrado la atención en el offshoring de servicios y en su efecto sobre el nivel de empleo nacional, unido a importantes críticas en relación al impacto negativo que esta estrategia provoca en términos de destrucción de empleos nacionales. En este trabajo se analiza la relevancia que tiene el offshoring de servicios en la economía española y, en concreto, en las ramas de servicios y se estudia su efecto sobre el nivel de empleo de este sector. El análisis empírico se lleva a cabo estimando una función de demanda de trabajo con elasticidad de sustitución constante (CES), incluyendo en la misma el efecto de offshoring. Este estudio se realiza para el periodo previo a la crisis, 2000-2007, a partir de los datos contenidos en las Tablas Input-Output de la Contabilidad Nacional del INE.

Differentiated effect of advertising: Joint vs. separate consumption

In a context of intense competition, cooperative advertising between firms is critical. Accordingly, the objective of this article is to analyze the potential differentiated effect of advertising on two basic consumption patterns: individual products (i.e. hotel, restaurant) vs. bundle (i.e. hotel + restaurant). This research adds to the extant literature in that, for the first time, this potential differentiated effect is examined through a hierarchical modelling framework that reflects the way people make their decisions: first, they decide whether to visit or not a region; second, whether to purchase an advertised product in that region; and third, whether to buy products together or separately at the region. The empirical analysis, applied to a sample of 11,288 individuals, shows that the influence of advertising is positive for the decisions to visit and to purchase; however, when it comes to the joint or separate consumption, advertising has a differentiated effect: its impact is much greater on the joint alternative (“hotel + restaurant”) than the separate options (“hotel” and “restaurant”). Also, the variable distance moderates the advertising effect.

The effects of economic crises on tourism success: an integrated model

This paper provides a theoretical model of the influence of economic crises on tourism destination performance. It discusses the temporary and permanent effects of economic crises on the global market shares of tourism destinations through a series of potential transmission mechanisms based on the main economic competitiveness determinants identified in the literature. The proposed model explains the non-neutrality of economic shocks in tourism competitiveness. The model is tested on Spain's tourism industry, which is among the leaders of the global tourism sector, for the period 1970–2013 using non-linear econometric techniques. The empirical analysis confirms that the proposed model is appropriate for explaining the changes in the market positions caused by the economic crises.

The Discursive double game of EMU reform: the clash of titans between French White Knight and German Iron Lady. Paper presented at the 9th Biennial Conference European Community Studies Association–Canada (ECSA-C), Ottawa, Ontario, April 27-28, 2012

From the Introduction. In the aftermath of the EU’s enlargement towards Central and Eastern Europe, many scholars and observers of European integration were proclaiming that the French-German “engine” of Europe had come to an end. The political legitimacy of French-German initiatives was contested by coalitions of smaller member states and the ‘new Europe’ was calling for new leadership dynamics. However, the experience of the Eurozone debt crisis provided dramatic evidence that no alternative to the Franco-German partnership has yet to emerge in the enlarged EU. In a time of existential crisis, Franco-German initiatives appear to have remained the basic dynamic of integration. However, unlike in the past, agreements on steps forward have proven to be particularly difficult. This is largely due to these countries’ contrasting political economic policy ideas, cultures, and practices....the paper analyses the ideational ‘frames’ of the two leaders while tracing their discursive interactions against changing background conditions since the European debt crisis was triggered by Greece in October 2009 until the last measures taken in 2012 before the French Presidential elections. The empirical analysis is based on a systematic corpus of press conferences and media interviews by Nicolas Sarkozy and Angela Merkel after European summits. It is complemented by a number of press interviews including some given by their respective Finance Ministers) and important speeches in that same period of time.