Sistema Regional de Información
en línea para Revistas Científicas de América Latina,
el Caribe, España y Portugal

This paper studies the effects of Official Development Assistance (ODA) and IMF lending on economic inequality and compares the effectiveness of both instruments. To this end, we analyze the channels through which each of these instruments contributes to the reduction of inequality. Then, we propose a panel data model for 85 countries from 2000 to 2019 to test the impact of these two mechanisms on the reduction of inequality. The results suggest that multilateral ODA is more effective in reducing inequality than its bilateral counterpart. Also, it is more effective than the IMF lending. However, our results do not allow to generalize these conclusions to a regional level due to the intrinsic heterogeneity of each region in the world.

The study aims to model the evolution of stock prices and consumer/enterprise confidence index using the PLS-SEM path method to approach their behavior through different types of constructs. Furthermore, different construct sectors are analyzed using the most important enterprises of the Mexican Stock Index, modeling as explanatory variables confidence and macroeconomic single and non-single constructs. The PLS-SEM path model has arrived as a modeling option to be used in financial and economic sciences due to its numerous virtues in statistical assumptions. This research concludes that the Mexican Stock Market can be studied with constructs, improving flexibility and exploratory using different validity measures.

An important engine of economic development of the country is the development of small and medium enterprises. At the same time, small and medium-sized businesses, being elements of the economic system, have a significant impact on the overall economic growth of the country. Thus, there is a mutual influence of economic units on the economy as a whole. The purpose of the article is to study the impact of small and medium-sized enterprises of small and medium-sized enterprises on the gross domestic product on the example of Eastern European countries. Methods: analysis, description, observation, comparison, generalization, induction, deduction, grouping, systematization, tabular and graphical representation. Results: The level of ease of doing business in Eastern Europe was analyzed according to the Ease of doing business ranking and it was found that the Czech Republic and Poland are among the 40 countries in Eastern Europe ranked 40th and 41st out of 190 possible. It is established that the subjects of small (including micro-enterprises) and medium-sized enterprises belonging to the non-financial sector, in the structure of all enterprises of the non-financial sector of each of the studied countries occupy more than 90%. It was found that a significant share in the structure of small and medium enterprises in Eastern Europe is occupied by micro-enterprises, while the share of medium-sized enterprises is the lowest. The results of regression analysis to determine the impact of small and medium enterprises on the economic growth of countries obtained by establishing the dependence of GDP on Turnover of the non-financial business economy by size class of employment. Revealed a high dependence of GDP Turnover of the non-financial business economy by size class of employment in all surveyed countries in Eastern Europe.

Purpose The present study aims to compare social media marketing with traditional marketing concerning its role in Hotel Branding and Hotel Revenue. Design/Methodology/Approach A quantitative approach has been adopted for this research, wherein the data has been collected through a questionnaire from 470 respondents comprising General Managers, Marketing Managers & Departmental Heads of 77-star hotels (5*Deluxe, 5*, 4* & 3*) in Delhi/NCR. Findings The findings highlight the prominence of social media marketing and discover that social media marketing has benefitted the hotel industry in increasing brand awareness and generating revenue as compared to the traditional marketing methods. It also discovers that social media marketing is the future of the hotel industry. Practical Implications This study will help the hotel managers in the application of various Social media marketing practices for the overall profitability of the business. Originality/Value Arguably this is one of a kind study, as there has been no such research done specifically aiming at the perception of Hotel Managers of star hotels of the Indian market. The findings will help the hotel industry enrich its digital presence by suggesting the benefits of social media marketing as compared to traditional marketing in creating & enhancing brand awareness and generating more revenue.   Limitations The present study is just confined to hotels in Delhi/NCR and hence carried on a limited population. A more detailed study with a larger sample size, with a large range of variables and/or in any other region of the country, may also be carried out to effectively represent the intrinsic research. Keywords: Hotel; Social Media; Traditional Media; Social Media Marketing; Traditional Marketing

Real effective exchange rate (REER) misalignment leads to severe disruptions which negatively affects the tradeable sector and other sectors of an economy. However, the extent to which it affects agricultural export performance has not gained much attention. This paper, therefore, examined the effect of maintaining the REER at its equilibrium value on agricultural export (cotton and palm kernel) in Nigeria and how its misalignment also affects agricultural export using the VECM and ARDL model. The effects of trade openness, terms of trade, capital inflows and government expenditure on agricultural export were also investigated. The study employed a behavioural equilibrium exchange rate approach to determine the equilibrium path and estimate the REER misalignment. The results revealed that misalignment in the REER reduced the volume of agricultural exports thereby worsened its performance. While keeping the REER at equilibrium had a positive influence on the volume of agricultural export in Nigeria. Furthermore, the macroeconomic variables such as trade openness positively affected agricultural export while the term of trade had a negative effect on agricultural export. Thus, more trade openness, an improved term of trade and maintaining the REER at equilibrium value will improve the agricultural export performance in Nigeria.

Several studies have estimated the energy efficiency performance of firms, countries and regions. Recently, the efficiency literature highlighted two types of efficiencies- persistent and transient efficiency. However, several studies have failed to distinguish between these two types of efficiencies. In the light that there are no studies addressing this issue from a global perspective, this paper adopts the stochastic frontier approach and the Kumbhakar, Lien and Hardaker (KLH) model in the estimation of persistent, transient and total energy efficiency of 141 countries during the period 1980-2016. Our findings show that global energy efficiency issue is structural in nature. Increasing both transient and persistent energy efficiency will save 13% and 31% of total energy consumed, respectively. Therefore, environmental and energy security issues will profit significantly from long-term policies rather than the short-term policies. Thus, countries should focus on addressing environmental and energy issues using long-term policies.

The basic purpose of this study is to examine the impact of electioneering on currency and equity market of south Asian countries (Pakistan, India, Sri Lanka, Nepal, and Bangladesh) during electioneering. Event study analysis is used for the calculation of Abnormal Returns (AR), Cumulative Abnormal Returns (CAR), Average Abnormal Returns (AAR) and Cumulative Average Abnormal Returns (CAAR). The results indicate that there is a significant impact of electioneering on Pakistan currency and equity markets, whereas in Nepal and Bangladesh it is significant only for the equity market. On the other hand, it shows insignificant impact in India and Sri Lanka for CAAR using the constant return model. The findings depict that Pakistan’s both markets are inefficient, whereas Nepal and Bangladesh equity markets are inefficient markets, it means that these markets fail to fully reflect public information. While India and Sri Lanka’s markets are efficient markets.

Temples and festivals constituted spaces in the Western world that kept maintained the memory alive and served as instruments of control and subjection. In Mexico City, first the conquerors and later the friars, built chapels dedicated to three holy warriors and the Vera Cruz [True Cross] whose help was considered essential in the victory against the devil and his worshipers. Through these chapels, the most significant events of the Spanish conquest of Tenochtitlan, appraised as a crusade to eradicate idolatries, were evoked. Over time these places and the festivals celebrated in them changed their meaning hand in hand with the transformation of the city and the emergency of new social actors. The first holy warriors were joined by the martyrs and the relatives of the Virgin Mary, saints more in line with the new times, while the images of Remedios and Guadalupe began to take on warrior characteristics, becoming the true extirpators of idolatries.

This text analyzes the demographic impact of the smallpox epidemics before and after the introduction of variolation and vaccination at the end of the colonial period in three settlements located in the south of the province of Coahuila: Parras, Patos, and El Álamo through the study of the burial books of these three parishes. The elements considered for this investigation were: the geographical and historical context of the space studied along with the etiology of smallpox, its differential diagnosis and the history of variolation and vaccination. On the other hand, the impact of preventive measures on the number of deaths was calculated using the Del Panta-Livi Bacci methodology. It is concluded that variolation and the vaccine had a different impact according to the socio-economic context of each settlement and its proximity to the centers of ecclesiastical and civil administrative power, where the promotion of both prevention measures was more effective.

In the bishopric of Durango, as in the rest of those in New Spain, the cost of burials was regulated by the tariff laws established and sanctioned by the Spanish monarchy. These laws were inspired by the Mexican provincial councils, which imposed the obligation for the clergy to administer the sacraments to the faithful and in return be remunerated according to tradition or negotiation depending on the consensus, although in case of failure a fee should prevail. The application of tariffs originated various conflicts between clergy, parishioners, and civil authorities. However, religious leaders defended the right of obventions because it guaranteed them financial support. Most obtained higher amounts than those established by law, which was 300 pesos a year, and that allowed them not only to lead a decent lifestyle, but also to participate in the local economy and amass notable fortunes.