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

This academic review claims about the convenience of implement corporate governance in the world of business to improve their corporate reputation and work actual problems of modern enterprises. The work propose principal theories about corporate governance (agency, stakeholders, and production of team) and argument some rules of practice.

From the finding of the contemporary presence of the animal in human culture and legal systems addresses the importance of animal health as a social and institutional concern based on a perspective of animal welfare that not only settled the utility or productivity issue of animal health, but a more integral conception. This involves a set of relevant and vital relationships between human health and animal health. Highlights the contribution resulting from the international perspective in this field.

This study estimates the effect of intra-Eurozone trade imbalances on the economic growth of each of the 12 member states during the period 2000- 2016, distinguishing the period 2008-2016, to consider possible changes derived from the economic crisis. We perform a SUR type econometric analysis on the basis of a balance of payments constrained growth model (Thirlwall's Law). The data source is AMECO, of the European Commission, and “Direction of Trade Statistics”, of the International Monetary Fund. The results show that the internal trade imbalances would have positively affected the growth of the exporting countries and, also, positively that of some of the importing. Regarding the effects of the crisis, in some countries, Belgium, Finland and Ireland, the impact of trade imbalances on economic growth is reduced, while in others, the Netherlands and Greece is reinforced.

About a third of Spanish students will have repeated at least one school year by the time they reach 16. It is claimed that alternative policies top grade repetition should seek to provide individualised treatment and ensure early intervention. In Spain, while there is empirical evidence in support of the benefits of the former, there is little for the latter. Here, we fill this gap by combining data from two international assessments. We identify the profile of students who a) are at greatest risk of grade retention and b) are most negatively affected by the policy. Our results confirm the importance of early intervention and the need to rethink grade repetition as a one-size-fits-all policy.

This paper presents an empirical analysis of the effect of inequality and redistribution on the economic growth of 25 OECD countries for the period 1986-2014. The novelty of this work is that, in addition to an econometric specification derived from the neoclassical model of growth, which is common in the empirical literature, it also estimates a specification derived from postKeynesian theory of growth from the Thirwall´s Law. This is intended to give greater robustness to the results. The econometric technique used is the estimator of the Generalized Method of the Moments in first differences of Arellano and Bond (1991), in addition to fixed effects by generalized least squares and standard errors corrected for panel. The results show that both in the neoclassical specification and in the post-Keynesian one, inequality and the redistributive effect have a negative effect on the economic growth of the countries in the sample. Now, while in the neoclassical specification the coefficients are statistically significant, in the derivative of the Thirwall Law they are not. These results are consistent with the accumulated empirical evidence, where in most cases the results show a negative effect of inequality on growth.

This paper analyses the gross inland energy consumption (EC) in the European Union countries (EU-15) over the period 2005-2014. The standard tools in the measurement of income inequality such as Lorenz curves, Gini index, Generalized Entropy indices and Atkinson ones are applied. Our empirical results, obtained through the decomposition of the generalized entropy indices, confirm that there are a small inward shift in the corresponding Lorenz curves, that the inequality distribution of EC across the EU-15 countries has decreased (the Gini coefficient falls from 44,27% in 2005 to 42,16% in 2014) and there are huge differences among the countries’ clusters: Mediterranean, Continental, Nordic and Anglo-Saxon. This paper makes a good contribution to knowledge since it uses a very up-to-dated database (Eurostat) and fills a gap in the literature.

Since the signing of the Bretton Woods Agreements, the US dollar has formed the central axis of the International Monetary System (IMS). However, is this hegemonic situation sustainable in the medium to long term? This study seeks to answer that question using a prospective approach based on the Complex Adaptive Systems (CASs) underlying Complexity Economics. The greatest danger facing the current IMS as a CAS lies in its endogenous evolution.The modern Triffin dilemma and a tendency towards multipolarity in the economic system –as opposed to the continued unipolarity of the monetary system– make it essential to adapt the system. However, no such adaptation is currently taking place. Thus, with no need for any external shock, the very nature of the IMS leads to an eroding of confidence in the dollar in the medium/ long term. In order for the IMS to adapt and reconstruct itself, co-operation between interactive agents participating in the system is essential.

This paper analyses the way in which the adoption of New Technologies (NTs) can influence labour productivity, price differentials and, therefore, economic competitiveness. To that end, are briefly surveyed the explanatory theories on productivity and price differentials, as well as the empirical contributions on these issues. Finally, using the data provided by Eurostat, the effects of the use of NTs for the Eurozone countries are illustrated. The empirical analysis focuses on two of the main ways in which NTs could contribute to improve labour productivity: through the externalities coming from expenditure on research and development, and employment in NTs-intensive sectors. The main result is that the price differentials observed in the euro area are not explained by productivity differentials.

This paper aims at presenting the Norwegian Government Pension Fund Global (GPFG), the world’s largest Sovereign Wealth Fund, characterized by its pioneering ethical guidelines for investment decisions, based on active ownership and the exclusion of firms from its portfolio. Two major reasons for the exclusion of a company is “severe environmental damage” and “coal production”, leading to the banishment of many companies from the Fund’s holdings. Despite the noble intentions, the GPFG is loaded with inconsistencies, especially because its resources come from the exploitation of fossil fuels that contribute to global greenhouse gas emissions. Moreover, the entire Norwegian environmental policy is fragmented and suffers from contradictions.

We analyze the current-account reversals in the peripheral countries of the euro zone (ZES), Greece, Italy, Spain, Portugal and Ireland, during the financial crisis episode. After determining the trend and start date of reversals, we investigate the involved economic costs in each country using a Keynesian model for open economies. We estimate the model with panel data of the period 1999-2013. Our results indicate that each country of the sample suffered significant costs in terms of GDP losses, going from 32% in Greece to 6% in Ireland. Results allow us to derive policy prescriptions for the governments of both peripheral and northern economies of the Eurozone.