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

Corporations with persistently negative profitability, excessive leverage, and declining real revenue growth, are colloquially referred to as "zombie firms" due to their economically unviable nature.Such financially distressed entities operate in both developed economies and emerging markets. This paper quantifies the financial performance of zombie firms within Colombia’s petrochemical cluster using a five-component methodology. The research applies a probit regression, a comparative analysis of financial constraint indices, an investment-cash flow sensitivity model, a corporate flow of funds analysis, and a cash flow sensitivity of cash model. The probit model establishes that indebtedness, minimal asset tangibility, and inadequate operating cash flow function as the primary statistically determinant predictors of zombie status. The comparative analysis of financial constraint indices confirms the superior discriminatory power of the Whited-Wu index over the Kaplan-Zingales and Size-Age alternatives for classifying these corporations. Furthermore, the investment-cash flow sensitivity model establishes that zombie firms systematically curtail capital expenditures in response to their distressed nature, a behavior not observed in their solvent counterparts. The corporate flow of funds analysis derives a structural explanation: an inability to generate internal cash flow and volatility in working capital primarily cause the financing deficit of underperforming entities, whereas these factors are not determinant for solvent corporations.Finally, the cash flow sensitivity of cash model confirms that a precautionary motive dictates the cash accumulation policies of zombie firms, a behavior absent in financially viable entities.

This paper investigates the relationship between fiscal policy composition and long-run economic growth by extending the classic Alesina–Rodrik framework. We develop a dynamic model that distinguishes between capital-augmenting public investments (such as infrastructure) and labor-enhancing expenditures (including human capital development), both financed through a wealth tax. Our central hypothesis is that an optimal allocation of public spending exists which maximizes the net return on capital and thereby supports sustained growth. However, political pressures—stemming from heterogeneous factor endowments and median voter preferences—can drive fiscal policies away from this efficiency benchmark, leading to suboptimal tax rates and spending compositions that may even trigger growth traps. By employing comparative statics and equilibrium analysis, we demonstrate how redistributive forces influence the choice of fiscal instruments, ultimately affecting aggregate productivity and capital accumulation. The findings offer novel theoretical insights into the trade-offs between redistribution and growth, underscoring the critical importance of aligning fiscal composition with underlying production technologies to achieve both efficient and politically feasible outcomes.

This study examines the impact of the 2017 El Niño phenomenon on per capita expenditures on health and education among rural households in the northern coastal region of Peru. We use household-level panel data from 2015 to 2019, along with district-level precipitation data. A difference-in-differences (DiD) model is proposed to compare households affected by the phenomenon with those that were not affected. The results show that the 2017 El Niño phenomenon had a negative effect on per capita expenditures on health and education for the affected rural households, possibly driven by a negative shock to agricultural income. Consequently, the findings suggest that individuals in affected households have reduced access to the benefits of acquiring health and education services, increasing their vulnerability to health risks and cognitive skill development challenges.

The educational research project Integration and Assessment of Contemporary Art Processes in the Design of Learning Environments was implemented during the 2022-2023 academic year in the Early Childhood Education Teacher Degree program. Conducted under the REDICE 2022 initiative, its primary objective is to design, execute, and evaluate a training proposal based on contemporary art creation processes. The project employed an experimental, mixed-method study through correlational research structured across five distinct phases. The findings indicate significant shifts in students' perceptions and interactions with contemporary art, with a majority recognizing it as a valuable resource for creating impactful learning experiences in Early Childhood Education.

The objective of this study was to analyze the perceptions of school leaders regarding the principles and practices that guide the construction and development of Professional Learning Communities (PLCs) in schools in Chile and Peru. A qualitative methodology with a descriptive scope was employed. Six school leaders were intentionally selected to participate. Data collection was conducted through focus groups, and the analysis was carried out using grounded theory. The results indicate that participants emphasize pedagogical and distributed leadership as key factors in consolidating PLCs, fostering collaboration and critical reflection on teaching practices. It is concluded that PLCs are fundamental in creating collaborative cultures that enhance educational quality, provided that a shared vision of learning is established.

The Final Report of the Truth Commission, presented to Colombians in 2022, is hosted on a transmedia platform that integrates written texts and multimedia products in various formats. This platform provides access to collected testimonies, analyses of the recovered truth, concrete data and figures on the multiple impacts of the armed conflict, and information about the social actors involved. The social appropriation of this report is an essential task in educational contexts, serving as a tool for ensuring non-repetition. Within this framework, a participatory action research process was conducted, generating initiatives such as the design of a communication strategy, recognition and awareness workshops, the collection of testimonies, the socialization of results, and the delivery of dissemination materials about the Commission’s Report.

This paper presents a state-of-the-art review of rural higher education in Colombia, focusing on academic work conducted between 2015 and 2023. Employing a qualitative approach and drawing on Pierre Bourdieu’s methodology of the field of knowledge, a systematic documentary review was carried out. The analysis identified two main categories of work: Within the academy and Outside the academy, each further subdivided to provide a nuanced examination of the strengths and weaknesses of the reviewed studies. The findings highlight significant gaps and challenges in the field. The paper concludes by emphasizing the urgent need for more inclusive and diversified public policies to address persistent educational inequalities in rural areas.

 In a language institute in Lima, the community of practice of English teachers constitutes an essential space for collaboration and professional development. It emerges as a response to specific challenges in the educational environment, promoting the exchange of ideas and collective improvement. Participants describe the community as a space for dialogue and mutual support, with a particular emphasis on the use of educational technology during the pandemic. Its main goal is to enhance teaching practices through the exchange of practical and useful ideas. This case study, based on interviews and observations, highlights its capacity for teachers’ professional development and its adaptation to challenging circumstances. The community fosters critical thinking and the collaborative distribution of leadership, emphasizing the importance of the leader’s social experience. In summary, this community emerges as a valuable space that positively impacts teaching practice, promoting collaboration and adaptability.

This study examines the relationship between the development of critical thinking and environmental educational management within a secondary-level educational community in Peru, in the context of the COVID-19 pandemic. Employing a mixed-methods approach with a concurrent multilevel design, the research explores how economic, social, and cultural factors influence critical thinking. Through exploratory factor analysis and structural equation modeling, three key dimensions of critical thinking are identified: substantial, contextual, and pragmatic development, with substantial development emerging as the most significant predictor. The findings underscore the importance of pedagogical strategies that enhance both critical and environmental awareness, thereby supporting educational management practices that foster adaptation to emerging environmental and social challenges.