Growth machines and social movements in mature tourist destinations Costa del Sol-Málaga

Abstract

The purpose of this study is to analyse the new processes of tourism growth and its conflicts from the perspective of social movements. First, the urban growth machine analysis model is applied by the systematisation of six projects. Second, the resistance movements against those projects and whether this resistance could be the start of local tourism degrowth policies are examined. The methodology is qualitative, based on documentary analysis, participatory observation, discussion groups and interviews. The case study is the destination of Costa del Sol-Málaga. The results enable the development of the urban growth machine model in tourist destinations. Meanwhile, social movements demystify the argument based on neoclassical economic progress. The social movements condemn the effects of large-scale top-down projects, and implement alternative bottom-up proposals. Although the social movements do not reject tourism, they call for greater control over its impact, denounce unlimited growth, overtourism and the loss of urban quality of life. These movements advocate a lifestyle linked to the everyday space, which they believe is threatened by excessive urban-tourism growth. They are a symptom of the need to devise a proposal using the principles of degrowth.     

Police-Monitored Cameras and Crime*

We study the effects of police monitoring on crime. We exploit detailed information on the location and date of installation of police-monitored surveillance cameras, coupled with data at the street-segment level on all reported crimes in the city of Montevideo, Uruguay. We find that the introduction of police-monitored surveillance cameras reduces crime by about 20 percent in monitored areas relative to a pure control group located outside the city. We also explore potential displacement effects, and we do not find evidence of such effects.     

WHAT HAPPENED TO THE WILLINGNESS OF COMPANIES TO INVEST AFTER THE FINANCIAL CRISIS? EVIDENCE FROM LATIN AMERICAN COUNTRIES

In this article we investigate the changes in corporate investment dynamics in the aftermath of the global financial crisis. Using firm-level data from six Latin American countries from 2002 to 2015, we show that firms are less constrained and have greater ability to invest after the crisis. However, the willingness of firms to invest optimally is reduced. This is supported by strong evidence that during the postcrisis period investment–cash flow sensitivity disappears, investment-q sensitivity increases, and the estimated speeds of adjustment for target investment decrease. Moreover, after the crisis, firms notably increase their efforts to attain optimal cash and leverage levels. Our analysis implies that firms may not always be willing to invest optimally. The willingness to invest optimally appears to be time variant and moves together with the dynamics of cash and leverage policies, albeit in opposite directions.     

Disappearing investment-cash flow sensitivities: Earnings have not become a worse proxy for cash flow

According to a recent conjecture in the literature, earnings have become a poorer proxy for cash flow from operations over time. We find that since 1988, when cash flow statements started to be consistently reported in Compustat, the cash effectiveness of earnings has actually increased for a large sample of US manufacturing firms. This occurs despite the introduction of fair value accounting and increasing accounting accruals during the last three decades. Also contrary to the conjecture, using more comprehensive measures of cash flow does not restore the investment-cash flow sensitivity, which continues to be around 0.05 in more recent periods.     

What Factors Keep Cash Alive in the European Union?

This paper aims to analyze the determinants of cash usage in a selection of European Union (EU) countries over the 2003–2016 period, based on a set of technological, socioeconomic, and socio-cultural indicators and cost components. Our results reveal the existence of both common and region-specific determinants for the EU advanced and Central and Eastern European (CEE) countries. In both groups cash usage is determined by payment system characteristics. Additionally, in the EU advanced countries cash usage can also be explained by the level of economic development and income inequalities and proliferation of Internet. In contrast, cash usage in CEE countries is negatively associated with consumer confidence and is inversely related to the technological progress, expressed in terms of mobile users.

     

Ethics at the workplace in the fourth industrial revolution: A Catholic social teaching perspective

While many studies on the Fourth Industrial Revolution (FIR) focus on efficiency, productivity and economic progress, only a few have considered its ethical aspects. This article tries to contribute to filling this vacuum by providing a comprehensive approach to ethical risks at the workplace. Drawing upon Catholic social teaching (CST)—addressed to all people of good will—it analyzes ethical aspects at the workplace posited by the FIR, and more particularly by Industry 4.0, which is at the core of this revolution. CST emphasizes the dignity of the worker and the necessity to flourish at the workplace. While robots, artificial intelligence, and interconnected technologies are only instrumental, the real subject of work is the worker. This casts specific light on the ethical issues analyzed, including effects on employment, wages and inequality, human quality treatment, relational aspects, safety and health, surveillance on employees, and meaningful work.     

Managerial risk-taking incentives and the systemic risk of financial institutions

Review of Quantitative Finance and Accounting - This paper examines whether the systemic risk of financial institutions is associated with the risk-taking incentives generated by executive...     

The development trinity: How regional integration impacts growth,inequality and poverty

Developing countries today have become more active participants in regional trade agreements. This raises questions about how the benefits of integration are distributed, and the extent to which lower‐income countries are able to capture development gains. Historically, such impacts have been difficult to identify with precision. This paper seeks to address this gap by empirically analysing the impact of regional integration on development, particularly the effects on growth and welfare. Using both bilateral and regional integration measures, we show that the ability to capture gains from integration varies across developing country regional groups, with developing Asia benefiting on par with developed countries. The findings in the paper indicate that trade and trade policy play an important role in reducing inequality and poverty in developing countries. It also shows that regionalism can function as a channel to make multilateralism a more adept way of addressing national challenges.