Academic Linkages in Latin America:

SUMMARY. This paper reports results of a suryey on perception on industry/acadernia cooperatwe linkages, in particular, partner selection and managerial expectations from such partnership, and also potential diffculties involved in developing mtemgamzational alliances. The swey, conducted in Latin America, shows that intemational sbategic alliances are considered as a viable approach for academia to develop progrm leading to joint research, human resources exchange, and academic exchange, while for industry the cooperation represents the opportunity to build competitive advantage especially in domestic markets. However. the results also suggest that a number of obstacles need to be overcome.     

Cost of doing business index in Latin America

Quality & Quantity - The World Bank's Ease of Doing Business Index (EDBI) has been widely used in analyzes of attracting investments and formulating public policies. Despite its importance...     

Urban class conflict in Africa and Latin America

Cet article adopte une perspective mondiale sur la base des travaux d'Amin, Frank et Wallerstein pour comparer les aspects de la lutte des classes urbaines en Afrique et en Amérique Latine. Le développement de pays spécifiques (Mexique et Nigéria) est décrit, avec une discussion plus détaillée des villes de Monterrey et de Kano. L'analyse est faite sur une base historique et cherche à établir que la nature de la lutte des classes urbaines s'explique dans une grande mesure par la façon dont une région est incorporée à l'économic mondiale. Les changements de relations entre les états semi-périphériques et une capitale multinationale située dans un état-noyau peuvent s'opérer avec succès de point de vue de ce dernier, mais ils entraǐnent une intensification de la lutte des classes qui gomme les avantages gagnés par les classes locales alliées ainsi à la capitale.     

History Repeats Itself: Child Labor in Latin America

Child labor occurs on almost every continent in the world. Very few countries seem to escape this exploitative phase as they develop into fully industrialized countries. Child labor began during the eighteenth century in Great Britain and it continues in the twenty-first century in Argentina, Mexico, Brazil, Chile, Guatemala, Costa Rica and Honduras. This paper offers an explanation for the persistence of child labor through history. The increase in the employment of children during industrialization is caused by an increase in the supply of children from poor and working-class families and an increase in the demand for child labor by the factory owners. Parents trapped in poverty have no other choice but to send their children off to work to contribute to the family income. Children’s wages, moreover, often make the difference between starvation and survival. Employers are happy to oblige the parents because children are more productive than adults in the new industrial regimen. As the principle of the division of labor has been applied to the production process, unskilled children replace skilled adults in factories, mills, and mines. Children are preferred to adults because they are cheap, submissive, uneducated and nimble. These economic forces are so strong that neither child labor laws nor mandatory schooling legislation are an effective deterrent against employers or families. Since history is repeating itself in the developing world by industrializing on the backs of children, alternative policies are recommend to cut this stage short so that the future generations of Latin America will become educated instead of exploited.

Longitudinal analysis of entrepreneurship and competitiveness dynamics in Latin America

This study analyzes the relationship between entrepreneurial dynamics in Latin-American countries and the level of competitiveness these countries show. Based on the research conducted by Wennekers et al. [Small Business Economics, 24(3):293–309, 2005] that demonstrates a U-shaped relationship between the country’s rate of entrepreneurship and its level of competitiveness and economic development, we hypothesize that Latin-American countries have a descending behaviour under the U-shaped curve approach. The results from three regression models support this hypothesis and suggest that competitiveness and economic growth deter entrepreneurial dynamics on Latin-American countries. We discuss that Latin-American countries need to improve some structural factors to achieve a high level of entrepreneurial dynamics.

The Emerging Role of the State In Latin America

The article is designed to (a) provide a theoretical framework for analyzing reforms in the role of the state; (b) assess the Latin America experience in improving the efficiency and effectiveness of core government functions at all levels of government (e.g. human resource management, financial management, tax and customs administration and cross-sectoral service delivery though excluding a detailed treatment of sector-specific areas such as education and health); and (c) examine the experience to date in Latin America of successfully implementing institutional reforms with respect to (i) private sector development (legal reforms to facilitate private transactions as well as provide a regulatory role for government in the face of market failures and their enforcement) and (ii) poverty alleviation particularly with respect to reforms in the social security system as well as the introduction of social investment funds.     

Quantitative analysis of the implementation of educational plans in Latin America

In this paper an index of plan implementation is defined and applied to the 1960–1970 educational plans of Latin American countries. Statistical analysis is used to specify the determinants of the values of the index. It is shown that a lack of statistical data and of qualified personnel are the main reasons for insufficient plan implementation.     

全国四十九位企业家当选为2003年度中国创业企业家

经过中国企业联合会、中国企业家协会(以下简称“中国企联”)副会长、常务理事、理事,各省、自治区、直辖市和重点城市企联(企协)、企业家协会会长、秘书长,各全国性企业团体会长、秘书长投票推选,中国企联理事长办公会审定,丁玉华等49人当选为2003年度中国创业企业家。其中上海有三位企业家胡茂元、郭广昌、蒋志权当选。名单如下:(以姓氏笔划为序)     

Savings and investment rates in Latin America: An error correction analysis

Using savings and investment rates from fifteen Latin and Central American countries, this study explores the possibility of a long-run relationship between saving and investment. The analysis consists of regressions unit root tests, and an error correction model developed by Jansen and Schulze (1996) and Jansen (1996). Of the 15 countries, there is evidence to substantiate capital mobility in 13 countries. For Chile and Uruguay, countries that have experienced considerable capital controls, evidence indicates the lack of capital mobility for these two countries.     

Quantifying the relationship between entrepreneurship and competitiveness development stages in Latin America

This research aims to quantify the importance of a country??s entrepreneurship level in terms of its competitiveness rates. Our hypothesis is that those countries entrepreneurship growth rates increase their competitiveness indicators and that this entrepreneurial improvement could be a key factor in reaching the next stage of development. We establish this relationship using a longitudinal database of Latin American countries that participated in the Global Entrepreneurship Monitor (GEM) and the Global Competitiveness Reports of the World Economic Forum (WEF) from 2001 to 2006. GEM and WEF construct aggregated indexes using several variables to rate each country??s entrepreneurship activity and competitiveness development. We use a discriminant analysis to identify various countries?? competitiveness subgroups and show how each country??s entrepreneurship rates have weight in different stages of competitiveness, placing a special emphasis on Latin America. Our results suggest that Latin American countries need to gain entrepreneurial dynamics and economic (and competitiveness) development by transforming their typical self-employment or low value-added new ventures for local markets into strong, innovative networked firms competing globally. Some management and policy implications are also discussed.     

Fertility and female labor supply in Latin America: New causal evidence

We study the effect of fertility on maternal labor supply in Argentina and Mexico exploiting a source of exogenous variability in family size first introduced by Angrist and Evans [Angrist, J., Evans, W., 1998. Children and their parents' labor supply: evidence from exogenous variation in family size. American Economic Review 88 (3), 450–577] for the United States. We find that the estimates for the US can be generalized both qualitatively and quantitatively to the populations of two developing countries where, compared to the US, fertility is known to be higher, female education levels are much lower and there are fewer formal facilities for childcare.     

An Analysis of the Correlates,of US Foreign Direct Investment in Latin America

Abstract

Utilizing the most recent data available from a variety of sources, a spreadsheet has been constructed that displays statistical data for nineteen Latin American nations. The compilation of this data array of itself makes an important contribution to the literature. Using step-wise regression, the relative contribution of market related, demographic, cultural, and political variables to US Foreign Direct Investment (FDI) locational decisions are analyzed. The resulting parsimonious model is subsequently validated using 1993 data. The results indicate that the FDI decision is complicated, containing variables of a political, market, and social nature.     

Currency depreciation effects on ADR returns: evidence from Latin America

We use seemingly unrelated regressions (SUR) and multivariate regression models (MVRM) in a panel sample of 74 American depository receipts (ADR) programs from Argentina, Brazil, Chile, and Mexico during the period May 1994 to May 2009 to analyze the behavior of ADR returns during the 300-day period surrounding the currency crises breakdown in the originator??s country. Controlling for the underlying stock and local and host country equity indices, we find that ADRs generate significant negative abnormal returns during currency crises, due to translation exposure. Abnormal returns remain statistically significant even in crises triggered by currency depreciations as small as 3.6%. The results persist after including exchange rate returns as a control variable and after an orthogonalization procedure of exchange rate against local country indices. In agreement with ADR literature, our results show that ADR prices are determined primarily by the underlying stock, exchange rates, and host country index, in that order. Moreover, we observe how market integration has become evident in more recent times as the coefficients for the U.S. stock market have increased its contribution to ADR price discovery.     

Discursive (de)legitimation of a contested Finnish greenfield investment project in Latin America

Despite the central role of legitimacy in corporate social responsibility debate, little is known of subtle meaning-making processes through which social actors attempt to establish or de-establish legitimacy for socially contested corporate undertakings, and through which they, at the same time, struggle to define the proper social role and responsibility of corporations. We investigated these processes in the context of the intense sociopolitical conflict around the Finnish forest industry company Metsä-Botnia's world-scale pulp mill in Uruguay. A critical discursive analysis of Finnish media texts highlights three types of struggle that characterized the media coverage: legalistic argumentation, truth fights, and political battles. Interestingly, this case illustrates how the corporate representatives – with the help of the national media – tend to frame the issue in legalistic terms, emphasize their expert knowledge in technical and environmental evaluations, and distance themselves from political disputes. We argue that similar tendencies are likely to characterize corporate social responsibility debates more generally.     

The impact of ADR activity on stock market liquidity: Evidence from Latin America

This paper examines the impact of ADR activity on liquidity of four major Latin American stock markets. We construct a measure of ADR activity in U.S. markets for a sample of ADRs trading during January 2003–December 2010, which is subsequent to the financial liberalization episodes and currency crises that shocked emerging markets in the 1990s. The sample lists 164 depositary receipt programs (Levels I, II, and III): 16 from Argentina, 81 from Brazil, 19 from Chile, and 48 from Mexico. Using System GMM methods to handle the potential effects from stock market development on economic growth and ADR issuance, we find that higher ADR turnover in U.S. markets has positive effects on domestic market turnover, particularly for issuance of exchange-listed (Levels II and III) ADRs. This positive relationship is not a statistical artifact created by the global financial crisis of 2008.