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Imagen de referencia de Placeres literarios y gustos diversos

Placeres literarios y gustos diversos

Esta colección de obras y autores del PPP Esperanza, es una selección atemporal y heterogénea que puede interesar a todo público por ser obras inmortales.

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Imagen de apoyo de  El gran Gatsby

El gran Gatsby

Por: Mario Alexander Reina Carrillo | Fecha: 2015

Does Foreign Direct Investment (FDI) have a positive effect on economic growth in recipient countries? The debate about the positive impact of FDI on economic growth remains open, and therefore the formulation of economic policy in developing regions such as Latin America and the Caribbean is still a dilemma between to adopting policies that support economic openness or implementing policies aimed at promoting the protection of domestic markets. However, in recent years Latin America has been leaning towards policies that promote FDI inflows so as to stimulate market growth and to increase the competitiveness in different branches of economic activity. From this argument, the following thesis investigates the impact of FDI on the growth of Latin American developing economies by presenting an econometric analysis through the application of an OLS pooled panel data analysis for 19 Latin American countries between 1980 and 2010. The result of the research aims to test the hypothesis that establishes a positive relation between FDI inflows and economic growth. To do so, the relation FDI-growth is examined by the use of different control variables related with macroeconomic stability, trade openness, political stability, per capita GDP, and secondary schooling. The results of this research reveal a positive effect of FDI on the economic growth rate of the countries taken in the sample of the study.
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  • Economía

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The incidence of Foreign Direct Investment in Latin American economic growth: An econometric analysis = La incidencia de la Inversión extranjera directa en el crecimiento económico Latinoamericano: Un análisis econométrico

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Imagen de apoyo de  El libro de las brujas

El libro de las brujas

Por: Catalina Martínez Muñoz | Fecha: 2013

The aim of this article is to investigate the determinants of the foreign direct investment (FDI) in some European countries from 2003 to 2010. This period is interesting because it was characterized by huge investments of capital before 2008 and after this date a cooling of the economy due the subprime mortgage implosion. Panel Data of 23 European countries were analyzed among the several FDI macroeconomic triggers proposed by the UNCTAD in the United Nations Conference For Trade and Development report of 2012. Our empirical results are consistent with the objectives of the UNCTAD model. The FDI has become in a very important goal for all the countries because it has positive spillovers that act as boosters for the growing of their economies. Within the positive effects we highlight the transferring of technology to domestic firms, the creation of new and better jobs, the increasing in the number of tax payers and, besides, these investments are a clean source of income with the benefit of not assuming the risk linked to the debt. Consequently, the governments have the need and the duty to promote policies for attracting FDI. If we analyze the case of Europe, one can differentiate three groups of development and several kind of challenges, i.e., the high unemployment rates that some Mediterranean countries are facing, the adverse selection problem that hinders the credit flow across the productive value chain and the migration of the manufacturing to developing countries. Hence nowadays the understanding of the factors determining the FDI is a key issue to link the policy making with the potential investors.
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Determinants of FDI in the EU: empirical evidence using panel data = Determinantes de la IED en la UE: evidencia empírica usando datos de panel

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Imagen de apoyo de  The use of derivatives and the cost of equity: Evidence from UK MNE’s = El uso de derivados y el costo de capital: Evidencia de empresas multinacionales en el Reino Unido

The use of derivatives and the cost of equity: Evidence from UK MNE’s = El uso de derivados y el costo de capital: Evidencia de empresas multinacionales en el Reino Unido

Por: María Ximena Caicedo Montana | Fecha: 2014

This paper studies the hedging activities of 104 non-financial UK MNEs from 2005 to 2009 to examine their potential effect on the cost of equity. We use the Fama and French Three Factor Model to estimate the cost of equity and we collect detailed information on hedging and risk management activities directly from the annual reports. Although we evidence a negative relation between the cost of equity and hedging activities, we find that the cost of equity is not significantly affected by whether firms are hedgers or non-hedgers. We further use different subsamples and we are able to observe that: (i) size and leverage are important factors in the analysis of hedging and cost of equity, and (ii) the financial crisis plays an active role in the way firms understand and react towards unexpected volatility and risk. Finally we find that controlling for endogeneity of the hedging decision and for potential sample selection bias our results are more robust and are supporting evidence for the negative and significant relationship between hedging and cost of equity.
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  • Economía

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The use of derivatives and the cost of equity: Evidence from UK MNE’s = El uso de derivados y el costo de capital: Evidencia de empresas multinacionales en el Reino Unido

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Representación dirijida al Congreso de la Nueva Granada por los apoderados de los acreedores estranjeros de la antigua república de Colombia

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