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Imagen de apoyo de  Efficiency implementation in the construction of active portfolios: an assessment through the fundamental law of active management

Efficiency implementation in the construction of active portfolios: an assessment through the fundamental law of active management

Por: Fredy Alexánder Pulga Vivas | Fecha: 2012

Active portfolio management aims to deliver superior returns through using an extensive analysis of securities in order to identify mispriced stocks and estimate alphas. Moreover, an active strategy relies on the capability of the active manager to transform his/her forecasting skills into an active portfolio. This thesis assesses the effects of investment constraints in the ex ante capabilities of an active manager to construct portfolios through the fundamental law of active management, and provides evidence on the efficiency loss of the manager in presence of such constraints through a Monte Carlo simulation. 
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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Imagen de apoyo de  The Failure of U.S. policies in Latin America: From The War on Drugs to The War on Terror = El fracaso de las políticas de los Estados Unidos en América Latina:de la guerra contra las drogas a la guerra contra el terrorismo

The Failure of U.S. policies in Latin America: From The War on Drugs to The War on Terror = El fracaso de las políticas de los Estados Unidos en América Latina:de la guerra contra las drogas a la guerra contra el terrorismo

Por: Luz Andrea Granados Castillo | Fecha: 2009

Since the 70s when cocaine consumption first took off in the US, this country has been fighting in Latin America the supply-side ‘war on drugs’ which was placed mainly in Colombia since the 90s, the only country in the region that has an additional component to the drugs problem, guerrillas and paramilitaries, both who use the drug trade to fuel a protracted conflict. The US fashioned under Clinton’s administration the controversial anti-drug strategy known as 'Plan Colombia' a policy that made Colombia the 3rd largest recipient of military aid in the world after Israel and Egypt until the Afghanistan and Iraq era; however after 9/11 the strategy took a different course from a war against drugs to a war against terrorism, significantly increasing the military counter-insurgency component of Plan Colombia, deepening the US dependence in the country and isolating it from the rest of Latin America. The results after 40 decades of US investment and intervention are questionable since the policies have proven to be a failure as they have not reached the expected results and have worsened the problems they tried to tackle. In a nutshell, the US anti-narcotics policy in Latin America has been a failure since after 40 decades and billions of dollars invested, it has not helped to curb production, trafficking and demand; but it has undermined the democracy and triggered conflict in countries where drugs are produced; the case of Colombia exemplifies this ‘war system’ where the ‘war on drugs’ shifted to ‘war on terrorism’ under the framework of the US strategy.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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The Failure of U.S. policies in Latin America: From The War on Drugs to The War on Terror = El fracaso de las políticas de los Estados Unidos en América Latina:de la guerra contra las drogas a la guerra contra el terrorismo

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Imagen de apoyo de  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

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

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.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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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  The efficiency of education expenditure in Latin America and lessons for Colombia = Eficiencia del gasto público en educación en Latinoamérica y lecciones para Colombia

The efficiency of education expenditure in Latin America and lessons for Colombia = Eficiencia del gasto público en educación en Latinoamérica y lecciones para Colombia

Por: Andrés Felipe Salazar | Fecha: 2011

This paper appraises quantitatively the efficiency of public expenditure of 15 Latin American countries using cross-country data for averages between 2000 to 2009. For this purpose two non-parametric methods are used: Data Envelopment Analysis (DEA) and Free Disposal Hull (FDH). Selected output indicators in primary and secondary school are evaluated respect to public spending in education per student. As a study case, Colombia´s efficiency scores are compared with the most efficient peers in each of the educational levels to identify best practices and achieve better results.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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The efficiency of education expenditure in Latin America and lessons for Colombia = Eficiencia del gasto público en educación en Latinoamérica y lecciones para Colombia

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Imagen de apoyo de  A Consumers Mind: Luxury Desire. Analysis of the social context and behavior in the luxury fashion market = En la mente del consumidor: Deseo de opulencia. Análisis del contexto social y el comportamiento del consumidor en la industria de la moda de lujo

A Consumers Mind: Luxury Desire. Analysis of the social context and behavior in the luxury fashion market = En la mente del consumidor: Deseo de opulencia. Análisis del contexto social y el comportamiento del consumidor en la industria de la moda de lujo

Por: Lina Lorena Clavijo Rodríguez | Fecha: 2015

The purpose of this research is to present an analysis about the psychology of the luxury fashion consumer, to understand the different kinds of motivations that influence behaviour towards the purchase of luxury items. Through the exploration of theoretical approaches from both, the consumer psychology and the social culture theory, it will be explained how consumers face different kinds of needs and how they try to satisfy them in the luxury marketplace. Some of these needs will have an origin in intrinsic desires, while others will respond to affiliation needs for fitting into a certain social environment. Among the study of the cultural motivations, it will be shown how advertising plays a fundamental role of perception of luxury fashion. A selection of two case of studies of two of the most important luxury brands in the world, will illustrate how the industry uses the media communicate to the consumer the values of luxury brands, while associates to cultural representations of social success.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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A Consumers Mind: Luxury Desire. Analysis of the social context and behavior in the luxury fashion market = En la mente del consumidor: Deseo de opulencia. Análisis del contexto social y el comportamiento del consumidor en la industria de la moda de lujo

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Imagen de apoyo de  A drop of hope in an ocean of impunity: An analysis from the Memory Studies of the Parque Monumento in Trujillo, Colombia = Una gota de esperanza en un mar de impunidad: Un análisis desde los estudios de memoria del Parque Monumento en Trujillo, Colombia

A drop of hope in an ocean of impunity: An analysis from the Memory Studies of the Parque Monumento in Trujillo, Colombia = Una gota de esperanza en un mar de impunidad: Un análisis desde los estudios de memoria del Parque Monumento en Trujillo, Colombia

Por: Andrés Guillermo Chaur Romero | Fecha: 2014

This work constitutes an inquiry into the field of memory studies. Through the presentation and the analysis of a particular case study I will provide an insight to some approaches to address the field. To begin with a general background of the case study will be presented to fully understand its social, historical and cultural connotation, and then I introduce the dynamic of how this work will be developed from this point. Finally this research concludes with some recommendations about the concepts previously developed.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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A drop of hope in an ocean of impunity: An analysis from the Memory Studies of the Parque Monumento in Trujillo, Colombia = Una gota de esperanza en un mar de impunidad: Un análisis desde los estudios de memoria del Parque Monumento en Trujillo, Colombia

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Imagen de apoyo de  When titles do not become loans: property rights and slums upgrading in Bogota, Colombia

When titles do not become loans: property rights and slums upgrading in Bogota, Colombia

Por: Alexander Niño Ruiz | Fecha: 2006

Contrary to the conventional orthodoxy of the World Bank, lack of formalized or secured property rights is not the main reason why titles do not become loans in Colombia. My research shows that the institutional barriers that prevent poor people from leveraging their assets are rooted in the Colombian constitution, and in the lack of private financial institutions willing to lend to the poor. Low and middle income populations cannot use their houses as collateral to obtain loans aimed to finance business because the Colombian constitution mandates families to secure a share of their assets as Family Wealth. As a result, families have to protect their estate from being impounded by lenders. When the law allows the use of the house as collateral— for financing the purchase, improvement or enlargement of housing — there are few formal financial institutions lending to the poor. Despite of the importance of this for land-titling programs, it passed unnoticed by the World Bank, who approved a US$100 million loan for the Bogotá Urban Service Project in 2003. This thesis reveals the assumptions made by the Bank regarding the importance of property formalization as a mechanism to create massive equity out of the improved real estate in the informal sector. It contrasts the Bank’s assumptions with the actual process of upgrading in Bogotá. Leveraging poor people’s assets would be critical to the well-functioning of upgrading program, but these policies should rely on a mechanism other than the willingness of formal institutions to lend to the poor.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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When titles do not become loans: property rights and slums upgrading in Bogota, Colombia

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Imagen de apoyo de  Production of subjectivity, neoliberalism, public spaces. Social imaginary significations of public transport in Bogotá

Production of subjectivity, neoliberalism, public spaces. Social imaginary significations of public transport in Bogotá

Por: Johanna Burbano Valente | Fecha: 2012

Esta investigación aborda el tema de las significaciones imaginarias sociales en los espacios públicos, específicamente en el servicio de transporte colectivo de pasajeros en la ciudad de Bogotá (Colombia). Realiza articulaciones entre los procesos socio-históricos, las significaciones, las ciudadanías y las subjetividades. Se ancla teóricamente en la propuesta de campos de problemas de la subjetividad desarrollada por Ana María Fernández y equipo, al igual que su apuesta metodológica: la problematización recursiva. Sus principales hallazgos se centran en las insistencias de sentido relacionadas con estrategias de supervivencia de los grupos desigualados a través de pactos de complicidad; una desinstitucionalización, degradación y homogenización de lo público y pocas condiciones para la construcción de ciudadanías. En las prácticas se encontró una forma vincular bimodal.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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Production of subjectivity, neoliberalism, public spaces. Social imaginary significations of public transport in Bogotá

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Imagen de apoyo de  Success factors for venture funding = Factores de éxito para la financiación de nuevas empresas

Success factors for venture funding = Factores de éxito para la financiación de nuevas empresas

Por: Angélica María Flórez Mora | Fecha: 2013

Within a competitive environment, where entrepreneurs need to obtain funds, there is a need to understand the factors that could make the difference. Entrepreneurs in the technology sector In the South West of the UK and in Colombia were analyzed.  The first criteria must be to have access to sources of funds and approach the one that better fits the ventures characteristics. The study shows that equity and grants are the most suitable sources for ventures in the early stages. The multi-method quantitative approach selected included giving surveys to tech-entrepreneurs, 29 in the UK and 35 in Colombia; 2 structured interviews with investors and 16 structured observations of investment panels. The main characteristics identified could be grouped into three categories: the entrepreneur, the product and the market. Those should be supported by an appropriate network, business plan and advisers. However, with all the investment proposals revised by investors, the proposals finally selected are the ones that have a good balance among all the elements. And the experience of the investor, his knowledge and the negotiation with the entrepreneur are what define the value of the venture. Finally, it was shown that there is a need for advisers in Colombia to prepare current entrepreneurs and make them aware of the critical factors. Given the results, it could be said that the vast knowledge and results of previous studies could be applied to advise entrepreneurs in Colombia.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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Success factors for venture funding = Factores de éxito para la financiación de nuevas empresas

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Imagen de apoyo de  Assessment of the Perceptions and Behaviors Towards Bicycle Integration to the BRT System TransMilenio in Bogotá, Colombia

Assessment of the Perceptions and Behaviors Towards Bicycle Integration to the BRT System TransMilenio in Bogotá, Colombia

Por: María Alejandra Pabón Renjifo | Fecha: 2016

Understanding and solving transportation issues is a pressing need for governments in Latin America and the Caribbean region. An increasing number of private vehicles, chronically deficient public transport systems, and a lack of infrastructure that guarantees the safety of non-motorized transport users characterize most of the major urban centers in this region, including Bogotá. – capital of Colombia –, the city in which the present study is focused. As a result, there is the emergence of economic, social and environmental problems including congestion, loss of time, informality, inequality, growing greenhouse gas emissions and pollution, public health problems, etc. An approach that can greatly contribute to solving Bogot.’s dire transport situation is the combination of bicycle and public transport use. This approach can have a substantial impact in people’s mobility, motivate a shift in mindset that can potentially lead to a car-free lifestyle, and improve the overall system’s sustainability. These outcomes have been evidenced not only in developed cities like Munich but also in other cities within Colombia like Medellín.  The overarching goal of the present study is to reveal the attitude of Bogot. residents towards cycle-transit integration, gather insights from existing cycle-transit users, and formulate strategies to address the system’s structural deficiencies.The study includes an extensive review of existing literature on accessibility to public transport and the concept of cycle-transit integration, commonly known as bike-and-ride, as well as a description of the current mobility situation in Bogotá. This is combined with face-to-face and online surveys to determine cycle-transit users’ demographic profile and trip characteristics, understand their perception of the current system’s performance and issues, and identify how they prioritize measures aimed at improving the whole cycle-transit integration. The combination of a deep-dive in cycle-transit integration theory and first-hand verification and understanding of the reality faced by cycle-?transit users in Bogot. leads to the development of a set of specific recommendations organized in a three-step course of action: i) incentives ii) soft measures iii) physical infrastructure enhancements. The study finalizes with an outline of the actions that should follow this thesis.
Fuente: Biblioteca Virtual Banco de la República Formatos de contenido: Tesis
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Assessment of the Perceptions and Behaviors Towards Bicycle Integration to the BRT System TransMilenio in Bogotá, Colombia

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