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Item type:Publication, The Role of Loan Supply Shocks in Pacific Alliance Countries: A TVP-VAR-SV Approach(Pontificia Universidad Católica del Peru. Departamento de Economía, 2018-11)This paper analyzes the e§ect of loan supply shocks on the real economic activity of PaciÖc Alliance countries. The econometric approach is a Time-Varying Parameter VAR with Stochastic Volatility (TVP-VAR-SV), which is identiÖed by sign restrictions. Results of a trace test, t-tests and the Kolmogorov-Smirnov test reveal the existence of signiÖcant changes in the distribution of parameters over time, which supports the use of time-varying parameters. The results indicate that loan supply shocks have an important impact on real economic activity in all PaciÖc Alliance countries: about 1% in Colombia, Mexico, and Peru, and about 0.5% in Chile. Moreover, loan supply shocks have a considerable role in driving business cycle áuctuations, not only in crisis periods, but also in stability periods. Their contribution to GDP growth is higher than that of aggregate supply shocks and as high as that of aggregate demand and monetary policy shocks. The evolution of the impact of loan supply shocks on real economic activity shows evidence of cross-country heterogeneity, reáecting di§erent Önancial structures among PaciÖc Alliance countries. Furthermore, by assessing the e§ects on di§erent measures of economic activity, it is estimated that loan supply shocks have a higher impact on domestic demand, while the impact is similar when the model is estimated for non-primary activities. Finally, the sensitivity analysis indicates that the results of the model are robust to di§erent priors speciÖcations, to di§erent measures of external variables, and to multiple sets of sign restrictions. Moreover, by applying an agnostic identiÖcation, the results indicate that even letting the response of GDP unrestricted, its response to loan supply shocks remains positive and signiÖcant. With this multiple speciÖcation, the impact of loan supply shocks on GDP growth ranges between 0.8% and 1.2% in Peru and Colombia, and between 0.5% and 0.8% in Chile. These results are close to the baseline estimation and show robustness. Regarding Mexico, it is estimated that the impact of loan supply shocks varies between 0.8%-3.5%. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Premio 2021: Integración y Buena Vecindad Chile-Perú / Perú-Chile(Pontificia Universidad Católica del Perú. Instituto de Estudios Internacionales (IDEI), 2022)La publicación que en esta oportunidad se ofrece a la comunidad académica y al público en general es resultado de una de las iniciativas más valiosas del Proyecto Generación de Diálogo Chile Perú/Perú- Chile, que desarrollan hace ya once años el Instituto de Estudios Internacionales (IDEI) de la Pontificia Universidad Católica del Perú y el Instituto de Estudios Internacionales de la Universidad de Chile (IEI), con el valioso apoyo de la Fundación Konrad Adenauer (KAS). A lo largo de estos años, son diversas las contribuciones hechas por este grupo para la construcción de una nueva relación entre ambos países, basada en la confianza y el mutuo entendimiento. Como parte de este esfuerzo, hace cinco años se viene realizando un programa de pasantías, que permite a jóvenes chilenos y peruanos viajar al otro país para profundizar en algún área específica de la relación bilateral como también para conocer al otro, estimulando el encuentro entre investigadores convencidos de la necesidad de consolidar una relación mutuamente beneficiosa. Resultado de esta pasantía de investigación, se lleva a cabo un concurso en cada país, donde se seleccionan los mejores trabajos para ser publicados, los mismos que componen este volumen y que reflejan aproximaciones desde perspectivas muy diversas a temas vitales para la relación bilateral. Así tenemos los estudios ganadores: “Oportunidades de una alianza estratégica entre el Perú y Chile en torno al hidrógeno verde” de Cinthya Arhuata, “Análisis comparativo de los mecanismos de participación ciudadana en la Administración Local de Chile y Perú: lecciones para robustecer la democracia” de Vannesa Retamal Gutiérrez, “Incorporación de la perspectiva de género en las políticas de reactivación económica post COVID-19: Casos de Perú y Chile” de Tomás Rogaler Wilson, “Retorno a casa: La cooperación para la restitución de bienes culturales entre Chile y el Perú” de David Sánchez Velásquez, “E-COMMERCE y los retos de la protección al consumidor peruano y chileno” de Ralph Sánchez Yaringaño, y “Cooperación chileno-peruana entre agencias de protección a la libre competencia: Una herramienta clave para la persecución de la colusión internacional” de Carolina Serrano Herrera. Para las instituciones involucradas en el Proyecto Generación de Diálogo es vital la apertura de espacios a las nuevas generaciones que pueden representar un salto cualitativo hacia la construcción de nuevas dinámicas, con una visión prospectiva de la relación entre Chile y Perú. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Closing the gap in the municipal solid waste management between metropolitan and regional cities from developing countries: a life cycle assessment approach(Elsevier, 2021-04-01)Municipal solid waste (MSW) management is an important challenge in developing and emerging countries, where two realities co-exist. On the one hand, their metropolitan cities exhibit an integrated MSW system with a specialized fleet for the collection and landfills for the final disposal, concentrating on environmental initiatives such as municipal recycling programs. On the other hand, their regional cities show an MSW system based on adapted transports for collection and open dumps for final disposal. Besides, they face other environmental problems due to local conditions. This research proposes a life cycle assessment (LCA) approach to close the gap between these two realities. In particular, we study the city of Valdivia (Chile), one of the main regional capitals of South America, which shares similarities with other southern regional cities in the Global South. This city disposes 95% of its MSW in open dumps and presents one of the highest environmental pollution rates in Latin America. We analyze the greenhouse gas (GHG) emissions and energy performance of six scenarios, seeking a solution for these problems. The results obtained show that a waste-to-energy scenario would generate savings of GHG emission and particulate matter, reaching 11.3% and 21.8%, respectively. Using our LCA approach, we can provide environmental evidence to highlight the importance of improving MSW management in regional cities, closing the gap with MSW management in metropolitan cities, and contributing to national targets such as United Nations Sustainable Development Goals and Nationally-Determined Contributions. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Ecosystem services provided by kelp forests of the Humboldt Current System: A comprehensive review(Multidisciplinary Digital Publishing Institute (MDPI), 2022-12-01)Marine ecosystems such as kelp are gaining recognition for providing ecosystem services (ES) along the coastal regions worldwide. Here, we synthesize information from the last four decades of research on the structure, functioning and threats of kelp forests, and the ES they provide in the Humboldt Current System (HCS) where information is scarce. The SALSA (Search, Appraisal, Synthesis and Analysis) framework was used for the literature survey and review. From 86 selected articles, only 4 directly discussed kelp ES in Chile. Supporting services-related articles were the most prevalent (n = 59), followed by provisioning (n = 19), regulating (n = 3) and cultural services (n = 1). ES-related research was mostly conducted in Chile (n = 77). Studies in Peru (n = 5), and in Chile and Peru at same time (n = 4) were scarce. Our search also showed that Lessonia trabeculata presented the highest number of associated taxa (n = 213), followed closely by M. pyrifera (n = 210). However, the number of phyla reported was higher in M. pyrifera (n = 17) than in the Lessonia species (n = 7–13). Natural and anthropic impacts on the biodiversity of kelp forests using novel technologies would facilitate the quantitative study and economic valuations of the services provided by these ecosystems at the Humboldt Current System. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Indian chiefs and colonial agents in the mission of San Pablo de Río Bueno (1777-1820): Expansion, conflict, and negotiation(Universidad Catolica del Norte, 2022-01-01)Beginning with From the analysis of the baptism and marriage records of Indians from the San Pablo of Río Bueno mission, the social relations contracted by Indian chiefs and officials are studied. The hegemony achieved by Indian officials in establishing social and political ties with the indigenous people of the Llanos de Río Bueno and the integration of several caciques from the jurisdiction of Valdivia and Osorno cities into the colonial order is highlighted. All this in a context of expansion and settlement of colonial power, where, although the construction of agreements with the indigenous authorities prevailed, it was war that consolidated in 1792 and 1793 almost half a century of Hispanic expansion on the Forntera de Arriba or “upper borderland” of the Kingdom of Chile. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Female entrepreneurship: Evidence-based high-impact perspective from Chile and Peru(Universidad Icesi, 2022-01-01)This study aims to highlight cases of women-led business (WLB) that achieved high-growth in the short term, contradicting the traditional approach of female entrepreneurship associated with precariousness. This paper uses a multiple case study, exploring examples of WLBs in Chile and Peru. The results show some entrepreneurial behavior patterns among WLBs, such as experience in the field, growth-oriented strategy, service innovation, accelerated expansion, high-quality products, and a particular attitude toward entrepreneurship. This study shed additional light on how some WLBs are not linked to subsistence or low-impact, as well as how public policies must support high-growth WLBs. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Urban wetland losses and land-use conservation challenges in three Latin American cities(Springer, 2024-01-01)Wetlands are valuable and threatened ecosystems throughout the world. They are essential for the maintenance of life and ecological balance, in addition to providing a larger number of benefits to human societies. Wetlands reduce the risk of flooding by regulating the flow of water, being essential to reduce the impacts of climate change, especially along the coasts and coastal cities of the world. Urban growth poses a risk to wetlands in and around urban areas. In this work, we quantify the loss trends of wetlands in urban areas in three Latin American countries between the years 2002 and 2019. We selected as case studies the wetlands of Aconcagua in Chile, Ciénaga de Mallorquín in Colombia, and Pantanos de Villa in Peru. Through multitemporal analysis of Quickbird satellite imagery collections, we classify land covers at 2.5-m resolution and identify areas covered by wetland. We quantify the losses and gains of the wetland areas and the areas surrounding them. We found that the three wetlands analyzed lost area, confirming the worldwide trend of loss. The Ciénaga de Mallorquín wetland was the one that decreased the most due to coastal dynamics and urbanization. The Pantanos de Villa wetland reduced its area due to the increase in urban areas that grew filling the wetland under the pressure of informal settlements and beach condominiums. Lastly, the Aconcagua wetland was reduced due to the increase in grasslands together with the increase in bare soil, also affecting the beaches and dunes. In all three case studies, urban wetlands decreased due to urban growth. For this reason, we call attention to the urgency of improving urban planning to ensure the maintenance of these key ecosystems to ensure more sustainable and resilient cities, as proposed by Sustainable Development Goal 11. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Relationship Between Dividend Payout and Economic Policy Uncertainty (EPU), Ownership Concentration and Free Cash Flow in Chile(Taylor and Francis Ltd., 2023-01-01)This study examines how the dividend payout of Chilean firms is associated with economic policy uncertainty (EPU), while controlling for ownership concentration and free cash flow, to consider agency problems. Its contribution is twofold. First, it detects a non-linear, U-shaped relation between EPU and dividend payout, which is a novel finding. Second, this result holds only in cases of high EPU. No significant relationship in cases of low EPU was detected. The sample comprises an unbalanced panel data of 1034 observations from 2005 to 2016. Including ownership concentration as an independent variable leads to a negative association between it and dividend payout, showing a potential agency problem between the main shareholder and the minorities. If free cash flow is considered in the model, then the results show a positive relation between free cash flow and dividend payout, which implies the mitigation of the agency problem. Finally, once both variables (ownership concentration and free cash flow) are considered together as explanatory variables, only free cash flow turns out to be statistically significant and positively associated with dividend payout. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Honoring Jeanne Baret: Baretia lanata Timaná, comb. nov. (Caryophyllaceae), a New Endemic Genus and Species Combination for the Flora of Chile(Museum National d'Histoire Naturelle, 2023-12-11)Baretia Timaná, gen. nov., a new genus in the plant family Caryophyllaceae from central Chile, is proposed and described. The new monospecific genus differs from other members in the family by possessing a combination of characters that include dioecy, a densely albo-lanuginose indumentum cover, absence of stipules, strongly perigynous flower, a well-developed receptacular cup, style undivided with a slightly capitate stigma, and an indehiscent, one-seeded fruit. The genus includes a single species, Baretia lanosa (Phil.) Timaná, comb. nov. and honors French botanist and explorer Jeanne Baret, the first known woman to circumnavigate the globe as part of the Bougainville expedition around the world (1766-1769). - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Family vs. Non-Family Networks: Chile, Mexico and Peru(Emerald Publishing, 2023-08-04)The purpose of this study is to analyze interlocking directorate (ID) networks of family and nonfamily firms (FFs) in Chile, Mexico and Peru. Design/methodology/approach: Social network analysis methodology allowed us to analyze the position of FFs within the structure of IDs at the local and transnational levels. Findings: FFs tend to have a higher proportion of board interlocks to other firms, especially FFs. In addition, FFs are more likely to occupy a brokerage position in national IDs structures. Finally, they also have a higher proportion of interlocks to other domestic firms in and nearby geographic areas. Thus, they create transnational networks. Originality/value: This paper finds evidence that supports three of the premises of interorganizational familiness literature (Lester and Cannella, 2006). FFs are part of national as well as international corporate networks more than other types of firms, through interlocking directorships.