Suchergebnisse

The article is dealing in the first place with the definition of (offshore) outsourcing in relation with foreign direct investment and international subcontracting process, as well as with some connected issues such as fragmentation of the production process, international production relocation, de-industrialisation in developed countries and industrialisation in newly industrialising, now coined emerging countries. In the second place, it aims at finding how global strategy differentiates from traditional MNC strategies and how much outsourcing fits with such global strategy. The last section of the article briefly screens the economic impact of outsourcing on the world trade structure – with the two enlightening snapshots of global trade in sports goods and European Union 15's outward processing trade with Central Eastern European countries (CEECs)-, as well as on home developed and host emerging countries. The article conclusion is that outsourcing has grown faster than world trade in the past two decades and has skyrocketed during the very last years because it is a cornerstone of a new global strategy adopted by multinational companies since the late 1980s. ; The article is dealing in the first place with the definition of (offshore) outsourcing in relation with foreign direct investment and international subcontracting process, as well as with some connected issues such as fragmentation of the production process, international production relocation, de-industrialisation in developed countries and industrialisation in newly industrialising, now coined emerging countries. In the second place, it aims at finding how global strategy differentiates from traditional MNC strategies and how much outsourcing fits with such global strategy. The last section of the article briefly screens the economic impact of outsourcing on the world trade structure – with the two enlightening snapshots of global trade in sports goods and European Union 15's outward processing trade with Central Eastern European countries (CEECs)-, as well as on home developed and host emerging countries. The article conclusion is that outsourcing has grown faster than world trade in the past two decades and has skyrocketed during the very last years because it is a cornerstone of a new global strategy adopted by multinational companies since the late 1980s.

Este documento analiza la existencia de ciclo político presupuestario en los gobiernos regionales chilenos que, han transferido recursos para las inversiones en infraestructura deportiva a los municipios del país. Tomando como referencia estudios que evidencian la posibilidad de influir en las elecciones cuando se manipula el presupuesto, se construyó un panel de datos desde el año 2007 hasta el año 2018, con los montos de inversiones realizadas y agrupado por municipio, con el objetivo de explorar si en los años de elecciones municipales y presidenciales se destinaron mayores recursos para inversiones. Las estimaciones realizadas indican que, hay presencia de ciclo político presupuestario en las elecciones municipales del año 2008 y en mayor medida en el año 2012. También, se concluye que los alcaldes que están alineados con la misma coalición política del intendente regional, reciben mayores recursos para infraestructura deportiva que los alcaldes no alineados en las elecciones municipales de los años 2008, 2012 y 2016. ; This document analyzes the existence of the political budget cycle in chilean regional governments that, have transferred resources for investments in sports infrastructure to the municipalities of the country. Taking as a reference studies that demonstrate the possibility of influencing the elections when the budget is manipulated, a data panel was built from 2007 to 2018, with the amounts of investments made and grouped by municipality, with the aim of exploring if, in the years of mayors and presidential elections, more resources were allocated for investments. The estimates made indicate that, there is a political budget cycle in the mayors elections of 2008 and to a greater extent in 2012. Also, it is concluded that mayors who are aligned with the same political coalition of the regional mayor, invest greater resources for sports infrastructure than mayors not aligned in the mayors elections of 2008, 2012 and 2016.

El artículo brinda información sobre los flujos de inversión en el mundo y la posición relativa de nuestro país. Bajo este marco y dado que el autor se encuentra prestando servicios en la Embajada Argentina en Japón se realizan consideraciones sobre la IED de Japón en el mundo y en la Argentina. Este trabajo de investigación ha pretendido unificar información y datos sobre la IED a los efectos brindar un enfoque integral a la cuestión . En este marco se realizan consideraciones finales sobre incentivos para la inversión extranjera bajo un marco de fortalecimiento institucional y estabilidad política y económica. ; This article provides information as regards investment fluxes and the relative positioning of our country in this respect. Within this framework and given that the author provides services at the Argentinian Embassy in Japan, considerations are made as regards Direct Foreign Investment of Japan in the world and Argentina. This paper has sought to unify information about DFI in an attempt to offer an integrated view of the matter. In this context final considerations are made as regards incentives to foreign investment within a framework of institutional strengthening and political and economic stability. ; Sección Estudios. ; Instituto de Relaciones Internacionales (IRI)

Recently, digital technologies (blockchain, cyber-physical computing, big data, etc.) have been playing a significant role in the development of the world economy and society. Their rapid implementation changes traditional processes and affects the economic situation, investment climate, and the general development of the state and public services. Such changes affect investment activity, transform economic relations, and, therefore, there is a need to study the prospects for the development of economic and legal support of investment activities in the digital age. The work aims to study investment activities in the digital age. The subject of research is the analysis of patterns and general theoretical aspects of their development. The methodology consists of hermeneutic, system-structural, structural-functional, historical-legal, comparative-legal, and formal-logical methods. As a result of the study, the investment activity in the conditions of digitalization was analyzed through the prism of economic-legal support, and the nuances of the formation of the "digital" gap between developed countries and countries with developing economies.

El objetivo de este artículo es analizar las características de las agencias de promoción de inversión extranjera poniendo el foco en las agencias del ámbito autonómico español, con el fin de entender el papel que desempeñan en la atracción de inversión extranjera directa. El estudio se dirige específicamente a analizar la evolución, estructura, características y organización interna. ; The aim of this paper is to analyse the features of foreign investment promotion agencies focusing on Spanish regional agencies, with the goal of understanding the role they play in the attraction of foreign direct investment. This study aims specifically to analyse the evolution, structure, features and internal organization. ; Economía

The main objective of this explicative research was to determine the effect of trade opening and direct foreign investment on Peruvian economic growth, 2007-2016. This research was developed inside one non-experimental and longitudinal design; The sample was constituted by data related to study variables during the period 2007-2016 and collected from reports prepared by BCRP, INEI and Proinversion; furthermore, it was used a convenience sampling; the validity of regression models was realized through analysis of variance. This research concluded that, in peruvian case, only trade opening affected significatly on growth rate of real GDP per capita during the period 2007-2016 explaining more than fifty percent of its variation. One suggestion as a product of this research is the design of politics that fosters the trade opening through removing barriers and the search for new trade agreements where the national interests prevail over other types of interests. ; La presente investigación tuvo como objetivo principal determinar el efecto de la apertura comercial y la inversión extranjera directa en el crecimiento económico peruano, 2007-2016. Para lograr este objetivo se usó un diseño no experimental, de corte longitudinal y de tipo explicativo; la muestra estuvo conformada por todos los datos relacionadas a las variables de estudio entre el periodo 2007-2016 y que fueron obtenidos del BCRP, el INEI y Pro inversión; además se usó un muestreo por conveniencia; la validez de los modelos de regresión fueron hechas mediante el análisis de varianza. La conclusión a la que se llegó fue que sólo la apertura comercial afectó significativamente sobre la tasa de crecimiento del PBI real per cápita del Perú durante el periodo 2007-2016, además, de explicar más de la mitad de su variación. Se recomienda diseñar nuevas políticas que fomenten la apertura comercial mediante la eliminación de barreras y la búsqueda de nuevos acuerdos comerciales donde los intereses nacionales estén por encima de otros.

Investment Agreements are instruments used by states to attract foreign ventures within their borders and obtain favourable treatment to local investors in counterpart nations. States usually compromise a certain degree of sovereignty in this kind of agreements through the inclusion of legal stability agreements, stabilisation clauses, compensation for expropriation, and fair & equitable treatment provisions. Within the context of this kind of agreements, the legitimate exercise of regulatory powers by states enters in conflict with the protection of foreign investors property rights when it comes to sensitive areas that have a high impact in the public interest, politics and public perception (such as human rights, health, safety, labour standards and the environment). Based on the discussion of two recent paramount cases that involve regulatory actions of the Colombian state and property rights of foreign investors (pharmaceutical ip rights vs public health interests in the first case, consolidated mining titles vs environmental protection in the second case), we identify and criticize the difficulties of defining if a governmental regulatory action is legitimate and non-compensable or if it is subject to compensation as an indirect expropriation, and the high dependence of this matter on the interpretation of arbitral tribunals.

The implementation phase of the plant and commencement of operations of the copper deposit Quellaveco 2015 has entered a relatively critical stage , because , should get the social license. An opponent citizen sector linked to the agricultural sector represented by the board of users Irrigation District Moquegua and leaders of the Front for the Defense of Moquegua and City Council District Torata question the environmental impact study and activities implemented by the company in the area where the site is located. The Regional Government has constituted a roundtable this year with participation of the National Government , Local Government , Civil Society and Mining Company , meetings leading to the making of a political and technical decision to fully resolve this project in terms of development and improvement in the quality of life of the population. On the other hand, the absence of the University in terms of its linked to the set (system) of the mining operation would bring in better targeting of knowledge , experience, research and transparency of these investment professionals is appreciated. ; La fase de ejecución de la planta e inicio de las operaciones del yacimiento cuprífero del proyecto Quellaveco para el año 2015 ha ingresado en una etapa relativamente crítica, por cuanto, debe conseguir la licencia social. Un sector ciudadano opositor vinculado al sector agrario representado por la junta de usuarios del Distrito de Riego de Moquegua y dirigentes del Frente de Defensa de Moquegua y el Concejo Municipal del distrito de Torata cuestionan el estudio de impacto ambiental y actividades implementadas por la empresa en el área donde se ubica el yacimiento. El Gobierno Regional ha constituido una mesa de diálogo en el presente año con participación del Gobierno Nacional, Gobiernos Locales, Sociedad Civil y Empresa Minera, reuniones que conducirán a la toma de una decisión política y técnica de resolver integralmente este Proyecto en términos de desarrollo y mejora en la calidad de vida de la población. Por otro lado, se aprecia la ausencia de la Universidad en términos de sus profesionales vinculados al conjunto (sistema) de la operación minera que aportaría en una mejor canalización de los conocimientos, experiencia, investigaciones y transparencia de estas inversiones.

En los países donde los gobiernos fomentan las "donaciones" o "regalos" por parte de las empresas privadas, éstas tienen más posibilidades de verse implicadas en algún tráfico de influencias, conocido como Capturas Estatales. Es el caso de inversores extranjeros que se ven envueltos en actos de corrupción, dependiendo del coste de oportunidad que tengan que asumir. Si bien es cierto que las empresas multinacionales más potentes son menos proclives a incurrir en la Captura Estatal, éstas son más propensas a caer en la corrupción política y en la compra de favores en sus tratos con los gobiernos anfitriones. Ha habido casos en los inversores extranjeros han hecho público su malestar por chantajes de los que han sido objeto por parte de los gobiernos regionales o locales de los países anfitriones. Por otro lado, muy difícilmente se puede demostrar que las empresas extranjeras pagan "comisiones" (en términos coloquiales se refiere a las mordidas) más elevadas que sus homólogas locales, si bien éstas han mostrado una mayor tendencia a aceptar diversas formas específicas de corrupción. ; In countries where the government encourages "donations" and "gifts" from private companies, FDI firms are more likely than their domestic counterparts to engage in corrupt forms of political influence, known as State Captures. Different types of foreign investors engage in particular types of corruption, depending on what competitive advantage they will get out of it. FDI firms with local partners are more likely to engage in State Capture. Larger multinational firms with headquarters overseas rely much less on State Capture, yet are more likely to resort to political corruption and bribery, Kickbacks, in their dealing with foreign governments. Though quite often, foreign direct investors might claim that they are specifically targeted for bribes by local governments, it has been found that there is no evidence that FDI firms pay higher overall bribes than domestic firms, even though they are more likely to engage in specific forms of corruption.

El acuerdo de paz entre el gobierno de Colombia y el grupo guerrillero de las FARC alcanzado en noviembre de 2016 ha despertado interés académico desde diferentes áreas del conocimiento. Desde la economía, en particular, surgen preguntas acerca de los posibles efectos del acuerdo de paz sobre la productividad, la asignación de factores y el crecimiento económico. Con el objeto de contribuir a la identificación de los efectos económicos de los procesos de paz y de la violencia, en este documento se investiga el efecto de los procesos del Caguán (1999-2002), Santa Fe de Ralito (2003-2006) y de los actos violentos sobre la inversión privada en Colombia. Con este propósito, se analiza la inversión anual bruta en activos fijos de las firmas manufactureras de todo el país en un periodo de tiempo caracterizado por el recrudecimiento del conflicto armado, por un posterior descenso en los niveles de violencia y por dos negociaciones de paz. Los resultados sugieren que: (i) la presencia de las FARC tiene un efecto negativo en la inversión manufacturera, (ii) la presencia de las AUC genera un aumento de la inversión, (iii) las tácticas ofensivas de las FARC generan caídas significativas en la inversión de la industria, (iv) ataques a la propiedad privada llevadas a cabo por las AUC producen reducciones en la inversión y v) ninguno de los dos procesos de paz generó un efecto significativo en la toma de decisiones de inversión. ; The peace process between the Government of Colombia and the FARC has attracted academic interest from different areas of knowledge. In particular, several scholars have studied the possible effects of the peace agreement on productivity, the allocation of factors and economic growth. We contribute to the identification of the economic effects of the peace process by investigating the effect of previous peace processes: Caguán (1999-2002), Santa Fe de Ralito (2003-2006), and some violent acts related to the armed conflict. We analyze yearly gross investment data for manufacturing firms during a period of time characterized by a sharp increase in violence followed by a decrease in violence. The main results suggest that: (i) the presence of the FARC has a negative effect on investment, (ii) the presence of AUC generates an increase in investment, (iii) the offensive tactic of the FARC generates significant falls in investment, (iv) attacks to private property pled led out by AUC produce reductions in investment and v) none of the two process of peace generated a significant effect on investment decisions.

This article comments the most important aspects of the tax treatment applicable to investments of mining and oil and gas industry. The document highlights the relevant tax topics of the general tax legislation(Income Tax Law) and the special legislation of both industries (General Mining Law and Hydrocarbons Organic Law). ; Este artículo comenta los aspectos más relevantes del tratamiento tributario de las inversiones de la industria minera y de hidrocarburos, resaltando los puntos principales de la legislación tributaria general (Ley del Impuesto a la Renta) y sectorial (Ley General de Minería y Ley Orgánica de Hidrocarburos).

Este artículo pretende evidenciar como las reducciones tributarias que se otorgan a los inversionistas y empresarios en el país de Puerto Rico en vez de generar beneficios que contribuyan con el crecimiento y desarrollo del país, apoyo a los sectores económicos vulnerables e incipientes y a la generación de nuevas oportunidades empresariales y sociales ha desencadenado una problemática que se ha extendido al área fiscal del país, teniendo como resultado un panorama desalentador reflejado en una crisis que pudo ser evitada. ; This paper expects to show how the impositive taxes reduction that have been given to Puerto Rico's businessman and investors has not contributed with the economic growth, also expects to explain how this policy has not supported the economic vulnerable sectors and has not generated new work's business opportunities for people who really need it and for the progress of the society. In the last years people like foreign investors have been taken this social benefit for creating enterprises and for earning money, in the beginning of the policy's promotion was a really good strategy for the country but later the money who all the companies constantly was being produced started to disappear and the country suffered an important fiscal crisis. A fact thaht could be avoided an now is a critical problem for the government and for the country's budget.

The presence of Spanish companies in Latin America became a phenomenon of important economic and social consequences in the 1990s. Three fourths of the capital invested by Spanish firms occurred in banking, energy and telecommunications. These three industries make up the economic infrastructure of a market and, therefore, investments in those sectors have important implications for the future economic development of the host countries. A detailed sectoral analysis shows that the arrival of the Spanish investors was not a spontaneous phenomenon. Rather, it was a defensive move by the Spanish firms, supported by the Spanish government, to gain access to new markets in advance of the internal liberalization in the European Union, which would make the Spanish firms come into direct competition with large and supposedly more competitive European firms. The structural reforms implemented by the Latin American governments in the 1990s and the opening of their markets to foreign investors worked as powerful incentives for the Spanish firms. Latin America offered them new markets to improve their competitiveness and to generate additional resources to compensate for the potential loss of business in Spain to European competitors. The conditions in Latin America were appropriate for the introduction of their products, which were mostly related to the development of infrastructure in all three sectors. MERCOSUR, Chile, and Peru were the main recipients of Spanish investment. ; La presencia de empresas españolas en Latinoamérica se convirtió en un fenómeno económico y social de importantes consecuencias en la década de los noventa. Tres cuartas partes del capital invertido por los españoles se concentraron en las industrias de banca, energía y telecomunicaciones. Las tres forman parte de la infraestructura económica de un país y, por ello, tienen implicaciones importantes para el futuro crecimiento económico. Un análisis sectorial detallado revela que la llegada de los inversionistas españoles no fue un fenómeno casual ni espontáneo. Se trató, más bien, de un movimiento defensivo de las empresas españolas, apoyadas por el gobierno español, para conquistar nuevos mercados y adelantarse así a la liberalización interna en la Unión Europea, la cual pondría a las compañías españolas en directa competencia con grandes firmas europeas, supuestamente más competitivas. Las reformas estructurales y la apertura de mercados a los inversionistas extranjeros llevadas a cabo por los gobiernos latinoamericanos sirvieron de poderoso atractivo para las compañías españolas, que encontraron en Latinoamérica nuevos mercados para mejorar sus tasas de competitividad y para generar recursos adicionales que les permitirían compensar la potencial pérdida de negocio en España. Sus productos respondieron bien a las necesidades de los mercados latinoamericanos, que precisaban desarrollar y mejorar la infraestructura existente en los tres sectores. Los países del Mercosur, Chile y Perú fueron los principales receptores de la inversión española.

The investments made in Chile by nationals of member countries of the European Union and those performed by chilean nationals in the EU territory are governed today by a special law: Chilean-European Law Foreign Investment. The treaty signed between Chile and the European Union, in November 18, 2002, which set up an Association between the European Community and its Member States and the Republic of Chile, regulates very important aspects of foreign investment and comes to crown a set of Investment Promotion and Protection Agreements, which are reciprocal and compulsory in our country and in the majority of Member States of the Union. These treaties and the EU-Chile Association Agreement consolidate and confirm the rights and obligations already established and are the normative content of what today we call the European Chilean Law on Foreign Investment. ; Las inversiones que efectúen en Chile los nacionales de países miembros de la Unión Europea y las que realicen los chilenos en el territorio de la UE, se rigen hoy por un derecho especial: el Derecho Chileno–Europeo de la Inversión Extranjera. En efecto, el tratado suscrito entre Chile y la Unión Europea, el 18 de Noviembre de 2002, que establece una Asociación entre la Comunidad Europea y sus Estados Miembros y la República de Chile, junto con regular aspectos muy importantes de la inversión extranjera, viene a coronar una serie de Acuerdos de Promoción y Protección de Inversiones vigentes que obligan, recíprocamente, a nuestro país con la mayoría de los Estados Miembros de la Unión. Estos tratados, junto al propio Acuerdo de Asociación Chile-UE, que consolida y confirma los derechos y obligaciones establecidos en los referidos acuerdos bilaterales, constituyen el contenido normativo de lo que hoy podemos llamar el Derecho Chileno-Europeo de la Inversión Extranjera.