Journal of Economics Finance and International Business
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Beneficios del Forfaiting
Get PDFThis article exposes the benefits of Forfaiting, as a financing instrument for international trade, its definition, operating mechanisms, advantages and disadvantages, as well as its regulations in the International Chamber of Commerce.
Forfaiting is a very little-known financing tool and at the same time very beneficial for all exporters and importers who use a Letter of Credit as a means of international payment.
The benefit for exporters is improved liquidity, reduced risk of non-payment, improved negotiation capacity; For importers, a longer payment period is obtained, their cash flow (liquidity) improves and the cost of financing is reduced.
A status is also presented of how the financial tool of Forfaiting is growing. A study of articles related to Forfaiting is carried out, as well as a procedure on how to access financing.
A brief and concise description of the financing process, requirements and operation in banking entities is also presented.
Objetivo. - El presente artículo expone los beneficios del Forfaiting, como instrumento de financiamiento para el comercio internacional, su definición, los mecanismos operativos, las ventajas y desventajas, así como su normativa en la Cámara de Comercio Internacional.
Metodología. -El Forfaiting es una herramienta de financiamiento muy poco conocida y a la vez muy beneficioso para todos los exportadores e importadores que utilizan como medio de pago internacional una Carta de crédito. Por ello es exploratoria, cuantitativo y no experimental y sobre todo la investigación es documental, porque se basa en diversas fuentes de información como buscadores, repositorios, instituciones financieras y revista indexadas.
Resultados Basado en los beneficios para los exportadores se sustentó como se logra una mejora en liquidez, como se mitiga el riesgo de impago y como se puede optimizar la capacidad de negociación; también se demostró para los importadores como pueden obtener mayor plazo para pagos y mejorar su flujo de caja.
Conclusiones: Se concluye que el Forfaiting está en crecimiento. Se demuestra en el procedimiento que acceder al financiamiento no es complicado y se concluye que todos tienen acceso a utilizarlo siempre y cuando utilicen como medio de pago una Carta de Crédito y además no involucra la línea de crédito del cliente con su banco
Shock del precio del cobre sobre la pobreza en el Perú: un análisis a nivel provincial
Get PDFIn the context of high copper prices in recent years, which quadrupled its value since the beginning of the 2000s, thisresearch proposes to analyze the effects of variations in the copper price, which is the main mineral exported by Peru, on thepoverty ratio. For this reason, a DIF & DIF model is proposed. The results indicate that for every rise of 1% in the copperprice, from the super cycle of commodities price, in the longterm, declines of 0.061 percentage points in poverty rates weregenerated in provinces where copper is extracted in contrast to provinces where copper is not extracted. In conclusion, copperis a very important commodity for the development of Peru.En el contexto de altos precios del cobre en los últimos años, que cuadriplicaron su valor desde inicios de la década de 2000, esta investigación se propone analizar los efectos de las variaciones del precio del cobre, principal mineral exportado por el Perú, sobre el índice de pobreza. Por este motivo se propone un modelo DIF & DIF. Los resultados indican que por cada aumento del 1% en el precio del cobre, a partir del superciclo de los precios de las materias primas, en el largo plazo, se generaron caídas de 0,061 puntos porcentuales en las tasas de pobreza en las provinciasdonde se extrae cobre, en contraste con las provincias donde el cobre no se extrae. En conclusión, el cobre es un mineral muy importante para el desarrollo del Perú
Las Nuevas Galápagos:: Turismo y Desarrollo para el Norte del Perú
Get PDFIn the Piura-Lambayeque Region, in Northern Peru, there are two groups of islands near the Pacific Coast. One is Lobosde-Tierra and the other one is Lobos-de-Afuera, because it is located further away into the ocean. This paper proposesconstruing an artificial floating island between the two groups of islands mentioned above. This would create a larger clusterof islands that will serve only as a sanctuary for the sea lions and other marine species that live in the area, such as penguinsand other births. This cluster of islands could become the Peruvian Galapagos.
The costs of the investment project are calculated by using the data from similar endeavors in China or Denmark or TheMaldives. We may assume that the unit costs for the Artificial Floating Island in Peru are equal to the unit costs of anothersimilar project of artificial floating islands in those countries. The benefits of this investment project will be the new incomegenerated by the new cruise tourism. We may assume that the benefits of the project may be estimated from the actual tourismrevenue from the Galapagos Islands.
The paper advances that the benefit-cost ratio will be positive and the internal rate of return will be higher than other tourismprojects already approved by development banks, such as the Inter-American Development Bank.
The new project will also help relief from the situation Peru is facing with the global COVID-19 pandemic. Economic recession is plaguing Peru in the 2020s and amounts as one of the worst economic situations of the last 100 years. Also, the global economy is in contraction in Europe and other regions. In fact, the aftermath of the pandemic will be considered as years of economic development lost for some countries like Peru. Specifically, receptive tourism in Peru is in danger of extinction after the pandemic. Actually, Peruvian tourism, which gives employment to 1.4 million people who are mainly women, is in collapse.
Also, this article aims to make proposals to help tourism sales recover their position as the most important section of serviceexports in Peru. The proposal is intended to encourage a nontraditional tourism on the tropical coast of Northern Peruthat should complement the traditional archeological tourism. The conclusions make emphasis on the fact that, at present,Peru is not exploiting its comparative advantage in tourism, which could become a leading sector of the economy. Finally,our thesis is based on the notion that, from 2021 onwards, the recovery of the Peruvian economy must necessarily be basedon exploiting the recovery of external demand rather than putting our trust in domestic demand growth.In the Piura-Lambayeque Region, in Northern Peru, there are two groups of islands near the Pacific Coast. One is Lobos-de-Tierra and the other one is Lobos-de-Afuera, because it is located further away into the ocean. This paper proposes construing an artificial floating island between the two groups of islands mentioned above. This would create a larger cluster of islands that will serve only as a sanctuary for the sea lions and other marine species that live in the area, such as penguins and other births. This cluster of islands could become the Peruvian Galapagos.The costs of the investment project are calculated by using the data from similar endeavors in China or Denmark or The Maldives. We may assume that the unit costs for the Artificial Floating Island in Peru are equal to the unit costs of another similar project of artificial floating islands in those countries. The benefits of this investment project will be the new income generated by the new cruise tourism. We may assume that the benefits of the project may be estimated from the actual tourism revenue from the Galapagos Islands.The paper advances that the benefit-cost ratio will be positive and the internal rate of return will be higher than other tourism projects already approved by development banks, such as the Inter-American Development Bank.
The new project will also help relief from the situation Peru is facing with the global COVID-19 pandemic. Economic recession is plaguing Peru in the 2020s and amounts as one of the worst economic situations of the last 100 years. Also, the global economy is in contraction in Europe and other regions. In fact, the aftermath of the pandemic will be considered as years of economic development lost for some countries like Peru. Specifically, receptive tourism in Peru is in danger of extinction after the pandemic. Actually, Peruvian tourism, which gives employment to 1.4 million people who are mainly women, is in collapse. Also, this article aims to make proposals to help tourism sales recover their position as the most important section of service exports in Peru. The proposal is intended to encourage anontraditional tourism on the tropical coast of Northern Peru that should complement the traditional archeological tourism. The conclusions make emphasis on the fact that, at present, Peru is not exploiting its comparative advantage in tourism, which could become a leading sector of the economy. Finally, our thesis is based on the notion that, from 2021 onwards, the recovery of the Peruvian economy must necessarily be based on exploiting the recovery of external demand rather than putting our trust in domestic demand growth
Indicadores de riesgo y el retorno esperado en la inversión extranjera directa en el sector minero de Perú y Chile (2006-2023)
Get PDFThe aim of this study is to analyze the impact of the expected return on capital and risk indicators on investors’ decision-making in the mining sector of Peru and Chile during the 2006-2023 period. The research focuses on three exogenous variables: the cost of capital calculated using the CAPM model, the corruption perception index, and the governance index. The endogenous variable is Foreign Direct Investment, with all variables expressed in annual periods. Additionally, the methodology employed corresponds to the Autoregressive Distributed Lag (ARDL) model. As main results, it is shown that the political risks captured in the CorruptionPerception Index (CPI) and the governance index (WGI) are not significant for the flows of foreign direct investments for Peru, however, if they are significant, it is said that they do influence Chile’s foreign direct investment flows. On the other hand, the expected performance of the mining sector presents positive effects on the investment flows for the study countries, that is, there is a direct relationship, with an increase in the expected performance of the sector, foreign investment from the countries of studywill increase.El objetivo del presente estudio es analizar el impacto del retorno esperado de capital y de los indicadores de riesgo en la toma de decisiones de los inversores en el sector minero de Perú y Chile durante el período del 2007-2023 en frecuencia anual. La investigación se enfoca en tres variables exógenas: el costo de capital calculado mediante el modelo CAPM, el índice de percepción de corrupción y el índice de gobernanza. La variable endógena es la Inversión extranjera directa, todas las variables son expresadas en períodos anuales. Asimismo, la metodología empleada corresponde al modelo Autorregresivo de Rezagos Distribuidos (ARDL).Como principales resultados, se demuestra que los riesgos políticos captados en el Índice de percepción de corrupción (CPI) y el índice de gobernanza (WGI) no son significativos para los flujos de inversiones extranjera directa para Perú, sin embargo, si son significativos, es decir que si tienen un efecto en los flujos de inversión extranjera directa de Chile. Por otro lado, el rendimiento esperado del sector minero presente efectos positivos a los flujos de inversión para los países de estudio, es decir, que existe una relación directa, frente un aumento del rendimiento esperado del sector minero aumentará la inversión extranjera de los países de estudio
Las remesas internacionales y la participación en la fuerza laboral en Costa Rica: Explicando Resultados Contradictorios
Get PDFThe purpose of this article is to investigate the effects of remittances on labor force participation and labor supply decision of women in Costa Rica based on an analysis of data from the Costa Rica national survey, Encuesta de Hogares de Propositos Multiples (Household Survey for Multiple Purposes) in 2007. The labor force participation decision is analyzed with a Probit model. The determinants of total number of hours worked is investigated with the Heckman selection model. The labor force participation decision on female household heads is found to be affected by remittances and the frequency, reduce labor force participation rates as much as 20 percent. The effect of remittances on the number of hours supplied is found to be weaker. Those households, which receive no remittances or only receive remittances infrequently, supply 3.5 hours more per week. However, we fail to find that frequent remittance receiving household heads supply fewer hours. We find evidence that the number of hours supplied is affected by the frequency of remittances for the poor, but not the extremely poor
Estudio de correlación entre puestos laborales con ingresos promedios y remuneración mínima vital en el sector formal en el Perú para el periodo 2015-2022
Get PDFThe main objective of this research is to study whether there is a correlation between the number of jobs in the formal sector,both in the entire sector and only in the private sector, with the average nominal income of these workers who are in the fifth category and the minimum wage, both real and nominal, for the period 2015-2022 in Peru. The result shows that there is a statistically significant and direct correlation between the variables studied. This means that more jobs in the formal sector matches with higher levels of average income of workers in this sector, and with higher minimum wage. In addition, it also shows the difference between what a worker in the formal sector produces (S/. 6,412.89 soles per month on average) with what is received on average in a job position (S/. 2,697.70 soles per month on average) for the period 2015-2021 also in Peru, thus finding that the difference is very high, the income represents an average of 42.07% of what it produces.La presente investigación tiene como objetivo principal estudiar si hay correlación entre la cantidad de puestos de trabajo en el sector formal, tanto en todo el sector como solamente privado, con los ingresos nominales promedios de estos trabajadores que se encuentran en quinta categoría y la remuneración mínima vital, tanto real como nominal, para el periodo 2015-2022 en el Perú. El resultado muestra que sí hay correlación estadísticamente significativa y de manera directa entre las variables estudiadas. Esto significa que más cantidad de puestos de trabajo en el sector formal coincide con mayores niveles de ingresos promedios de los trabajadores de este sector, y con mayor remuneración mínima vital. Además, también se muestra la diferencia entre lo que produce un trabajador del sector formal (S/. 6,412.89 soles mensuales en promedio) con lo que se percibe en promedio en un puesto laboral (S/. 2,697.70 soles mensuales en promedio) para el periodo 2015-2021 también en el Perú, encontrando así que la diferencia es muy alta, el ingreso representa en promedio el 42.07% de lo que produce
Integración de la Inteligencia Artificial en el Marketing: Métodos y Estrategias para Aumentar el Valor Empresarial
Get PDFIn this present article, the objective is to review the literature in the environment on the different factors of artificial intelligence, as it is known today, many companies are implementing artificial intelligence in marketing, likewise they continue to propose more strategies and improvement methods to generate more sales and advertising. For this, we have reviewed different articles in which it helped us to investigate more about the functions and adaptation strategies of artificial intelligence in marketing. According to this literature, there is a large number of organizations competing with each other, which makes the use of new technologiesessential to have a greater impact on consumers and improve certain areas of marketing. AI provides us with a new worldin which machines can solve problems that were previously exclusive to humans, learning autonomously. In the field of marketing, AI is experiencing significant growth and is having a special impact on market research companies. A lot of relevant information is already available, and you just need to manage it properly to reap its benefits.El presente artículo tiene como objetivo revisar la literatura en entorno a los distintos factores de la inteligencia artificial, como se sabe hoy en día muchas empresas están implementando la inteligencia artificial en el marketing, así mismo, siguen proponiendo más estrategias y métodos de mejora para generar más publicidad, lo que conlleva a aumentar las ventas de modo que la empresa crezca económica y publicitariamente. Para ello, hemos revisado distintos artículos en los cuales nos ayudó a investigar más sobre las funciones y estrategias de adaptación de la inteligencia artificial en marketing, según esta literatura existe una gran cantidad de organizaciones compitiendo entre sí, lo que hace indispensable el uso de nuevas tecnologías para tener un mayor impacto en los consumidores y mejorar el áreas de marketing dentro de las empresas. La inteligencia artificial nos brinda un nuevo mundo en el que las máquinas y softwares pueden resolver problemas que antes eran exclusivos de los seres humanos, aprendiendo de forma autónoma y continua.En el ámbito del marketing, la inteligencia artificial está teniendo un crecimiento significativo y está impactando especialmente a las empresas de investigación de mercados. Mucha información relevante ya está disponible y solo es necesario administrar adecuadamente para aprovechar sus beneficios
Reforesting the Coastal Deserts of the World: A Peruvian Case-Study
Get PDFThis paper discusses the technical and economic possibilities of adapting new technologies for harvesting water from clouds for the purposes of reforestation of vast arid areas of the Peruvian coastline. Peru is the climatical synthesis of the world, with great diversity of climates due to numerous factors such as its latitude, the Andes, the Peruvian sea, and the El Niño current. Although the cold waters of the Peruvian sea have influenced the climate converting the coast into a desert strip, it contributes, paradoxically, to the formation of dense layers of stratum clouds that cover the Peruvian coastal sky most of the year.The viability of adapting the water-harvesting technologies for reforestation of Peru’s coastline is shown to be valid in the paper. The discussion suggests that a social cost-benefit analysis of a 1000-hectares pilot reforestation project would show fairly low monetary costs and very important potential economic benefits. The main use that the new forest areas may be put to is agroforestry production systems, including timber, perennial semi-tropical crops (lucuma, pacay, pepino, basul), medicinal herbs, pasture crops and south american camelidae. The emphasis should be on desert plants such as cactus. The environmental benefits, stemming from the mere existence of forest and a greater biodiversity even if no commercial output is extracted from them, are more difficult to evaluate. Because, how are we to value the benefits on climate and on people brought about by the rebirth of a forest