We study the effect of learning another language on the social and individual welfare by a people group who do not know that language. We use network economics approach in order to take into account the externalities of languages. The equilibrium with decentralized choices is not as good as the...

The concept of social capital has gained importance within economic studies only until the present decade. This article analyses the origin and evolution of the concept of social capital, it also establishes its connection with the economic growth of nations basically through two ways: that...

The goal of the article is to highlight the importance of institutions, organizations and social capital within the growth process, either as efficiency or inefficiency promoters. This is particularly valid for underdeveloped countries which are characterized by an inefficient institutional...

In recent years empirical research about economic growth’s determinants has tended to incorporate political and social factors as explanatory variables, motivated by the evidence arisen from traditional analysis that the differences in countries’ economic performance can not be explained...

The mutualist movement of the industrial era took root in the Iberian Peninsula and Europe, but also in Latin America, from midway through the XIX century. The Spanish Associations Act of 1887 treated the benefit and mutual, or friendly societies as one more method of association. The first...

Trade flows, mobility of productive factors, development of the transport system and a common export base have been the criteria used when analyzing the processes of economic organization of the territory from a historical perspective. The purpose of this paper is to add a new explanatory...

Este documento estudia la estabilidad del sistema de pagos (SP) de alto valor en Colombia (CUD) ante el incumplimiento de una entidad sistémicamente importante, y evalúa la capacidad de respuesta de las entidades afectadas a partir de la utilización de sus recursos y a través de los...