Among the key factors for local development, there are the flexible production organization and the development of institutions; these topics are analyzed and evaluated in this article, particularly to the Mérida´s case, Venezuela, by analyzing its strengths, weaknesses, opportunities, and...

To obtain benefits from capital globalization, it is necessary for the domestic financial market to be well-developed and regulated. This paper analyzes the effect of capital globalization on the financial system from an institutional perspective. Institutional change is produced by the market...