Revista de Economía del Caribe

Perception of corruption and government approval in Latin America

Gabrielle Letícia Campos de Oliveira — 2025-12-30

This study analyzes the relationship between perceptions of executive branch corruption and government approval in 18 Latin American countries. A total of 11,582 observations from the 2018 Latinobarómetro are used, and a Multilevel Logit model is estimated. Results show that higher perceptions of executive corruption reduce the probability of government approval by 19.1 percentage points. These findings indicate that perceived corruption undermines governmental credibility, reveals institutional fragilities in the region, and limits the effectiveness of public policies.

Climatic and macroeconomic factors associated with the price of criolla potato in Bogotá: an analysis using time-lagged models

Néstor Cordero Sáenz — 2025-12-30

This study analyzes the relationship between climatic and macroeconomic variables and the price of Solanum phureja (criolla potato) in Bogotá, Colombia, during the 2014–2023 period. Time-lagged econometric models of up to six months, Pearson correlation coefficients, and multiple regression analyses were applied. Results show that the Representative Market Rate (TRM) and extreme climatic phenomena (El Niño/La Niña) are the main determinants of price dynamics, while rainfall and fertilizer prices exhibited no statistical significance. The findings provide empirical evidence on the drivers of price volatility in the criolla potato market and offer practical insights for risk management and policy design in the agricultural sector, particularly under the increasing influence of climatic and economic uncertainty.

Time-lagged regression models (up to six months), Pearson correlation coefficients, and multiple regression analysis were applied to identify significant associations. Results show that the TRM is the most influential variable, followed by climatic anomalies and oil prices. Conversely, precipitation and urea prices were not statistically significant, possibly due to limitations in data representativeness.

The findings provide empirical insights into decision-makers in the agricultural sector, supporting more informed risk management strategies and policy development in the context of increasing price volatility in food markets.

Impact of human capital on the economic growth of municipalities in Paraná: a spatial analysis from 2002 to 2021

Victor Hugo Bartolomeu Araujo — 2025-12-30

This article examines the impact of human capital on the economic growth of municipalities in Paraná, Brazil, from 2002 to 2021, using spatial econometric models. The study analyzes variables such as higher education enrollment, energy consumption, and population growth, assessing their direct and indirect effects on municipal GDP. By incorporating the spatial dimension, the analysis captures interactions between neighboring municipalities, highlighting spatial externalities in regional growth. The findings support public policy formulation aimed at sustainable growth, emphasizing the importance of investments in human capital and infrastructure for regional economic development.

The Digital disruption and value creation in virtual stores in the city of Guayaquil

Gabriela Almeida Morales — 2025-12-30

The impact that the digital era has had in recent years has driven significant progress in organizations, enabling them to overcome obstacles and achieve success. The purpose of this study was to analyze how digital disruption impacts the generation of value in virtual stores in the city of Guayaquil- Ecuador. This research adopts a correlational approach and uses quantitative methods. The results reveal a Pearson correlation coefficient of 0.979, with a p-value of 0.001, which is less than the significance level of 0.05. This indicates that digital disruption impacts the creation of value in virtual stores. In this sense, addressing the challenges associated with digital disruption, even those that already exist, will deliver superior performance that takes full advantage of new technologies.

Does population aging influence Brazilian economic growth?

Mathias Schneid Tessmann — 2025-12-30

This paper empirically tests the relationship between productivity and the aging of the Brazilian population from 2012 to 2022, using quarterly data from IBGE and PNAD Contínua. The study follows a Solow-augmented model with the dependency ratio incorporated and employs Johansen cointegration and VECM methods. Results show that population aging exerts a positive and statistically significant effect on economic growth, while the savings rate has a negative long-term effect on per capita income. These findings contrast with much of the international literature, highlighting specific demographic and institutional features of Brazil. The results have policy implications for pension reform, labor participation of older adults, and active aging strategies.

Fiscal communication and its effects on monetary policy: an analysis based on natural language processing

Diego Pitta de Jesus — 2025-12-30

The purpose of this article is to investigate how the tone of the fiscal authority's communications can influence monetary policy decisions. To this end, a fiscal policy sentiment index was developed using machine learning techniques, using the monthly public debt reports issued by the National Treasury as a source of information. The sentiment index was used as an explanatory variable in two approaches to achieve the central objective of the article. In the first, a traditional version of the central bank's reaction function was estimated using classic econometric techniques. In the second, the analysis was expanded towards a Dynamic Stochastic General Equilibrium model (DSGE), in order to estimate central bank reaction functions and, with this, produce inferences about the effect of fiscal policy sentiment in the behavior of monetary policy. The main results suggest that fiscal policy sentiment has influenced the monetary policy decision-making process in Brazil, indicating a possible scenario of fiscal dominance. In this sense, this article contributes an unprecedented approach to an important topic in public finance by reinforcing the fundamental role of communication and coordination between monetary and fiscal authorities.

CRM relational management and customer satisfaction in public institutions

Gloria Evelina Pazmiño Cano — 2025-12-30

The problem identified in public institutions is related to poor staff training, resistance to change, and inadequate strategic planning, which have limited the effectiveness of public service, despite the existence of customer relationship management (CRM) software in some institutions. The objective of this study focused on examining CRM relationship management and its impact on user loyalty in public institutions in Ecuador. The study included 200 users of public services, selected through systematic probability sampling. The results indicated that user loyalty maintained a significant correlation (Rho=0.873; p=0.000) with CRM management, confirming that user trust improved as public servants improved their responsiveness in bureaucratic processes.

Credit and savings dynamics in the context of the Covid-19 crisis in Costa Rica (2019–2023)

Roxana Morales Ramos — 2025-12-30

In December 2019, the emergence of SARS-CoV-2 caused a severe health, economic, and social impact globally. This article examines the effects of the pandemic on credit and private savings in Costa Rica, using a mixed-methods approach that combines quantitative and qualitative data from official sources and media reports, covering the period 2019–2023. During 2020, the most critical year, real GDP contracted, affecting key macroeconomic variables, including savings and credit. The behavior of these indicators reveals an economic crisis whose magnitude was amplified by pre-existing structural conditions that exacerbated the effects of the pandemic.

Analysis of sustainability and resource management practices in coal mines: case of the municipality of Sogamoso, Boyacá.

María Isabel Rojas Triana — 2025-12-30

Coal mining is an economic pillar in Colombia, but its sustainability is called into question due to its impacts. This study seeks to evaluate the optimization of resources derived from coal mines in the municipality of Sogamoso, Boyacá, considering environmental, social, and public health aspects. Using a mixed approach, combining documentary analysis with multivariate statistical analysis of multiple correspondence, direct observation, 23 interviews, and 80 surveys of key stakeholders, the results reveal a deep gap between Colombia's robust legal framework and its weak enforcement. Responsible optimization in mining is associated with environmental awareness, legal knowledge, and community participation; its absence reflects governance failures. Therefore, there is an urgent need to strengthen oversight and community capacity to transition toward sustainable mining, integrating capital management, costs, and circular value.

Incidencia de la capacitación técnica y la inversión en tecnología en la productividad de los pequeños productores agrícolas del cantón Quevedo

Ana Cristina Fernandez Rivera — 2025-12-30

This study explores how technical assistance influences the productivity of small farmers in Quevedo, Ecuador, where agriculture plays a central role in the local economy. Eighty farmers from a local collection center, representing diverse ages, educational backgrounds, and farming experience, participated in the research. Using a mixed-methods approach, the study combined unstructured interviews, structured questionnaires, and document analysis, along with a multiple linear regression model to understand how factors such as technical support, farm size, technology use, and farmer age affect income. The results reveal that technical assistance significantly boosts farmers’ earnings, increasing average income by 73.3 USD per person by helping them adopt better cultivation practices, manage pests effectively, and optimize resources. Larger farm areas also contribute to higher income, although success depends on proper management, access to inputs, and favorable climatic conditions. These findings highlight the critical role of practical training and consistent support in improving productivity. The study concludes that providing technical assistance is essential for enhancing profitability, promoting innovative farming practices, strengthening direct sales, and fostering sustainable development in rural Quevedo.

Adaptive antitrust regulation for algorithmic markets: integrating behavioral economics and rational choice in digital governance

Fernando Ramos — 2025-12-30

The accelerated digitalization of markets and the automation of economic decision-making through algorithms have surpassed the traditional frameworks of competition law, giving rise to new forms of economic power and tacit coordination that challenge the regulatory capacity of States. Accordingly, this article aims to propose a legal framework for antitrust regulation in algorithmic environments by combining rational choice theory with behavioral economics, in order to balance normative coherence, deterrent effectiveness, and technological adaptability. The findings reveal that behavioral economics, while offering valuable tools to understand cognitive biases and organizational dynamics, lacks an effective normative theory to ensure proportionality and sanctioning coherence. Based on this diagnosis, the study proposes a legal framework that preserves the structural rationality of law, integrates behavioral mechanisms, and establishes standards for algorithmic transparency and auditability. Thus, it advances a redefinition of antitrust enforcement designed to reconcile democratic legitimacy, empirical effectiveness, and technological adaptability.

Editorial #36

Revista de Economía del Caribe — 2025-12-30

Editorial #36

Behavioral economics of crime: dual process, ambiguity and intertemporal inconsistency

Felipe Coelho Sigrist — 2025-12-30

This study aims to review and systematize the literature on the Behavioral Economics of Crime. The analysis is organized into three main areas: dual cognitive processes, ambiguity, and intertemporal inconsistency, as these are closely related to core topics in Behavioral Economics. For each of these areas, the study explores their effects on criminal decision-making, as well as their implications for law enforcement policies and the formulation of legal norms within Criminal Law.