Relationship Between the Institutional Environment and Country Risk
The analysis of Country Risk and its determinants has gained significant importance in economic theory. In this context, the influence of the institutional environment on Country Risk has been extensively investigated and documented, as factors such as regulations, the justice system, and the quali...
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| פורמט: | article |
| שפה: | spa |
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2024
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| נושאים: | |
| גישה מקוונת: | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464 |
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הוספת תג
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הוספת תג | _version_ | 1858113931431641088 |
|---|---|
| author | Arellano, Melissa |
| author_facet | Arellano, Melissa |
| author_role | author |
| collection | Revista Cuestiones Económicas |
| dc.creator.none.fl_str_mv | Arellano, Melissa |
| dc.date.none.fl_str_mv | 2024-06-28 |
| dc.format.none.fl_str_mv | application/pdf text/html |
| dc.identifier.none.fl_str_mv | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464 10.47550/34.1.5 |
| dc.language.none.fl_str_mv | spa |
| dc.publisher.none.fl_str_mv | Banco Central del Ecuador |
| dc.relation.none.fl_str_mv | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464/355 https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464/363 |
| dc.rights.none.fl_str_mv | Derechos de autor 2024 Cuestiones Económicas https://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
| dc.source.none.fl_str_mv | Cuestiones Económicas; Vol. 34 Núm. 1 (2024): Revista Cuestiones Económicas; Autor: Melissa Arellano 2697-3367 2697-3367 reponame:Revista Cuestiones Económicas instname:Banco Central del Ecuador instacron:BCE |
| dc.subject.none.fl_str_mv | Country risk Institutional environment Feasible generalized least squares Riesgo país Entorno institucional Mínimos cuadrados generalizados factibles |
| dc.title.none.fl_str_mv | Relationship Between the Institutional Environment and Country Risk Relación entre el entorno institucional y el riesgo país |
| dc.type.none.fl_str_mv | info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Artículos de Investigación |
| description | The analysis of Country Risk and its determinants has gained significant importance in economic theory. In this context, the influence of the institutional environment on Country Risk has been extensively investigated and documented, as factors such as regulations, the justice system, and the quality of governance play crucial roles in economic stability. This study examines the relationship between the institutional environment and Country Risk in seventeen countries across Latin America, the Caribbean, Asia, and Europe. The main hypothesis of this work posits that a deterioration in institutional quality in developing countries is linked to an increase in the level of Country Risk. To demonstrate this hypothesis, a Feasible Generalized Least Squares (FGLS) model is estimated using panel data from 2002 to 2019. The results support the stated hypothesis, with the variables right of expression and efficiency of law standing out as the main factors contributing to the reduction of Country Risk. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | REVCUESTEC_44f6f521b3531a11504d49f8f045b0f0 |
| identifier_str_mv | 10.47550/34.1.5 |
| instacron_str | BCE |
| institution | BCE |
| instname_str | Banco Central del Ecuador |
| language | spa |
| network_acronym_str | REVCUESTEC |
| network_name_str | Revista Cuestiones Económicas |
| oai_identifier_str | oai:estudioseconomicos.bce.fin.ec:article/464 |
| publishDate | 2024 |
| publisher.none.fl_str_mv | Banco Central del Ecuador |
| reponame_str | Revista Cuestiones Económicas |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | Revista Cuestiones Económicas - Banco Central del Ecuador |
| repository_id_str | |
| rights_invalid_str_mv | Derechos de autor 2024 Cuestiones Económicas https://creativecommons.org/licenses/by-nc/4.0 |
| spelling | Relationship Between the Institutional Environment and Country RiskRelación entre el entorno institucional y el riesgo paísArellano, MelissaCountry riskInstitutional environmentFeasible generalized least squaresRiesgo paísEntorno institucionalMínimos cuadrados generalizados factiblesThe analysis of Country Risk and its determinants has gained significant importance in economic theory. In this context, the influence of the institutional environment on Country Risk has been extensively investigated and documented, as factors such as regulations, the justice system, and the quality of governance play crucial roles in economic stability. This study examines the relationship between the institutional environment and Country Risk in seventeen countries across Latin America, the Caribbean, Asia, and Europe. The main hypothesis of this work posits that a deterioration in institutional quality in developing countries is linked to an increase in the level of Country Risk. To demonstrate this hypothesis, a Feasible Generalized Least Squares (FGLS) model is estimated using panel data from 2002 to 2019. The results support the stated hypothesis, with the variables right of expression and efficiency of law standing out as the main factors contributing to the reduction of Country Risk.El análisis del riesgo país y sus determinantes ha tomado gran importancia en la teoría económica. En este contexto, se ha investigado y documentado la influencia del entorno institucional en el riesgo país, ya que factores como las regulaciones, el sistema de justicia y la calidad del gobierno desempeñan un papel crucial en la estabilidad económica. Este estudio se centra en examinar la relación entre el entorno institucional y el riesgo país en 17 países de Latinoamérica y el Caribe, Asia y Europa. La hipótesis principal de este trabajo sostiene que un deterioro en la calidad institucional en países en desarrollo está vinculado a un aumento en el nivel de riesgo país. Para demostrar esta hipótesis, se estima un modelo de mínimos cuadrados generalizados factibles (MCGF) con datos de panel para el periodo de 2002-2019. Los resultados respaldan la hipótesis planteada. Específicamente, las variables derecho de expresión y eficiencia de ley destacan como los principales factores que contribuyen a la reducción del riesgo país.Banco Central del Ecuador2024-06-28info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículos de Investigaciónapplication/pdftext/htmlhttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/46410.47550/34.1.5Cuestiones Económicas; Vol. 34 Núm. 1 (2024): Revista Cuestiones Económicas; Autor: Melissa Arellano2697-33672697-3367reponame:Revista Cuestiones Económicasinstname:Banco Central del Ecuadorinstacron:BCEspahttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464/355https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464/363Derechos de autor 2024 Cuestiones Económicashttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccess2025-09-02T18:30:15Zoai:estudioseconomicos.bce.fin.ec:article/464Portal de revistashttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCEOrganismo de gobiernowww.bce.fin.echttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/oaiEcuadoropendoar:2025-09-02T18:30:15falsePortal de revistashttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCEOrganismo de gobiernowww.bce.fin.echttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/oaiEcuadoropendoar:2025-09-02T18:30:15Revista Cuestiones Económicas - Banco Central del Ecuadorfalse |
| spellingShingle | Relationship Between the Institutional Environment and Country Risk Arellano, Melissa Country risk Institutional environment Feasible generalized least squares Riesgo país Entorno institucional Mínimos cuadrados generalizados factibles |
| status_str | publishedVersion |
| title | Relationship Between the Institutional Environment and Country Risk |
| title_full | Relationship Between the Institutional Environment and Country Risk |
| title_fullStr | Relationship Between the Institutional Environment and Country Risk |
| title_full_unstemmed | Relationship Between the Institutional Environment and Country Risk |
| title_short | Relationship Between the Institutional Environment and Country Risk |
| title_sort | Relationship Between the Institutional Environment and Country Risk |
| topic | Country risk Institutional environment Feasible generalized least squares Riesgo país Entorno institucional Mínimos cuadrados generalizados factibles |
| url | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/464 |