2. Publicaciones
URI permanente para esta comunidadhttps://hdl.handle.net/20.500.12640/4068
Las publicaciones de ESAN reúnen una variedad de materiales académicos y prácticos que abarcan áreas fundamentales como la administración, economía, negocios, entre otros. Con enfoque en la formación y el desarrollo profesional, estas obras buscan contribuir al conocimiento y la innovación en diversas disciplinas; asimismo, proporciona información relevante y actualizada para la comunidad académica y empresarial en el ámbito local e internacional
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Ítem Solo Metadatos Las interacciones entre los países del AFTA y de la APEC y sus influencias en la región(Universidad ESAN. ESAN Ediciones, 1997-12-30) Daquila, Teófilo C.It attempts to trace and identify the divergences of ASEAN and APEC member countries with respect to the three areas of work agreed upon by ABPEC at the 1993 Seattle Summit: trade liberalization, trade facilitation and economic cooperation; differences that are explained, among other reasons, buy the different degrees of economic development achieved, different industrialization policies and different tariff structures. It is concluded that, within ASEAN, member countries differ in the speed of the trade liberalization process and in the allocation of industrial projects in the pursuit of industrial cooperation. Within APEC, countries have different points of view and interact differently in terms of focus, timelines, trade blockade issues, and open regionalism. But in both cases, countries converge on the need to achieve liberalization and openness to trade and investment.Ítem Solo Metadatos El papel de la región de la ASEAN en la futura economía global(Universidad ESAN. ESAN Ediciones, 1997-12-30) Daquila, Teófilo C.Provides a retrospective assessment of ASEAN’s role in the last 30 years, and analysis of current issues and some trends or prospects for its future in relation to the global economy. He points out that this region has positioned itself as the third most important region in exports, imports and investments, while, in the political aspect, due to its strategic location, it provides security and stability to the world and the Asia Pacific region. He analyzes the factors that impact the role of ASEAN: regional trade agreements in the world, its relations with Europe, the APEC forum and the WTO. He also describes his measures to liberalize this commercialization of goods, services and investment, his response to the financial crisis and to political security problems. It is concluded that the global economy is heading towards freedom of trade and investment, while ASEAN will continue to grow dynamically and become an important factor in the economic and political role.Ítem Solo Metadatos Value-at-risk predictive performance: a comparison between the CaViaR and GARCH models for the MILA and ASEAN-5 stock markets(Universidad ESAN. ESAN Ediciones, 2021-12-19) Serrano Bautista, Ramona; Núñez Mora, José AntonioPurpose. This paper tests the accuracies of the models that predict the Value-at-Risk (VaR) for the Market Integrated Latin America (MILA) and Association of Southeast Asian Nations (ASEAN) emerging stock markets during crisis periods. Design/methodology/approach. Many VaR estimation models have been presented in the literature. In this paper, the VaR is estimated using the Generalized Autoregressive Conditional Heteroskedasticity, EGARCH and GJR-GARCH models under normal, skewed-normal, Student-t and skewed-Student-t distributional assumptions and compared with the predictive performance of the Conditional Autoregressive Value-at-Risk (CaViaR) considering the four alternative specifications proposed by Engle and Manganelli (2004). Findings. The results support the robustness of the CaViaR model in out-sample VaR forecasting for the MILA and ASEAN-5 emerging stock markets in crisis periods. This evidence is based on the results of the backtesting approach that analyzed the predictive performance of the models according to their accuracy. Originality/value. An important issue in market risk is the inaccurate estimation of risk since different VaR models lead to different risk measures, which means that there is not yet an accepted method for all situations and markets. In particular, quantifying and forecasting the risk for the MILA and ASEAN-5 stock markets is crucial for evaluating global market risk since the MILA is the biggest stock exchange in Latin America and the ASEAN region accounted for 11% of the total global foreign direct investment inflows in 2014. Furthermore, according to the Asian Development Bank, this region is projected to average 7% annual growth by 2025.
