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Although the internationalization of economies is driven by specific industry conditions or business-specific differences, the institutions that exist as background conditions directly determine firms’ strategies and interactions in the international environment. This paper contributes to the discussion on the relationship between institutional quality and outward FDI (OFDI). We used 30 indicators in 48 emerging economies in the period 2007–2017; we collected the indicators from alternative secondary sources. After we applied Factor Analysis, six factors were retained. We named the components as follows: “Transparency of government” (F1), “Research, development and innovation, R&D+I” (F2), “Inequality” (F3), “Rules on inward FDI (IFDI)” (F4), “Education and training” (F5), and “Financial market” (F6). The panel data model outcomes suggest that Factor 2, Research, development and innovation, has a significant and positive effect on OFDI. Factor 6, the Financial market, has a significant and negative effect on OFDI. When we include lagged values of OFDI stocks the results also show that the government measures transparency positively and significantly affects OFDI stocks. These findings imply that the institutional environment creates two streams of OFDI: leverage and escapism.

The home country’s institutional framework determines the capacity to compete in the global arena. This paper discusses the linkage between institutional quality (IQ) and international competitiveness (IC). We measured institutions’ quality in emerging economies through the use of selected indicators between 2007–2017. To evaluate the proposed IQ constructs and their relationship with IC, we applied partial least squares – structural equation modeling (PLS-SEM) analysis. The model outcomes suggest that political and lack of systemic conditions have a significant and negative effect on international competitiveness, while science, technology, engineering and mathematics (STEM) resource conditions have a significant and positive effect.

In Colombia, the gaps of regional inequalities and social opportunities permeate people’s economic, political, and social participation. Additionally, the initial endowments of individual and socioeconomic background, barriers to financial aid, and academic and personal skills restrict decision-making about studying. In this context, the main objective is to analyze the determinants of dropout rates in Colombia and the differences between the type of institutions, field of study, and regions. We used data from three public administrative agencies for the period 2000–2012. The methodology combines multiple correspondence analysis and a lineal hierarchical model to explain the effect of variables operating at different levels. As a result, we retained four dimensions to represent the individuals’ socioeconomic and financial conditions. The findings obtained from the multilevel model suggest the variation between institutions (11%) and the interaction between institutions and the program cycle (17.8%). It confirms the influence of inequities on desertion. The student chooses between programs with differences in fees and study costs in general, such as quality, social recognition, and employment. In sum, contextual and institutional disparities in the dropout phenomenon’s behavior are explained mainly by the supply conditions in these regions and the individuals’ socioeconomic backgrounds.

Este documento evalúa el comportamiento de varios modelos de volatilidad en estimaciones de un día del valor en riesgo (VaR) de veinticuatro series de retornos de acciones en Colombia con diferentes distribuciones. Al considerar que todas las series de retornos presentan clúster de volatilidad y memoria de largo plazo, se utilizan modelos tipo GARCH que incluyen diferentes distribuciones: normal, T-Student y GED. Los hallazgos corroboran la dificultad de elegir un único modelo para el cálculo del VaR, pero validan el uso de modelos paramétricos con distribución normal y simulación Montecarlo en mercados financieros emergentes.