vol. 15 núm. 22 (2013)

Community participation is in the Constitution of the Bolivarian Republic of Venezuela as a right. Participants in the CC display acts of authority that should be subject to the rules of liability found in the laws of the State of Venezuela. This research will examine the process Accountability of financial resources granted to the municipality CC Rangel Merida state. The result is that the CC emerge as a type of community organization that forced its members to adapt to a new governance structure and without public support. To this end, we propose a set of strategies that will help formalize this process and improve its performance.

This paper presents a theoretical model of aggregate supply and demand that helps explain the propagation effects of economic policy and the terms of trade on macroeconomic aggregates in a small open economy with two sectors and under a fixed exchange rate regime. Contrary to traditional results, a devaluation does not affect real economic activity but causes inflation. Likewise, an increase in the price of export product causes two simultaneous effects. Increases aggregate supply because by increasing output in the export sector and rises aggregate demand. Depending on which effect dominates, domestic prices might increase, decrease or remain constant.

This article highlights the benefit and proper functioning of the microfinance program called Rural Banks. Besides a comparative study to observe the strengths and weakness they have, we build (the model “Evaluation and Measurement of the Quality Management of Rural Banks” (EMCGCR). The preliminary assessment indicates that rural banks are sustainable microfinance organizations in rural areas. The results have collapsed the myth: “poor do not pay”; these organizations reported very low default rates. Multivariate analysis and artificial intelligence were used as alternate analysis techniques to reinforce this conclusion. It was proved that rural banks are efficient and, furthermore, it was found that both techniques allow classifying the sustainability level of the analyzed rural banks with a high level of performance.

Given the lack of consensus on the impact of financial innovations on money demand, this paper investigates on the stability of the long-run demand for real balances in Venezuela facing financial innovations for the period 1984Q1- 2008Q4 and by means of cointegration analysis. Two proxys for financial innovation were used: the ratio currency/deposits (CD) and a ratchet variable (RCD) built on the previous one. Empirical evidence suggests that there exist a stable long-run relationship among the log of real balances, the log of real income, the real interest rate, the inflation rate, the depreciation of domestic currency and RCD and this relationship could be interpreted as a demand for real balances. Results reveal that when new financial instruments are introduced, the demand for real balances diminishes. This suggests that economic agents allocate resources differently affecting their portfolio composition and the demand for real money. This result is typical in economies with high and persistent inflation rates, balance of payment crisis, exchange rate instability and political and economic uncertainty.

This paper provides a critical survey of the definitions political determinants on the state size, understood as public expenditure of the national government, which is linked to different political variables rather than economics do. Thus, public expenditure matches with the wishes, requests or demand of the voters by redistribution, and at the same time the rulers seek to maximize their own benefit. This research did not involve the concept of a benevolent or benefactor government, whose fundamental purpose is to seek the maximization of social welfare.

On the legal, social and criminological the issue of crime is an imperative approach in all its dimensions and types to constitute acts that are not consistent with the laws governing society. Specifically, from the socio-crimonological viewpoint sexual crime is a problem inherent to the community and call for mitigation strategies, which arise from the same research process. The objective of this study is to analyze sexual crime from a criminological and socio-legal view based on its meaning, psychopathy, types, determinants of sexual behavior deviant type, its consequences and the contribution of criminology in its prevention. The methodology reflects a qualitative paradigm, attending technical hermeneutics as content analysis and interpretation of texts, laws and scientific articles on crime. The main conclusion is that the legal meaning of sexual crime have a different content with respect to socio-criminological, because the first is aimed to determine the offense, or any act against property, customs and the good order of the family, which are given a punishment of a criminal nature and, second, focuses on the determination of the crime associated with sexual crime, and social and community problem, which must find ways of solution positive norms.

The article makes a presentation of monetary and exchange rate policy in Colombia during the last decade, with emphasis on the possible implementation of monetary trilemma, which states that the main implication of monetary policy is to determine an exchange rate desirable to achieve the purposes international trade, a desirable interest rate to encourage productive activity and increased capital mobility compatible with the inflation target performance goal. The inability of the trilemma verified considering the uncovered parity of interest rates in a macroeconomic environment characterized by a flexible exchange rate but revalued, low domestic interest rates and international financial market uncertainty, which has been reflected in an increase in the balances of the capital and financial account liabilities and especially more larger current account deficit.