Papeles de Europa (Papers of Europe) (ISSN-e 1989-5917) is an electronic publication issued by the Complutense Institute of International Studies (ICEI) that aims to contribute to the major economic, social, political and institutional debates on Europe, World Economy, Economic Development, and International Relations.
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FDI, Technology, and Upgrading: Rethinking Innovation Policy in Latin America
The relationship between foreign direct investment (FDI), digitalization and global value chains (GVCs) has traditionally been understood as an interdependent process. This paper proposes a development pathway for Latin America based on FDI that enables knowledge transfer and strengthens local technological capabilities, aiming to overcome dependency dynamics. This approach may foster a more productive integration into GVCs by leveraging the window of opportunity created by new digital technologies. The paper also explores key elements for innovation policy, emphasizing access to and use of digital technologies as critical factors for productivity and upgrading.
The diffusion window in artificial intelligence: global dynamics and prospects for Europe
In recent years, the “diffusion window” between the launch of advanced private artificial intelligence models and public access to open alternatives has noticeably shortened. Examples such as GPT-3 and BLOOM, or more recently LLaMA-4 and GPT-4.1, illustrate this acceleration, driven by lower computational costs, the rise of open communities, and strategic business decisions. Europe leads in open models, although it remains dependent on advanced hardware. The European AI Act could promote transparency and security, allowing the region to consolidate a model of open strategic autonomy and define its digital future.
Introducción. La innovación como eje de la transformación económica global: actores, políticas y trayectorias tecnológicas
La innovación es sin duda un elemento estructural de la transformación económica y social contemporánea, configurando nuevas dinámicas de competitividad, producción y organización en un contexto marcado por la aceleración del cambio tecnológico y la creciente interdependencia global. Al mismo tiempo, la innovación se manifiesta como un fenómeno complejo y multidimensional, en el que convergen distintos elementos: empresas, instituciones públicas, marcos regulatorios, infraestructuras tecnológicas y mercados de consumo. Los seis artículos que conforman este monográfico de la revista de Papeles de Europa, abordan la innovación desde perspectivas complementarias. En conjunto, ofrecen una visión integrada de cómo ésta se articula desde distintos ámbitos y cómo ello condiciona las oportunidades y limitaciones de las economías en un entorno global cada vez más interdependiente.
Techno-Globalism and the EU Framework Programmes: evidence from multinational parent companies and subsidiaries
This study examines the participation of European multinational corporations (MNCs) in EU Framework Programs (FPs) using project-level data retrieved from the EU Funding & Tenders Portal, Horizon Dashboard, and CORDIS. The research analyzes the collaboration networks formed by parent companies and their subsidiaries through participation indicators and network analysis, exploring patterns of engagement, centrality, and the role of subsidiaries in local and global knowledge exchange. Results show that MNCs widely use FPs to access strategic knowledge and technology rather than funding, with parent companies concentrated in central Europe and subsidiaries enabling the geographic dispersion of R&D activities. Network analysis reveals a collaborative structure with low density but high cohesion, consistent with a “small world” phenomenon. Subsidiaries are highly connected locally, while parent companies lead in intermediating collaborations. Internal collaboration between parent and subsidiary does not significantly affect network centrality. These findings advance understanding of technological globalization, the role of MNCs in public R&D networks and provide a replicable framework for analyzing corporate collaboration dynamics.
Bibliometric Exploration of Trends in the Digital Economy, E-Commerce, and ICT (2015-2025)
The digital economy, e-commerce, and Information and Communication Technologies (ICT) have profoundly reshaped business models and socioeconomic interactions over the last decade. This study conducts a bibliometric analysis of 135 publications indexed in Scopus (2015–2025) using Bibliometrix and VOSviewer. Results reveal sustained growth in scientific interest and a strong regional concentration of academic production. The ICT–innovation–productivity triad is consolidated as the dominant conceptual axis, with emerging lines focusing on sustainable digital transformation. Future research priorities include accurately measuring the impact of digitisation on sectoral productivity, assessing e-commerce supply chain sustainability, and designing digital well-being indicators adapted to low- and middle-income contexts.
Innovation in retail marketing: sensory experience and its influence on women's footwear purchase decisions
The main objective of this study was to identify the predominant elements influencing the purchasing decision-making process in a footwear retail setting, considering physical product attributes (design, color, price, and brand), the commercial environment (lighting and music), and customer service (quality of service provided). A quantitative, descriptive-level approach was employed, using cross-sectional data analysis. Data were collected through a survey administered to 59 randomly selected women, all aged 35 or older, who had made purchases at the store. The information was processed using descriptive statistics. The main findings indicated that 56% of respondents prioritized footwear design, while environmental and service-related elements such as lighting (84%), music (75%), and customer service (81%) significantly contributed to the decision-making process. The study confirmed that additional experiential elements related to customer service play a pivotal role in shaping purchasing decisions, with design emerging as the most salient factor when selecting footwear.
Deep-black is the new green: Europe-India Innovation Pathways in Laser Systems for Space-Debris Reduction
The expansion of the new space economy has amplified the threat posed by orbital debris. This article maps the global value chains (GVCs) behind Europe’s laser-based technologies for debris detection and mitigation, focusing on European Space Agency (ESA) and private sector systems. The analysis highlights Europe’s dependence on semiconductor-based laser components. The article also examines the strategic potential of cooperation between ESA and the Indian Space Research Organisation (ISRO) in the fight against space debris. India’s strengths in software development, systems integration, and cost-effective innovation complement Europe’s hardware capabilities. The study concludes that strengthened ESA-ISRO collaboration could enhance debris-mitigation capacities while reinforcing the resilience of GVCs supporting laser-ranging technologies.
Digitization strategies in Argentine MSMEs: Is the level of commitment associated with digital maturity?
The study analyzes the commitment of Argentine MSMEs to the digitization strategy in a context of accelerated technological transformation. Using data from the Ibero-American Observatory of MSMEs (2022), an indicator is constructed that measures this commitment and its relationship with digital maturity, sector, and business size. The results reveal structural gaps and sectoral differences, as well as the influence of leadership and strategic planning on technology adoption. Useful evidence is provided for designing policies and programs that strengthen the digital capabilities and sustainable competitiveness of the MSME sector.
Sustainability in spanish energy companies. A proposal for indicators beyond taxonomy
This study analyzes the sustainability of the main energy companies in the IBEX 35: Acciona, Endesa, and Iberdrola. Through a qualitative analysis of the 2023 Non-Financial Information Statements, their commitment to sustainability is examined beyond the local Environmental Taxonomy Regulation by identifying new indicators. It is concluded that the main predictors are: a Long-term Action Plan or Strategy; activities aligned with the Sustainable Development Goals; Double Materiality; policies and analysis of environmental, social, and governance factors; reporting information on the company's sustainable financing; and certificates that verify the reported information.
Varios Autores, Experiencias, ilusiones y recuerdos. Economistas 1974 Somosaguas, Cuenta Atrás, Madrid, 2024, pp 359.
Paradigms in epistemic communities. An analysis of development studies seen from REEDES and EADI
Based on the historical, social, and political role that epistemic communities play as means of production, circulation and legitimation of ideas, this research explores the evolution and current configuration adopted by paradigms in the discipline of development studies. To this end, two of its most consolidated epistemic communities, REEDES and EADI, have been taken as case studies and their academic conferences (carried out from 2010 to 2020) were analysed as they represent ideas and intentions of the community. The results of this paper indicate that, although they share certain patterns, there are important points of divergence, since the presence of different types of actors configures paradigms according with the needs, interests and social structures in which they develop.
Chomsky, Noam. ¿Por qué Ucrania?, Altamarea, Madrid, 2022, pp. 144, ISBN 9788418481673
En "¿Por qué Ucrania?", publicado en 2022, Noam Chomsky ofrece un análisis crítico y profundo sobre las causas y repercusiones de la invasión rusa a Ucrania. A través de una serie de entrevistas, Chomsky desentraña las narrativas simplistas comúnmente presentes en los medios, explorando las complejas dinámicas geopolíticas que han llevado a este conflicto. Su enfoque detallado y multidimensional convierte este libro en una obra esencial para académicos y estudiantes interesados en la política internacional contemporánea.
Analysis of dislocation, relocation, and financial valuation of energy companies of lithium and gas affected by Russia - Ukraine conflict
The research confirms that lithium and natural gas-focused energy companies were affected by the Russia-Ukraine conflict in 2022. However, gas companies exacerbated their problems during the COVID-19 pandemic. The following paper measures the financial impacts of lithium and liquefied natural gas companies listed on international stock exchanges, to determine if they should consider relocating or dislocating. The Tobin Q, Z Score, and Dupont Extended methods were used to perform the analysis. Additionally, the results show that some companies are facing financial difficulties, and their share prices are higher than their actual capital. This suggests a decision-making scenario for companies to either relocate or restructure their operations for better control. Futhermore, lithium companies obtained better returns than gas companies as a result of the situation. Therefore, lithium entities have better feasibility to dislocate, while gas companies have a greater viability to do relocation.
Analysis of the participation of transnational corporations in development strategies in Latin America and Asia. The cases of South Korea and Brazil
This article aims to systematise the causes that determine the different results of the development processes in two regions, Latin America and East Asia, which undertook similar developmental strategies with different outcomes. To this end, the role that transnational companies have historically played in development strategies in both regions will be studied, using as case studies two representative countries, both for the implementation of development policies and for the contribution of transnational corporations to those processes: Brazil and South Korea. Thus, an attempt will be made to determine to what extent the participation of transnational corporations has been decisive in the success of development strategies in both countries.
The demise of the US investment banking from a Minskian perspective
This research analyses the causes behind the de-facto demise of the US firms dedicating their activity exclusively to securities business, in the wake of the financial crisis of 2008, focusing on the firms´ risk mismanagement and bad lending practices, that increased fragility and risk exposures in the US securities sector. These practices emerged when leading firms became gradually convinced of the goodness of financial instruments of their own design, as they engaged in proprietary trading activities and trading of financial products with residual liquidity, increasingly shifting their use from hedge to speculative purposes. In this way, leading financial operators able to take unrestricted risk and highly leveraged positions in unregulated markets are the cause behind volatility in asset prices, and they are ultimately responsible of the cyclical boom and bust dynamics of the market-based economy
Notes on the energy and digital transition of the automotive industry and the sector's position in Spain
The automotive industry is experiencing an in-depth transformation related to the transition towards electric, connected, autonomous and shared vehicles. This transition process reveals impacts on the architecture of the sector's global production chains, specifically, on product design, on the organization of production and logistics processes, and on the actors that participate in the chains. The objective of this paper is to offer some research notes about the main trends observed in this transformation process and to propose some key analysis dimensions to analyze the position of the Spanish automotive industry in this context of transition.
Reseña del libro MONNET, E. y VAUCHEZ, A. (dir.) (2024): L’Europe du marché à la puissance publique. Paris: PUF.
On the Crisis of Silicon Valley Banks: Management Failures and Regulatory and Supervisory Deficiencies in Commercial Banking
The article reports on the episode suffered by Silicon Valley Bank and the systemic impacts generated by the world banking system. Changes in the regulation of commercial banks in the so-called Basel III regulations are analyzed, as a result of the great financial crisis and the existing difficulties in measuring the risks that banks are exposed to, especially in the case of credit risks. and liquidity. Finally, the accent is placed on the importance of supervision and its great difficulties, taking into account not only the theoretical difficulties but also the political difficulties.
Colombia's foreign trade and direct investment flows in times of uncertainty. 2015-2021
The objective of this paper is to describe and analyze the behavior of Colombia's foreign trade and foreign direct investment flows (inward and outward) during the period 2015-2021. It seeks to identify their strengths and weaknesses, with the aim of serving as a basis for decision-making by the agents involved. The information presented is based on data provided by the National Administrative Department of Statistics and the Bank of the Republic of Colombia. The results indicate the persistence and expansion of certain structural characteristics in the exchange of goods and the necessity to confront significant challenges in order to attract investment.
The making of an epistemic community around the Global Value Chains approach as a new development tool in the 21st century
The Global Value Chains approach has become the new development tool in the last two decades since its emergence at the beginning of the century. This work aims, on the one hand, to study the convergence between its main researchers and the international organizations at the time of the practical translation of its theoretical framework, giving rise to the formation of an epistemic community around these ideas. On the other hand, the article analyzes the main limitations, absences and theoretical omissions to understand development in a comprehensive way.
The 'border' in the New Global Economic Geography: the cases of Mexico and Morocco
From a comparative perspective, this article analyzes the new dynamics of industrial relocation in Mexico and Morocco, using as a theoretical framework the Theory of the Localized Global Economy (TLGE) and as an analytical framework the Industrial Relocation Index (IRI), both formulated by Trinidad et al. (2015). The IRI (as a theoretical model) provides insight into the most advantageous locations for transnational companies in their strategies to achieve the "successful product" with the least possible uncertainty. To this end, it takes into account the five dimensions that make it up: product, workers, legitimacy, distance and demand. It is observed how the global economy is located, among others, in two border regions: Tijuana (Mexico) and Tangier-Tetouan (Morocco) due to their geostrategic location between the places of production and the places of consumption.
Global value chains and gender: opportunities and challenges for women workers in developing economies
Large retailers and supermarkets operate through global value chains (GVC) in which they directly source goods from suppliers, many in the global south. They coordinate and govern their suppliers via the application of strict commercial requirements and private standards. Gender plays an important role in the commercial dynamics and expansion of retail GVCs. GVCs generate jobs and incomes for hundreds of millions of workers and smallholders in middle and low-income economies, a significant proportion female. Women contribute to enhancing productivity and quality in GVCs, but are unequally recompensed and outcomes for improving their well-being and gender equality are mixed. This paper asks: How are GVCs underpinned by gender relations, and what are the opportunities and challenges for women engaged in African agri-food value chains? It advances a gender perspective on global value chain analysis with a focus on processes of economic and social upgrading and downgrading. It draws on two contrasting case studies involving exports to Europe in which women play critical roles: East African floriculture where wage labour predominates, and West African cocoa sourced mainly from smallholders. It considers the roles of private, social and public governance in promoting more gender equitable economic and social upgrading.
A critical look at Global Value Chains: globalisation and competition in contemporary capitalism. The case of the automotive industry
This article shows that the Marxian ‘law of value’ can provide solid foundations for the comprehension of the constitution and dynamics of Global Value Chains (GVC). A firm connection is thus established between the particular dynamics internal to each industry and the general dynamics of the ‘system as a whole’, which is where the greatest weakness of the GVC approach lies. Those insights are then shown through a more empirical discussion of recent transformations in the composition and governance structure of GVC resulting from the growing de-linking between innovation and manufacturing and the rise of highly concentrated global suppliers. These phenomena are illustrated through the case study of the automobile industry.
Escenarios de competencia en las cadenas globales de producción en la industria automotriz: un estudio de caso del Grupo Stellantis y su planta ensambladora en Vigo
The transformations that have taken place in recent decades in the way in which production and trade are organised in the global economy invite us to revisit and revise the discussion on the conceptual coordinates on which the debate on competition and competitiveness is approached. This paper presents a theoretical-interpretative proposal to characterize competition in the context of global production chains. To this end, a case study of the automotive industry is carried out, from which we will also deepen the analysis of how the process of modularization of production impacts on the competition between assembly plants of the same business group.
The loss of value of the automobile industry in the Greater ABC Paulista
The objective of this paper is to demonstrate the loss of value of the automobile industry in the Greater ABC Paulista, Brazil, which was the engine of Brazilian economic growth prior to the economic and financial liberalization of the 1990s. Based on historical-structural methodology, in the Latin American tradition of center and periphery studies, it is evident that in the last three decades, the region has undergone a productive reconfiguration, in which the automotive industry has shrunk considerably, not only because of domestic economic crises, but also due to governance decisions in the value chains of the major foreign automakers.
Retos y desafíos de las cadenas globales de valor
This article discusses some recent issues related to the evolution of global value chains (GVCs). In particular, it analyses the role that recent developments in labour costs, institutional and technological factors can play in modifying the map of global trade and production. Additionally, the article focuses on the relationship between GVCs and the labour market, arguing that this dimension of analysis is key to fully understanding the consequences of productive reorientation, which however remains largely unexplored in the literature
El futuro de la cadena de valor global de la industria del automóvil: transformación y nuevos retos
This paper reflects on the main challenges facing the automotive industry and their impact on the elements of the global value chain. Advanced mobility linked to autonomous vehicles, connectivity and sustainability have been identified as the key factors that are transforming the value chain. The companies linked to the advanced mobility have acquired a high level of decision-making power, participating in the activities with the highest added value and technological innovation, and reconfiguring the governance model and the productive geography of the traditional global value chain
Global Value Chains: the Rise (and Fall?) of Deep Globalisation
This paper analyzes the role played by global value chains (GVCs) in the maintenance of the mass production paradigm from the 1980s onwards, relating the decline in the participation of GVCs to the fracture of this paradigm. The second part analyzes the emergence of the new techno-economic paradigm of ICTs, concluding that, although it will not cause the collapse of globalization, it will change its nature. Finance, investment, knowledge, technology and values will continue to spread globally, but production will move increasingly closer to consumption. But cross-border value chains will continue to expand, and will be predominantly regional rather than global.
The role of the State in the public provision of care: new strategies and impacts on women workers in the sector. Basque Autonomous Community’s case.
Basque Autonomous Community’s care system has turned overwhelmed with the outbreak of the pandemic, reflecting the exhaustion of a Social Services model which is increasingly abandoned by public administrations. Moreover, it has shown the risks this implies for sector’s workers, users, and the population as a whole. With the aim of deepening in the dismantling process of public care system, the following study aims to analyze the main dynamics in the reconfiguration of public strategy in this regard, as well as its impact on sector’s working conditions. In order to carry out the research, an own methodology based on social care model has been developed. Results show that carried out strategies, involving the slowing down of public spending, the privatization of services, and the prioritization of cash transfers are impacting negatively on jobs’ quality. It is thus confirmed that the withdrawal of Basque Government in relation to care contributes to its devaluation, as well as to the precariousness of women who carry these works out.
Evolution of precariousness in Europe in a context of economic crisis and pandemic
This work proposes an approximation for the comparative measurement of the advance of job insecurity in the member economies of the European Union in recent years (2000-2021) through the detection and treatment of those variables that characterize the phenomenon in the community context. With this objective, it incorporates, on the one hand, the consideration and correlations of the variables that allow us to approach the repercussions for the quality of employment and working conditions of the recent economic changes, and on the other, to show comparatively the state of the situation and evolution of precariousness in the different regions integrated into the community project. All this with the purpose of detecting the differential economic and institutional factors that allow us to explain distinctive situations in the set of economies analysed.