Academic literature on the topic 'Capilla Mayor'

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Journal articles on the topic "Capilla Mayor"

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Collado Ruiz, María José. "Una faceta olvidada de la antigua Iglesia mayor de Granada." Boletín de Arte, no. 32-33 (March 8, 2018): 117–32. http://dx.doi.org/10.24310/bolarte.2012.v0i32-33.4262.

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El Sagrario de Granada se levanta sobre el solar liberado tras la demolición de lo que durante medio siglo fue sede de la Catedral, que a su vez se había erigido aprovechando la fábrica de una de las mezquitas aljamas de la antigua capital nazarí.Sus especiales connotaciones por ser el principal templo de la ciudad, le convirtieron en lugar predilecto en el que algunas importantes familias intentaron hacerse con una capilla funeraria.
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Capdepón Verdú, Paulino. "La capilla musical de la colegiata de Talavera de la Reina en la primera mitad del siglo XIX." Anuario Musical, no. 72 (January 22, 2018): 171. http://dx.doi.org/10.3989/anuariomusical.2017.72.07.

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Tras la etapa de esplendor que vivió la capilla musical de la Colegiata de Santa María la Mayor de Talavera de la Reina durante el siglo XVIII, asistimos por el contrario a una fase de decadencia, que se enmarca en la crisis que experimenta la música religiosa española durante el siglo XIX. Los efectos de la Guerra de la Independencia, las sucesivas desamortizaciones y la aplicación del Concordato (1851) significaron una disminución del papel de las capillas musicales eclesiásticas en la España de aquella época e incluso algunas de ellas acabaron siendo suprimidas, como es el caso de la capilla talaverana.
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Capdepón Verdú, Paulino. "La capilla musical de la colegiata de Santa María la Mayor en Talavera de la Reina." Hispania Sacra 65, no. 131 (June 30, 2013): 181–237. http://dx.doi.org/10.3989/hs.2013.007.

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Nicolau Castro, Juan. "Las esculturas del retablo mayor de la capilla de la enfermería de la V.O.T. de Madrid." Archivo Español de Arte 72, no. 286 (June 30, 1999): 133–44. http://dx.doi.org/10.3989/aearte.1999.v72.i286.749.

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Gila Medina, Lázaro. "El retablo mayor de San Francisco de Bogotá: ampliación lateral y programa escultórico." Archivo Español de Arte 91, no. 362 (May 25, 2018): 175. http://dx.doi.org/10.3989/aearte.2018.12.

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Se documenta la ampliación del retablo mayor de la iglesia de San Francisco de Bogotá por los laterales de su capilla mayor, fijando su cronología y sus autores, y se reflexiona sobre la vertebración de su programa iconográfico y su materialización escultórica.
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Cuadra Rodríguez, Gerardo. "Restauraciones en la Catedral de Santo Domingo de la Calzada." Loggia, Arquitectura & Restauración, no. 6 (December 20, 1998): 34. http://dx.doi.org/10.4995/loggia.1998.5342.

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<p>Pocas intervenciones en los últimos años han alcanzado tal grado de polémica como las realizadas en la cabecera de esta Catedral. La causa principal ha sido el traslado del magnífico Retablo Mayor de Damián Forment de la Capilla Mayor a la Capilla del Santo Cristo. El arquitecto responsable de la intervención realiza, -en las páginas que siguen-, una reflexión sobre criterios generales de restauración, al amparo de los cuales explica con detalle las circunstancias y razones que justifican el traslado y consiguientes restauraciones, ponderando los inconvenientes y ventajas de dicha actuación.</p>
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Sánchez López, Juan Antonio, and Estrella Arcos von Haartman. "La Capilla Mayor de la Catedral de Málaga: palimpsesto y escenografía pintada." Boletín de Arte, no. 20 (January 25, 2021): 423–69. http://dx.doi.org/10.24310/bolarte.1999.vi20.11660.

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La reciente intervención conservadora y restauradora llevada a cabo, con el patrocinio de Winterthur, sobre el conjunto de elementos or­namentales de la Capilla Mayor de la Catedral de Málaga constituye el punto de partida para una exhaustiva revisión historiográfica y documental de la que constituye, sin lugar a dudas, la gran empresa artística de la Málaga del Renacimiento. El descubrimiento de un importante conjunto de pinturas murales debidas al pintor italiano Cesare Arbassia y sus colaboradores (ocultas en el XVIII con motivo de la nueva configuración plástica del Altar) y las implicaciones de­rivadas del acontecimiento demuestran cómo Historia del Arte y Conservación pueden y deben caminar juntas, abriendo otras pautas metodológicas y enfoques críticos más flexibles para el análisis y comprensión plural de los productos culturales
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Bartolomé García, Fernando R. "La capilla de la Inmaculada Concepción de la catedral de Santa María de Vitoria-Gasteiz bajo patronato de los Velasco." Ars Bilduma, no. 7 (June 12, 2017): 109–27. http://dx.doi.org/10.1387/ars-bilduma.17530.

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En este artículo nos centramos en el estudio histórico artístico de la capilla de la Inmaculada Concepción de la catedral de Santa María de Vitoria-Gasteiz. En esta ocasión estudiamos el momento en el que pasó a manos de la familia de los Velasco. Para ello hemos analizando a sus distintos patronos desde el siglo XVII hasta el XX y sus aportaciones a la capilla, destacando la construcción del retablo mayor de la misma durante el siglo XVIII.
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Chicote Pompanin, María Teresa. "Una traza inédita de Juan Gómez de Mora. La reforma de la capilla mayor de Santo Domingo el Real de Madrid (1612)." Archivo Español de Arte 93, no. 371 (September 9, 2020): 291. http://dx.doi.org/10.3989/aearte.2020.19.

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Este estudio analiza dos documentos inéditos relacionados con Juan Gómez de Mora que aclaran numerosas cuestiones relativas a la reforma de la capilla mayor del monasterio de Santo Domingo el Real de Madrid.
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Rodríguez Velasco, María. "Reinterpretación de la concepción artística y los tipos iconográficos paleocristianos, bizantinos y románicos en los mosaicos del Centro Aletti (Roma): el programa iconográfico de la capilla del Colegio Mayor San Pablo (Madrid, octubre de 2009)." Hispania Sacra 69, no. 140 (January 12, 2018): 755. http://dx.doi.org/10.3989/hs.2017.047.

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La iconografía desarrollada en el ábside de la capilla del Colegio Mayor San Pablo es exponente de la obra del Centro Aletti, gran renovador del arte litúrgico actual. Su director, Marko Iván Rupnik, afirmando el valor del símbolo, reinterpreta las imágenes paleocristianas y medievales mediante el protagonismo del color y la materia como claves del lenguaje vanguardista. En esta capilla, estudiada en relación con otras obras del taller, se revela la unidad entre el mosaico y la arquitectura que decora.
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Dissertations / Theses on the topic "Capilla Mayor"

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Gunell, John, and Niklas Åhlund. "Higher capital requirements and banks’ cost of capital : An empirical study of the Swedish major banks." Thesis, Umeå universitet, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-137556.

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In the wake of the financial crisis the systemic importance of banks for the stability of the financial system became evident. Finansinspektionen classifies the banks Nordea, Skandinaviska Enskilda Banken, Svenska Handelsbanken and Swedbank as systemically important for the Swedish financial system. The Basel accords strive to increase the resilience of banks and the financial system by imposing stricter regulatory capital requirements. It is debated how these restraints affect the banks’ cost of capital which prompt the first research question of the study: How has the increase in regulation regarding the capital structure of banks affected Sweden’s major banks’ cost of capital? According to Modigliani & Miller a firm’s cost of capital is independent of its capital structure. The second research question is thus: Does the development regarding Sweden’s major bank’s cost of capital align itself with the Modigliani-Miller theorem? The purpose of the study is thus to assess how the increase in regulatory capital requirements have affected the Swedish major banks’ cost of capital and to what extent these developments align with the Modigliani-Miller theorem. The researchers utilizes a quantitative method and collected secondary data for the period 2008 to 2016 to answer the formulated hypotheses which are deduced from the theoretical framework.   The results from the study illustrate significant correlations between increased regulatory capital requirements and the cost of capital. The authors can however not assert the irrelevance of capital structure for the banks’ cost capital but find that reduced tax shields only have modest effects on the banks’ cost of capital.
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Yilmaz, Fatih. "Capital investment decisions of large industrial firms in major European countries." Thesis, University of Plymouth, 1999. http://hdl.handle.net/10026.1/2345.

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Using large-company panel data, this thesis empirically analyses investment decisions in major European countries. We particularly concentrate on three issues: the taxation of capital in the EU, the role of agency costs of debt on investment decisions, and the empirical analyses of the investment-uncertainty relationship. First, based on a dynamic system in capital and Tobin's q ratio, some simplified analytical results are derived to simulate various tax policy effects on investment. Also, for a single investment project, a model is developed to consider jointly the role of uncertainty and irreversibility in the taxation of capital. The simulation results cast doubt on the tax competition view for the domestic investment case. Second, using a Euler equation approach, an investment equation is derived to test the possible effects of agency/financial distress costs of debt on investment for UK, German and French firms. The results reveal that the agency/financial distress cost of debt does matter for the highly leveraged firms. Further, an alternative model is derived in aq theory framework to test this negative effect. The model is tested for the UK firms, and similar results are obtained. Third, by considering the product structure of firms, the firm-level investment-uncertainty relationship is tested for UK firms. Unlike previous empirical findings, the results support the two opposing views in this field. Additionally, using vector autoregression analysis, a statistical account of the aggregate investment-uncertainty relation is given for the UK. An important observation is that although the exchange rate uncertainty has negative effects on machinery and equipment investment, it has no effect on construction investment.
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Towne, Stuart. "Testing the Existence of Reputational Capital Among Major League Baseball Teams." TopSCHOLAR®, 1990. https://digitalcommons.wku.edu/theses/2922.

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The purpose of this thesis is to demonstrate the existence of reputational capital among Major League Baseball teams. Previous studies have shown that there is a strong relationship between past performance and current attendance at professional baseball games. Using reputational capital as an explanation, this paper provides a general discussion of this relationship. The discussion of reputational capital is followed by an empirical analysis which includes several model specifications designed to show the effects of past performance on current attendance. One series of models uses cross-sectional data to measure the effects in general across the league and another series of models uses time series data to show some specific examples and how the relationship holds up through time. The results of the empirical study show that there is generally a strong relationship between past performance and current attendance, although from team-to-team the magnitude of the effect varies. Consistent with economic and marketing theory, the results show that baseball teams accumulate and deplete reputational capital.
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Bastos, Arlei. "Mejorando la Calidad de Servicios para el Adulto Mayor: una Aproximación Constructivista." Tesis, Universidad de Chile, 2009. http://www.repositorio.uchile.cl/handle/2250/102091.

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Lester, Richard H. "A road less traveled Investigating the outside directors of America's corporate boards /." Diss., Texas A&M University, 2003. http://hdl.handle.net/1969/493.

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Verkhohlyad, Olha. "The development of an improved human capital index for assessing and forecasting national capacity and development." [College Station, Tex. : Texas A&M University, 2008. http://hdl.handle.net/1969.1/ETD-TAMU-3148.

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Luo, Mengyu. "Shanghai Symphony Orchestra in 'C' Major (1879 to 2010)." Thesis, Loughborough University, 2013. https://dspace.lboro.ac.uk/2134/13384.

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Shanghai Symphony Orchestra is a fascinating institution. It was first founded in 1879 under the name of Shanghai Public Band and was later, in 1907, developed into an orchestra with 33 members under the baton of German conductor Rudolf Buck. Since Mario Paci, an Italian pianist, became its conductor in 1919, the Orchestra developed swiftly and was crowned the best in the Far East by a Japanese musician Tanabe Hisao in 1923. At that time, Shanghai was semi-colonized by the International Settlement and the French Concession controlled by the Shanghai Municipal Council and the French Council respectively. They were both exempt from local Chinese authority. The Orchestra was an affiliated organization of the former: the Shanghai Municipal Council. When the Chinese Communist Party took over mainland China in 1949, the Orchestra underwent dramatic transformations. It was applied as a political propaganda tool performing music by composers from the socialist camp and adapting folk Chinese songs to Western classical instruments in order to serve the masses. This egalitarian ideology went to extremes in the notorious 10-year Cultural Revolution. Surprisingly, the SSO was not disbanded; rather it was appropriated by the CCP to create background music for revolutionary modern operas such as Taking Tiger Mountain by Strategy. The end of Cultural Revolution after Mao's death in 1976 ushered in a brand new Reform-and-Opening-up era marked by Deng Xiaoping s public claim: Getting rich is glorious! Unlike previous decades when the Shanghai Symphony Orchestra together with music it performed was made to entertain the general masses, elitism came back under a social entourage characterized by Chinese-style socialism. The concept of elite, however, is worth a further thought. Shanghai is not only home to a large number of Chinese middle class but also constitutes a promising paradise for millions of nouveau riches which resembles, to a great extent, the venture land for those Shanghailanders a century ago. This thesis, as the title indicates, puts the historical development of the Shanghai Symphony Orchestra from 1879 to 2010 in C major applying Pierre Bourdieu's cultural capital theory so as to understand how this extraordinary musical currency is produced, represented, appropriated and received by different groups of people in Shanghai across five distinct historical stages. Cultural appropriation tactics and other relevant theories such as cultural imperialism and post colonialism are also combined to make sense of particular social environment in due course. To put the SSO in C major does not infer that this musical institution and music it performed through all these years are reduced to economic analysis. Nonetheless, the inner value of music itself is highlighted in each historical period. A psychological concept affordance, first applied by Tia DeNora in music sociology, is also integrated to help comprehend how and what Chinese people or the whole nation latched on to certain pieces of music performed at the SSO in different historical phases. Moreover, musicological analysis is carried out in due course to elaborate on the feasibility of, for example, adopting Chinese folk songs to Western classical instruments and creating a hybrid music type during Cultural Revolution. Aesthetic value of music is thus realized in the meantime. Archival research is mostly used in this thesis supplemented by one focus group and one in-depth interview with retired players at the SSO. Fieldwork of this research is mainly based in the Shanghai Symphony Orchestra Archive; although materials from Shanghai Library and Shanghai Municipal Archive are also collected and made use of.
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Ball, Christopher Patrick. "Capital mobility and sudden stops consequences and policy options /." Texas A&M University, 2003. http://hdl.handle.net/1969/54.

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Earnshaw, Anthany Arthur Paul, and n/a. "The acquisition of major capital equipment by the Australian Department of Defence : a comparative analysis." University of Canberra. Administrative Studies, 1994. http://erl.canberra.edu.au./public/adt-AUC20060706.164636.

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The focus of this thesis is on the acquisition of major capital equipment within Australia's defence system. For the purposes of this analysis, major capital equipment constitute selected projects with a total value of at least $200 million. The projects selected for examination are from each of the three arms of the military service. These projects are: the Royal Australian Air Force's BLACKHAWK helicopters, the Army's PERENTIE vehicles, and the Royal Australian Navy's Australian FFG-7 FRIGATES. These projects were chosen because they share similar planning and management related characteristics. They represent substantial public sector investments. The technology used in each of the systems is available 'off-the-shelf but the way in which the systems were ultimately assembled and produced are uniquely Australian: this adaptation and local innovation involved developmental work. Since each of these projects is almost complete, a comprehensive analysis of the project has been possible. The study of these particular projects provides the basis for a comparative analysis of the acquisition of major defence projects, and facilitates the development of project planning and management 'lessons'. Since current Australian public (and private) sector policies seek to maximise the use of leading edge technology by adapting it to meet specific local requirements; the examination of these three projects provides an objective determination of the validity of such policies.
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Tong, Wai-kwong, and 唐偉光. "Capital budgeting: a major survey of the investment practices in large companies in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1989. http://hub.hku.hk/bib/B31264487.

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Books on the topic "Capilla Mayor"

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Riu-Barrera, Eduard. La Capilla de Santa Águeda del Palacio Real Mayor de Barcelona: Historia y restauraciones. Barcelona: Generalitat de Catalunya, 1999.

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Medina, Francisco Javier Martínez. El retablo mayor de la Capilla Real: La unidad religioso-política del moderno estado español : discurso leído en la solemne apertura del curso académico 1988-1989, en la Facultad de Teología de Granada. Granada: Facultad de Teología de Granada, 1987.

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Páez, Alejandro Irigoyen. De Acatita de Baján a la Capilla de San Antonio: Breve crónica franciscana y algunos datos para mayor comprensión de la guerra de independencia. Chihuahua, Chih: Programa Editorial del Ayuntamiento de Chihuahua, 1995.

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Cordero, Mabel. Genealogía de los Estévez: El español Miguel Estévez, maestro mayor de las reales obras, autor de los planos de la hermosa Capilla de la Caridad, joya de la arquitectura colonial. Montevideo: [s.n.], 1988.

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Calderón, Juan Alonso. Memorial histórico jurídico político de la Santa Iglesia Catedral de la Puebla de los Angeles, en la Nueva España: Sobre restituirla las armas reales de Castilla, León, Aragón y Navarra, que puso en la capilla mayor de su iglesia, de que ha sido despojada injustamente. Puebla: Gobierno del Estado de Puebla, Secretaría de Cultura, 1988.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. Risk Navigation Strategies for Major Capital Projects. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1.

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Turner, Philip. Capital flows in the 1980s: A survey of major trends. Basle: Bank for International Settlements, Monetary and Economic Dept., 1991.

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Prefeitos de Porto Alegre: Cotidiano e administração da capital gaúcha entre 1889 e 2012. Porto Alegre: Verbo Jurídico Editora, 2012.

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The liberalisation of Japan's financial markets: Some major themes. Basle: Bank for International Settlements, Monetary and Economic Dept., 1992.

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Office, National Audit. Progress on 15 major capital projects funded by Arts Council England. London: Stationery Office, 2003.

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Book chapters on the topic "Capilla Mayor"

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Ochieng, Edward, Andrew Price, and David Moore. "Achieving capital effectiveness and operational effectiveness and productivity." In Major Infrastructure Projects, 47–66. London: Macmillan Education UK, 2017. http://dx.doi.org/10.1057/978-1-137-51586-5_3.

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Heintzen, Jan, and Robert Harrison. "Satisfying Financial Institutions for Major Capital Projects." In Essential Readings in Light Metals, 534–38. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2013. http://dx.doi.org/10.1002/9781118647851.ch79.

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Heintzen, Jan, and Robert Harrison. "Satisfying Financial Institutions for Major Capital Projects." In Essential Readings in Light Metals, 534–38. Cham: Springer International Publishing, 2016. http://dx.doi.org/10.1007/978-3-319-48156-2_79.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "Introduction." In Risk Navigation Strategies for Major Capital Projects, 1–7. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_1.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "A New Strategic Planning Model." In Risk Navigation Strategies for Major Capital Projects, 109–17. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_10.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "Redefining the Project Execution Strategy." In Risk Navigation Strategies for Major Capital Projects, 123–43. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_11.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "Allocating Risk at the Contract Level." In Risk Navigation Strategies for Major Capital Projects, 145–57. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_12.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "Enhancing the Effectiveness of Project Teams." In Risk Navigation Strategies for Major Capital Projects, 159–69. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_13.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "Closing Remarks." In Risk Navigation Strategies for Major Capital Projects, 173–75. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_14.

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Rolstadås, Asbjørn, Per Willy Hetland, George Farage Jergeas, and Richard E. Westney. "Exposing the Myth of Predictability." In Risk Navigation Strategies for Major Capital Projects, 11–14. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-594-1_2.

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Conference papers on the topic "Capilla Mayor"

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Shokri, Samin, and Kelly Maloney. "Interface Management Integration for Major Capital Projects." In Abu Dhabi International Petroleum Exhibition and Conference. Society of Petroleum Engineers, 2015. http://dx.doi.org/10.2118/177943-ms.

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Tabor, T., and D. Van Oene. "Using Availability Modelling to Cost Justify Major Capital Additions." In Canadian International Petroleum Conference. Petroleum Society of Canada, 2003. http://dx.doi.org/10.2118/2003-119.

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Guevremont, Michel, and Amin Hammad. "Criticality visualization using 4D simulation for major capital projects." In 2017 Winter Simulation Conference (WSC). IEEE, 2017. http://dx.doi.org/10.1109/wsc.2017.8247966.

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Joey, Hill, Vidra Timothy, and Schnebele Karel. "Implementing Human & Organizational Performance Concepts In Major Capital Projects." In SPE Annual Technical Conference and Exhibition. Society of Petroleum Engineers, 2020. http://dx.doi.org/10.2118/201525-ms.

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Bell, Melanie C., and Jill Hosch Fisk. "Data Access And Integration For Major Capital Projects: A Case Study." In Intelligent Energy Conference and Exhibition. Society of Petroleum Engineers, 2008. http://dx.doi.org/10.2118/112203-ms.

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McHugh, Stephen, Anne Manning, and Karen Heagney. "Integration of HES into the Management of a Major Capital Project." In International Conference on Health, Safety and Environment in Oil and Gas Exploration and Production. Society of Petroleum Engineers, 2012. http://dx.doi.org/10.2118/156869-ms.

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Gishkaeva, Leila. "Human Capital In Post-Industrial Economy As A Major Development Factor." In SCTCMG 2019 - Social and Cultural Transformations in the Context of Modern Globalism. Cognitive-Crcs, 2019. http://dx.doi.org/10.15405/epsbs.2019.12.04.142.

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Granger, G., M. Marcus, N. Sitler, and N. Tannyan. "Best Practices for Conducting Factory Acceptance Tests on Major Capital Projects." In AISTech 2020. AIST, 2020. http://dx.doi.org/10.33313/380/223.

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Granger, G., M. Marcus, N. Sitler, and N. Tannyan. "Best Practices for Conducting Factory Acceptance Tests on Major Capital Projects." In AISTech 2021. AIST, 2021. http://dx.doi.org/10.33313/382/221-42413-213.

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Granger, G., M. Marcus, N. Sitler, and N. Tannyan. "Best Practices for Conducting Factory Acceptance Tests on Major Capital Projects." In AISTech 2021. AIST, 2021. http://dx.doi.org/10.33313/382/121.

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Reports on the topic "Capilla Mayor"

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Altonji, Joseph, Erica Blom, and Costas Meghir. Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers. Cambridge, MA: National Bureau of Economic Research, April 2012. http://dx.doi.org/10.3386/w17985.

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Katz, Sabrina, Miguel Algarin, and Emanuel Hernandez. Structuring for Exit: New Approaches for Private Capital in Latin America. Inter-American Development Bank, March 2021. http://dx.doi.org/10.18235/0003074.

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Structured financing solutions encompass a range of investment approaches that provide liquidity to investors without the need for a traditional equity exit event, such as a strategic sale, sale to another financial investor, or public market listing. Structuring mechanisms across the debt-to-equity spectrum determine the exit terms of the deal, therefore providing considerable downside protection to investors. Structured financing solutions are an incipient but increasingly important set of tools for investors active in Latin America to address the financing gap for companies that lack access to bank financing and are not attractive targets for traditional PE and VC players. Many investors employing these strategies are in an experimental phase, reporting new lessons learned with each deal completed. Impact investors have been among the top drivers of these structuring innovations, as they have grappled with the additional limitations associated with the straight equity model for environmental or social enterprises. However, the use of structured financing is by no means restricted to the impact investing space. Fund managers have invested USD4b in private credit deals in Latin America since 2018, more than the previous ten years combined. PE and VC investors have also increasingly employed quasi-equity and debt instruments. ACON Investments, for example, has employed mezzanine structures in several deals from its latest funds. Brazil-focused venture capital firm SP Ventures has recently begun investing from its debut venture debt fund. Growing experimentation by fund managers demonstrates the opportunity for investors across ticket sizes, strategies, and the impact-to-commercial spectrum. The structures discussed and the case studies highlighted in this report contain some of the major lessons applicable to a wide group of private capital investors in Latin America targeting certain and timely exits with consistent returns.
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Lotz, Amanda, Anna Potter, Marion McCutcheon, Kevin Sanson, and Oliver Eklund. Australian Television Drama Index, 1999-2019. Queensland University of Technology, 2021. http://dx.doi.org/10.5204/rep.eprints.212330.

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This report examines changes in the production and commissioning of Australian television drama from 1999–2019, a period marked by notable changes in the business of television in Australia and globally. More production companies now make drama in Australia; however, the fact that more companies share less than half the annual hours once produced raises concerns about sustainability. Several major Australian production companies have been acquired by foreign conglomerates and challenge the viability of domestic companies that lack access to international corporate capital and distribution. The decrease in adult drama hours commissioned by commercial broadcasters has reshaped Australian television drama more than any other change. The national broadcasters have increased their role in commissioning, particularly in children’s drama. Titles have not decreased nearly as significantly as the number of episodes per series. Commercial broadcasters’ drama decreased from an average of 21 episodes per title in 1999 to seven in 2019, a 60 per cent decrease that, along with the increasing peripheralization of soaps, has diminished available training grounds and career paths in the Australian scripted production industry.
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Martínez, André, Fadel Ugarte, and Joaquín Zentner. Desigualdad de género en la participación laboral y remuneraciones en el grupo de países CID. Inter-American Development Bank, March 2021. http://dx.doi.org/10.18235/0003179.

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La desigualdad en la participación laboral de las mujeres y su menor remuneración relativa, en comparación con los hombres, representa una de las principales fuentes de inequidad de género observada en los países de América Latina, y de los países del grupo CID en particular. Si bien es cierto, las brechas en participación laboral femenina se han reducido en las últimas tres décadas, dicha reducción ha sido apenas de 7 puntos porcentuales a nivel mundial, por lo que se vuelve necesario analizar cuáles son los factores que afectan la participación laboral femenina en la región para diseñar políticas públicas que ayuden a eliminar estos obstáculos. A partir de un modelo de Heckman para las mujeres en los países CID, encontramos evidencia que sugiere que la vida conyugal se asocia con reducciones de 19% en la probabilidad de estar ocupadas y de cerca de 17% en su remuneración real por hora trabajada. La maternidad también se asocia con reducciones en ambas variables, por 5.5% y 6.3%, respectivamente. En las parejas en las que la mujer tiene mayor número de años de escolaridad aprobados, el efecto negativo de la vida conyugal sobre su participación laboral se mitiga en 0.8%. El modelo también refleja la importancia de la educación, como indicador de capital humano, para incrementar las oportunidades de participación laboral de las mujeres y su ingreso salarial.
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Arias Ortiz, Elena, Ana Dutra, Ximena Dueñas, Gregory Elacqua, Diana Hincapie, and Sammara Soares. Vamos falar de política educacional na América Latina e no Caribe #7: Os avanços da educação no Brasil estão em risco?: Desafios e recomendações para reduzir o impacto da pandemia. Inter-American Development Bank, April 2021. http://dx.doi.org/10.18235/0003197.

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Apesar de ainda enfrentar grandes desafios, a educação pública no Brasil vinha apresentando uma trajetória favorável na última década: entre 2007 e 2018, a lacuna socioeconômica da taxa de abandono no ensino médio sofreu uma redução de 62%. No entanto, com a pandemia da COVID-19, escolas fecharam e a economia desandou. O Brasil está entre os países com o período mais longo de escolas fechadas e é o sistema educacional com o maior número de estudantes impactados pela ausencia das aulas presenciais. A transição para o ensino remoto obrigou governos locais e famílias a se adaptarem ao novo contexto, mas até maio de 2020, 40% dos municípios ainda no possuíam sequer um plano de ensino remoto. Além disso, dados de conectividade da Anatel mostram que o número de conexões móveis per capita é significativamente menor em municípios com IDH mais baixo. O presente relatório discute os resultados de pesquisas levantadas no Brasil ao longo de 2020 e evidencias empíricas na literatura nacional e internacional sobre os possíveis efeito da pandemia na educação do país. As evidências sugerem que tanto a ausencia de aulas presenciais como a redução na renda das famílias causaram danos sem precedentes nos indicadores de aprendizagem e nas taxas de abandono e amplifiquem as desigualdades socioeconômicas educacionais no país. Diante disso, discute-se algumas recomendações de políticas que podem ajudar a mitigar o impacto da pandemia nos resultados educacionais no Brasil.
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Walsh, Alex. The Contentious Politics of Tunisia’s Natural Resource Management and the Prospects of the Renewable Energy Transition. Institute of Development Studies (IDS), February 2021. http://dx.doi.org/10.19088/k4d.2021.048.

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For many decades in Tunisia, there has been a robust link between natural resource management and contentious national and local politics. These disputes manifest in the form of protests, sit-ins, the disruption of production and distribution and legal suits on the one hand, and corporate and government response using coercive and concessionary measures on the other. Residents of resource-rich areas and their allies protest the inequitable distribution of their local natural wealth and the degradation of their health, land, water, soil and air. They contest a dynamic that tends to bring greater benefit to Tunisia’s coastal metropolitan areas. Natural resource exploitation is also a source of livelihoods and the contentious politics around them have, at times, led to somewhat more equitable relationships. The most important actors in these contentious politics include citizens, activists, local NGOs, local and national government, international commercial interests, international NGOs and multilateral organisations. These politics fit into wider and very longstanding patterns of wealth distribution in Tunisia and were part of the popular alienation that drove the uprising of 2011. In many ways, the dynamic of the contentious politics is fundamentally unchanged since prior to the uprising and protests have taken place within the same month of writing of this paper. Looking onto this scene, commentators use the frame of margins versus centre (‘marginalization’), and also apply the lens of labour versus capital. If this latter lens is applied, not only is there continuity from prior to 2011, there is continuity with the colonial era when natural resource extraction was first industrialised and internationalised. In these ways, the management of Tunisia’s natural wealth is a significant part of the country’s serious political and economic challenges, making it a major factor in the street politics unfolding at the time of writing.
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Vargas-Herrera, Hernando, Pamela Andrea Cardozo-Ortiz, Clara Lía Machado-Franco, Carlos Alberto Cadena-Silva, Freddy Hernán Cepeda-López, Aura María Ciceri-Lozano, Carlos Eduardo León-Rincón, et al. Reporte de Sistemas de Pago - Junio de 2021. Banco de la República de Colombia, July 2021. http://dx.doi.org/10.32468/rept-sist-pag.2021.

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El Banco de la República, con el Reporte de Sistemas de Pago, entrega un panorama completo de la infraestructura financiera local, siendo este un producto importante de la labor de seguimiento a dicha infraestructura. Las cifras contenidas en este reporte corresponden al año 2020, período de pandemia durante el cual las medidas de confinamiento para aliviar la tensión sobre el sistema de salud generaron para Colombia, al igual que en la mayoría de los países, una fuerte reducción de la actividad económica y el consumo. Desde el comienzo de la pandemia, la Junta Directiva del Banco de la República adoptó las decisiones necesarias para otorgar al mercado amplia liquidez en pesos y dólares, garantizar la estabilidad de los mercados, proteger el sistema de pagos y preservar la oferta de crédito. El pronunciado crecimiento de los agregados monetarios reflejó la mayor preferencia por liquidez, la cual fue atendida oportunamente por el Banco de la República. Las decisiones adoptadas se realizaron mediante diferentes operaciones, las cuales fueron compensadas y liquidadas en la infraestructura financiera. Después de la introducción, la segunda sección del presente reporte de pagos analiza la evolución y el desempeño de las diferentes infraestructuras financieras. Se destaca que el sistema de pagos de alto valor CUD registró en 2020 un mayor dinamismo que el año anterior, principalmente por el aumento de los depósitos remunerados que en promedio diario realizó la Dirección General de Crédito Público y del Tesoro Nacional (DGCPTN) con el Banco de República, así como una mayor actividad del mercado de simultáneas de deuda pública. Consecuentemente con el crecimiento de la actividad en el CUD, el Depósito Central de Valores (DCV) registró una mayor actividad por el aumento del mercado monetario de deuda pública y por las colocaciones por parte del Gobierno Nacional en el mercado primario. El valor de las operaciones compensadas y liquidadas por intermedio de la Cámara de Riesgo Central de Contraparte (CRCC) continúa creciendo, jalonado principalmente por los contratos non delivery forward (NDF) peso/dólar. Con respecto a la CRCC, es oportuno mencionar que a partir de finales del año pasado esta cámara se encarga de administrar los riesgos y de compensar y liquidar las operaciones del mercado de contado peso/dólar, debido a la fusión con la Cámara de Compensación de Divisas de Colombia (CCDC). Así mismo, a partir del último trimestre del año 2020 la CRCC se encarga de compensar y liquidar el mercado de renta variable, labor que venía desempeñando la Bolsa de Valores de Colombia (BVC). En la sección tres se entrega una visión integral de los pagos en el mercado de bienes y servicios, es decir, de las transacciones efectuadas en el circuito de personas naturales y empresas no financieras. Durante la pandemia las transferencias electrónicas inter e intrabancarias, que en su mayoría son originadas por empresas, registraron un incremento tanto en número como en valor de operaciones frente a 2019. Por su parte, los pagos con tarjetas débito y crédito originados principalmente por personas naturales mostraron un comportamiento decreciente con respecto a 2019. Los pagos realizados con cheques siguen disminuyendo, presentando una tendencia a la baja muy pronunciada en el último año. Como complemento a la información sobre transferencias electrónicas, el reporte incluye en esta sección un sombreado sobre la caracterización de la población con cuenta de ahorro y corriente, empleando los datos de la encuesta del Banco de la República sobre percepción de uso de los instrumentos de pago en 2019. Se incluye también un recuadro sobre la evolución transaccional de una billetera móvil provista por una sociedad especializada en depósitos y pagos electrónicos (Sedpe), mostrando que desde su creación a finales del año 2017 ha incremento en el número de usuarios y el valor de las transacciones, con especial velocidad durante la pandemia. Adicionalmente, se presenta un diagnóstico sobre los efectos de la pandemia en los patrones de pago de la población, fundamentado en datos sobre el uso del efectivo en circulación, sobre los pagos con instrumentos electrónicos, y sobre el consumo y la confianza del consumidor. Se concluye que el desplome en el índice de confianza del consumidor y la caída en el consumo privado dieron lugar a cambios en los patrones de pago de las personas. Las compras con tarjetas de crédito y débito disminuyeron, mientras que los pagos por bienes y servicios mediante transferencia electrónica aumentaron. Estos resultados, junto con el considerable aumento del efectivo en circulación, podrían proveer indicios a favor de un posible atesoramiento del papel moneda con motivo precaución por parte de las personas y de un mayor uso del efectivo como instrumento de pago. Se incluye, además, un recuadro que presenta los principales cambios que se introdujeron en la regulación del sistema de pagos de bajo valor en el país mediante la expedición del Decreto 1692 de diciembre de 2020. La cuarta sección se refiere a las importantes innovaciones y cambios tecnológicos que se han observado en el sistema de pagos al por menor. Se destacan cuatro temas en esta línea. El primero se constituye en un punto clave para la construcción de la infraestructura financiera de pagos inmediatos. Consiste en el diseño e implementación de los llamados esquemas superpuestos, los cuales son un desarrollo tecnológico que permite una comunicación abierta entre los diferentes agentes de la cadena de pagos, logrando una alta interoperabilidad entre diferentes proveedores de servicios de pago. El segundo tema explora los avances en el debate internacional sobre la emisión de moneda digital por parte de los bancos centrales (CBDC por su sigla en inglés), con el fin de entender su posible impacto en el sistema de pagos de bajo valor y en el uso del efectivo. El tercer tema está relacionado con nuevas formas de iniciación de pagos, tales como los códigos QR, la biometría o la tecnología de comunicación de campos cercanos (NCF por su sigla en inglés). Estos cambios, aparentemente pequeños, pueden tener efectos importantes en la experiencia del usuario con el sistema de pagos de bajo valor. El cuarto tema, finalmente, es el crecimiento de los pagos vinculados con la telefonía móvil y el internet. El reporte finaliza en la sección cinco con una reseña de dos trabajos de investigación aplicada realizados en el Banco de la República en el año 2020. El primero analiza el nivel patrimonial de la CRCC, reconociendo el rol relevante que esta infraestructura ha adquirido en la compensación y liquidación de varios mercados financieros en el país. Se exploran los requerimientos de capital para las entidades de contrapartida central establecidos en algunas jurisdicciones, se identifican los riesgos que se busca cubrir desde la perspectiva del servicio que este tipo de entidades ofrece al mercado y aquellos asociados a su actividad corporativa. Se analizan los niveles patrimoniales de la CRCC a partir de lo observado en la regulación de la Unión Europea y se concluye que la CRCC cuenta con un esquema de anillos de seguridad muy similar al observado en la experiencia internacional y que su nivel patrimonial es superior al exigido por la regulación colombiana, siendo suficiente para cubrir otros riesgos. El segundo trabajo de investigación identifica y cuantifica las fuentes que utilizan las entidades participantes en el CUD para cumplir con sus obligaciones diarias contraídas en el mercado financiero local, y con su uso como herramienta de monitoreo de la liquidez intradía en condiciones normales. Leonardo Villar Gómez Gerente General
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Lazonick, William, Philip Moss, and Joshua Weitz. The Unmaking of the Black Blue-Collar Middle Class. Institute for New Economic Thinking Working Paper Series, May 2021. http://dx.doi.org/10.36687/inetwp159.

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In the decade after the Civil Rights Act of 1964, African Americans made historic gains in accessing employment opportunities in racially integrated workplaces in U.S. business firms and government agencies. In the previous working papers in this series, we have shown that in the 1960s and 1970s, Blacks without college degrees were gaining access to the American middle class by moving into well-paid unionized jobs in capital-intensive mass production industries. At that time, major U.S. companies paid these blue-collar workers middle-class wages, offered stable employment, and provided employees with health and retirement benefits. Of particular importance to Blacks was the opening up to them of unionized semiskilled operative and skilled craft jobs, for which in a number of industries, and particularly those in the automobile and electronic manufacturing sectors, there was strong demand. In addition, by the end of the 1970s, buoyed by affirmative action and the growth of public-service employment, Blacks were experiencing upward mobility through employment in government agencies at local, state, and federal levels as well as in civil-society organizations, largely funded by government, to operate social and community development programs aimed at urban areas where Blacks lived. By the end of the 1970s, there was an emergent blue-collar Black middle class in the United States. Most of these workers had no more than high-school educations but had sufficient earnings and benefits to provide their families with economic security, including realistic expectations that their children would have the opportunity to move up the economic ladder to join the ranks of the college-educated white-collar middle class. That is what had happened for whites in the post-World War II decades, and given the momentum provided by the dominant position of the United States in global manufacturing and the nation’s equal employment opportunity legislation, there was every reason to believe that Blacks would experience intergenerational upward mobility along a similar education-and-employment career path. That did not happen. Overall, the 1980s and 1990s were decades of economic growth in the United States. For the emerging blue-collar Black middle class, however, the experience was of job loss, economic insecurity, and downward mobility. As the twentieth century ended and the twenty-first century began, moreover, it became apparent that this downward spiral was not confined to Blacks. Whites with only high-school educations also saw their blue-collar employment opportunities disappear, accompanied by lower wages, fewer benefits, and less security for those who continued to find employment in these jobs. The distress experienced by white Americans with the decline of the blue-collar middle class follows the downward trajectory that has adversely affected the socioeconomic positions of the much more vulnerable blue-collar Black middle class from the early 1980s. In this paper, we document when, how, and why the unmaking of the blue-collar Black middle class occurred and intergenerational upward mobility of Blacks to the college-educated middle class was stifled. We focus on blue-collar layoffs and manufacturing-plant closings in an important sector for Black employment, the automobile industry from the early 1980s. We then document the adverse impact on Blacks that has occurred in government-sector employment in a financialized economy in which the dominant ideology is that concentration of income among the richest households promotes productive investment, with government spending only impeding that objective. Reduction of taxes primarily on the wealthy and the corporate sector, the ascendancy of political and economic beliefs that celebrate the efficiency and dynamism of “free market” business enterprise, and the denigration of the idea that government can solve social problems all combined to shrink government budgets, diminish regulatory enforcement, and scuttle initiatives that previously provided greater opportunity for African Americans in the government and civil-society sectors.
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Boletín Económico Regional: Centro, III trimestre de 2020. Banco de la República de Colombia, December 2020. http://dx.doi.org/10.32468/ber-cent.tr3-2020.

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La economía de la región Centro presentó durante el tercer trimestre de 2020 resultados adversos frente a igual periodo del año anterior, de acuerdo con las actividades de seguimiento, manteniéndose afectadas por la pandemia de covid-19. Continuó el retroceso en transporte, la construcción, el comercio, especialmente de vehículos, y el sector pecuario. Por su parte, creció el sistema financiero tanto en captaciones como en colocaciones, y particularmente sobresalió la dinámica de los desembolsos de Finagro al renglón agropecuario, impulsado por los recursos para capital de trabajo. También crecieron en el comercio exterior las exportaciones, mientras en mayor magnitud descendieron las importaciones. La inflación permaneció baja y los indicadores del mercado laboral registraron una tasa de desempleo con deterioro histórico en todas las ciudades capitales de la región.
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Boletín Económico Regional : Noroccidente, I trimestre de 2021. Banco de la República, June 2021. http://dx.doi.org/10.32468/ber-norocc.tr1-2021.

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La economía de la región Noroccidente en el primer trimestre de 2021 mostró incremento anual, dados los mejores resultados en la mayoría de los indicadores de seguimiento. Los aumentos más representativos se dieron en el comercio, incluidas las ventas de automóviles y motocicletas, así como en la industria y en la construcción en casi todas sus variables. A su vez, siguen reduciéndose los descensos en transporte y turismo. En el sector agropecuario, creció el sacrificio de ganado porcino y bovino, pero hubo menores niveles de abastecimiento, acopio de leche y producción de pollo. En el frente externo, aumentaron las exportaciones, las importaciones y el ingreso de remesas. Finalmente, la tasa de desempleo creció en Medellín por una mayor participación laboral y se redujo en Quibdó, aunque ésta última fue la tercera más alta del país; en tanto, la inflación en la capital antioqueña permaneció dentro del rango meta del Banco de la República.
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