The Revista Galega de Economía/Galician Journal of Economics (RGE/GJE) is published twice a year. It was founded in 1992 and it is promoted by the Faculty of Economics and Business Administration of the University of Santiago de Compostela. Its aim is to promote academic research by publishing original articles that meet the highest analytical standards and provide new ideas that contribute to and disseminate economic and business knowledge.  The RGE/GJE is an international peer-reviewed open access journal.  The articles published are related to specialities in the fields of economics and business (marketing and market research, applied economics, financial economics and accounting, economics, sociology and agricultural policy, fundamentals of economic analysis, economic history and institutions, business organization and quantitative economics); it is also open to other fields as long as it contributes significantly to addressing problems of economics and business management. The target audience is made up of academics, researchers, professionals, business executives and public decision-makers.

The RGE/GJE has the quality imprint of the FECYT and is indexed in SCOPUS, ESCI, Dialnet, InDICEs-CSIC, IDEAS-RePEc, REDALYC, REDIB, DOAJ, and ERIH PLUS, among others. It is also included in different tools for the analysis of scientific journals such as MIAR, Latindex or CIRC. 

The digital portal of RGE/GJE is published in Galician, Portuguese, Spanish, and English. The articles published are in Galician, Portuguese, Spanish, and English. 


Galician Journal of Economics 2023 Award


We are pleased to announce the 2023 Most Cited Paper Awards for the Galician Journal of Economics. This Award go to the research papers published in 2021 that received the highest numbers of citations according to Scopus in 2021-2023. This year, the Award goes to: 

Vaz, R. (2021). Firm Growth: A review of the empirical literature. Revista Galega de Economía30(2), 1-20. 

Congratulations to the award-winning paper and thank to all authors for their contributions to the Galician Journal of Economics! 

More Announcements...

Technological innovation clusters and shared value creation

  • Jonathan Cuevas Lizama
  • Marcelo Royo-Vela
Published 13-03-2024

The effects of companies on society and the practices of Corporate Social Responsibility have been studied in numerous research studies. Questioning the traditional model let Porter and Kramer to develop the concept of Creating Shared Value, an approach where companies consider the value of society and the environment in their business models. We take the edge of the clusters to determine how the grouped companies understand and create shared value, identifying its antecedents and consequences. Using the multiple case study technique in a technology cluster focused on driving innovative ideas and new business development, we were able to identify that the cluster becomes a propitious scenario to create shared value, since the participants benefit from resources and skills that allow them to grow in their businesses, promoting competitiveness and innovation and contributing to the economic, social and environmental growth of stakeholders.

Intangible assets and their effects on business performance: an analysis for Colombian companies

  • Alberto Méndez-Morales
  • Camilo Anzola-Morales
  • Liliana Elizabeth Ruiz-Acosta
  • David Andrés Camargo-Mayorga
Published 20-02-2024

Intangible assets (IAs) are fundamental for the creation of firm value. However, the literature is inconclusive regarding the relationship between IAs and profitability. This paper uses financial data from Colombian firms from 2005 to 2015 to determine if this relationship exists. Thirty dynamic panel models have been used to see whether IAs are related to Return on Equity, Return on Assets, Earnings Before Interest and Taxes, Earnings Before Interest, Taxes, Depreciation, and Amortization, Gross margin, and Net margin. The results, despite a limited sample size and missing variables, are related to the literature in that they signal the negative relationship between IAs and profitability. Thus, the capitalized value of IAs seems to negatively affect Colombian firms' performance in the short and long term.

Are there differences in the perception of climate change among farmers? Empirical evidence in the Mediterranean basin

  • Julia M. Núñez Tabales
  • Francisco José Rey-Carmona
Published 14-03-2024

The agricultural sector in Mediterranean latitudes is one of the most affected by climate change, mainly characterized by the incidence of prolonged droughts that jeopardize crop productivity. The main objective of this study is to analyze the perceptions of climate change among irrigation farmers located in the Mediterranean basin. Through hierarchical cluster analysis, three typologies of farmers were identified, revealing differences in three sets of factors: (1) awareness of adverse climatic events that have caused damages to their crops in recent years, (2) sociodemographic characteristics of the farmers, and (3) attributes of their farms. The results should be taken into consideration to enhance the understanding of farmers' perceptions when formulating government policies and potential adaptations related to climate change and agriculture.

The Impact of the Education Sector in the Norte Chico and Patagonia Macroterritories

  • Sergio Soza-Amigo
  • Lorena Paredes
Published 01-03-2024

This article contrasts whether the sectors with a GDP close to the average contribute more to the economic system through their employment multipliers and/or dispersion effects than those with a higher GDP. To achieve this, an 11-year horizon (2008-2018) and the 11 main centers of Chile's macro territories [Norte Chico (6) and Patagonia (5)] are used as a reference. The input-output matrices are used as source of information from which the variables GDP, employment multiplier and dispersion coefficients are obtained, the latter understood as those that allow quantifying the scope of the repercussions of an economic activity, by means of its direct and/or indirect effects. The results allow us to conclude that economic activities with a GDP close to the average, such as that of the education sector, show diffused effects that support the idea of facilitating development through changes in their production versus others that, with high GDPs, show concentrated effects that therefore limit their contribution in terms of interaction. These results will contribute to the establishment of economic development policies according to the particularities of each territory.

Time Banking and Social Capital Creation: a Transaction Data Analysis

  • María Ángeles Carnero
  • Blanca Martínez
  • Rocío Sánchez-Mangas
Published 25-04-2024
This article uses transaction data from three time banks located in Barcelona to analyze their potential to generate bonding and bridging social capital for their members. Regarding bonding social capital, the findings are in line with the related literature in terms of the average number of trading partners and the ego-network density. However, reciprocity is a more frequent form of behavior in our data than in other time banks from other countries. Concerning bridging social capital and considering different age groups, the results show slight evidence of homophilic behavior, although intergenerational transactions are also present, being more frequent between more similar age groups. Finally, we explore the influence of age on the time it takes for members to engage in transactions, which could somehow be related to their potential motivations behind joining a time bank.

The Influence of Inclusive Leadership on the Well-Being of Employees

  • Ramón Rueda-López
  • Jaime Aja-Valle
  • Lucía García-García
  • María J. Vázquez-García
Published 21-03-2024

Among the different managerial styles of leadership, inclusive leadership has a particular relevance because, through its basic characteristics of openness, accessibility and availability of managers, employees can see their esteem and feeling of belonging to the group improve. This improvement can ultimately increase the degree of well-being at work. This research has been carried out through a survey of 193 working people about their perception of the inclusive leadership style and their level of well-being at work. The PLS-SEM methodology has been used for the statistical treatment of the data. The main conclusion obtained in this research is that an inclusive leadership style has a positive effect on people's well-being at work. Inclusive leadership improves job satisfaction, the feeling of being respected and emotional accessibility. These conclusions and findings support the idea that it is necessary to train managers in skills linked to labor inclusion.

Dematerialization and the economic crisis – are they parallel paths? Assessments based on the EU-15 case study

  • Pablo Alonso Fernández
  • Rosa María Regueiro Ferreira
  • Xoán Ramón Doldán García
Published 14-03-2024

This paper investigates how the consumption of material resources has evolved over the last 20 years in the member states that make up the European Union-15, with the aim of analyzing whether there is dematerialization in these countries and which sectors are leading the way. The material footprint is used as an indicator of material consumption, since it indicates all the resources required by an economy. Using data from the material footprint and GDP, a model has been proposed to allow dematerialization in the EU-15 to be studied. The main results show that dematerialization has only occurred conjuncturally since the 2008 crisis, with the GDP-material-footprint coupling subsequently being restored.

Challenges and prospects for activating a circular economy in the context of sustainable waste management in Algeria

  • Mahfoudh Hassaine
  • Belaid Abrika
Published 21-11-2023

The article deals with the problem of waste management in Algeria. It aims to analyze the various policies undertaken by the government in order to be able to respond to the principles of sustainable development and the circular economy from the perspective of sustainable and integrated waste management. The analyses carried out show that the first waste management strategies in Algeria are more reactive and constitute a response to the crisis of the proliferation of waste. It is only from the year 2016 that the national integrated waste management strategy constitutes a perspective of registration of this sector in a circular approach of profitability and sustainability.

Plastic Waste Management in Morocco: A Sociological Reflection about the Informal Sector in the Circular Economy

  • Iria Vázquez Silva
  • Javier de Rivera Outomuro
Published 10-11-2023

This article presents a case study on the link between the management of plastic waste in Morocco (mainly in Casablanca and Rabat) and the divergent working conditions of workers (formal and informal) that conforme the sector, in the context of transformation of the sector towards the Circular Economy (CE). To such an end, we take into account the perspective of multiple experts in the field, as well as the public administration in charge of managing the transition process, the private business sector and the informal collectors themselves. This approach allowed us to understand the complexities and nuances of the transition of waste management in Morocco and to identify the main challenges in terms of social justice associated with the change towards a Circular Economy.

Protein for Scraps: A Study of the European Union “Circular” Raw Materials Trade

  • Leandro J. Llorente-González
Published 21-03-2024

The shift from the current extractive linear production and consumption system to a circular economy (CE) has been heralded as a way to reduce the negative environmental and social impacts of human economic activity. The European Union (EU) has committed to leading the way to a worldwide CE, with the development of an international market of recyclable raw materials (RRM) as one of the main pillars of its strategy. However, there is extensive evidence regarding the unequal distribution of the economic benefits and environmental damages related to international trade. Therefore, the objective of a global fair transition to a CE may be undermined if the related markets continue to reproduce the prevailing patterns of ecologically unequal exchange. In order to test whether or not this is the case, this research studies the physical trade balance and the terms of trade on the recent RRM trade flows from, to and between the EU27 member states.

Circular business models for the electrical and electronics equipment and e-waste sector. Measures for their dissemination and implementation in Mexico

  • Sugey de Jesús López Pérez
Published 16-04-2024
This paper highlights the importance of business models with a Circular Economy (CE) approach to change the harmful dynamics underlying the value chain of the Electrical and Electronics sector and to reduce waste. The objective is to identify measures, particularly financial and fiscal ones, which are suitable to design and disseminate Circular Business Models (CBMs) in Mexico. The policy package methodology has been used, whose procedure includes a literature review and a sectoral and environmental regulation diagnosis, as well as a plan of measures along with comparisons in order for there to be a comprehensive package. A conclusion drawn is that the systemic alignment of CE in Mexican environmental regulation is a necessary step to redirect sustainable production and consumption patterns. It is possible to implement CBMs with an adequate interface and synergies between government and business sector strategies at the different stages of the Electrical and Electronic Equipment (EEE) value chain. In particular, tax and financial measures influence agents' investment and savings behavior and their cost and expenditure provisions and can thus guide circularity patterns.

The New Ecodesign Regulations: Towards More Circular Products?

  • Beltrán Puentes Cociña
Published 19-04-2024

The circular economy strategy of the European Union has undertaken one of its objectives, which is the need to reform ecodesign legislation, and has therefore approved several regulations for specific product categories that, for the first time, regulate material efficiency aspects such as product durability and repairability. The Commission's proposal for a new ecodesign framework regulation seeks to extend the scope of the current directive and generalize the use of durability and repairability requirements. This paper explores what role the principles of the circular economy should play for product eco-design and how sufficient the latest regulatory reforms have been in promoting products that are more circular. Important steps have been taken, such as the obligation to provide spare parts for several products, but there are still some weaknesses regarding the scope of application, the lack of legislative development and the role of the industry in the creation of the standards.

The Regional Firm Density and the Growth of Firms in the Portuguese Textile and Clothing Industry

  • Rolando Vaz
Published 16-05-2024

This paper focuses on the relationship between the regional firm density and the growth of firms in the Portuguese textile and clothing industry to investigate how their geographic clustering influences said growth. Despite the concentration of this industry in the Northern region of Portugal in only four poles, our results show that the location of firms in the cluster is not relevant for growth when the whole industry is considered. However, disaggregate analysis shows that the clothing industry does exhibit both location externalities and cross-location effect, while textile manufacture exhibits neither. In addition, our empirical evidence reveals that the growth of firms located in the cluster is positively correlated with external finance. This result suggests that location becomes a solvency signal for firms, and, specifically, this might help to explain why textile manufacturers firms are located in the cluster. These findings are relevant for entrepreneurs and Portuguese policymakers, as it jeopardizes the optimal allocation of scarce resources in the Portuguese textile cluster.

Vol 32 No 3 (2023)

Published: 2023-12-01

Table of contents

Municipal capital gains tax in Galicia: What can we learn to improve the fiscal capacity of this tax?

  • Alberto Vaquero García
  • Miguel Ángel Santirso Fernández
Published: 26-07-2023
Pages 1-23

Sports celebrity endorsement impact on purchase intention

  • Francisco Moreira
  • Inês Pereira
  • José Duarte Santos
  • Paulo Botelho Pires
Published: 20-08-2023
Pages 1-21

Market crises and benchmark-adjusted fund alphas in a small market context

  • Fernando Lopes
  • Paulo Leite
  • Maria Carmo Correia
  • Pablo Durán-Santomil
Published: 09-10-2023
Pages 1-17

The effect of socioeconomic factors, fear of crime and social mobilization on the evaluation of judiciary decisions

  • Manuel Ruiz-Adame
  • Susana Martínez-Rodríguez
  • Jose Antonio Posada-Pérez
Published: 13-11-2023
Pages 1-24
View All Issues