Determinants of foreign direct investment on some Latin American countries
DOI:
https://doi.org/10.35319/lajed.20055252Keywords:
Foreign investment, Foreign direct investment, PrivatizationAbstract
The research work pretends to expose the determinant factors that encourage foreign firms to invest and operate in the nineteen latin-american countries, solely, by the conditioning factors approach that represent the intrinsic characteristics of these countries in the attraction of investment, and not (as a function of) the internal factors of the investing firms. As such, this study tries to corroborate to what extent the Foreign Direct Investment (FDI) is a function of the size of the market, the commercial aperture, the country risk, labour costs of these countries and the atypical investments inputs - privatization and unexpected FDI inputs -. In this context, a brief theoretical description is done in order to give way to a descriptive analysis, which is formalized by econometric models that contemplate panel data for nineteen countries and with a timeframe comprised between 1990 and 2003.
Downloads
References
Altamonte C., Gugliano C., Competing locations? Market potential and FDI in Central and Eastern Europe vs the Mediterranean, LICOS Centre for Transition Economics, Discussion Paper Nº 108, 2001.
Artal A., Fernández I., Domingo M., Efectos de la inversión extranjera directa de la OCDE sobre los flujos comerciales de argentina durante los años 90, Jornadas de relaciones económicas entre la Unión Europea y el MERCOSUR, Valencia, 2001.
Artal A., Inversión Extranjera Directa OCDE – Argentina: Un análisis de sus factores comerciales, Tesis Doctoral, Universidad de Valencia 2003.
Banco Mundial, World Development Indicators – CD R., 2003.
Bank Interamerican of Development BID –, Inversión extranjera directa en América Latina, la perspectiva de los principales inversores, Instituto de relaciones Europeas Latinoamericanas IRELA1998
Bisang R. Gómez G., Las inversiones en la industria argentina en la década de los noventa Serie Reformas Económicas Nº 41 CEPAL, Noviembre 1999..
Bergstrand J., The gravity equation in international trade: some microeconomic foundations and empirical evidence”, Review of Economics and Statistics, vol. LXVII, n.3, 1985.
Bittencourt C., Domingo R., Los determinantes de la IED y el impacto en el MERCOSUR”, Departamento de Economía facultad de Ciencias Sociales Universidad de la República Argentina, documento trabajo Nº-, 2002.
Brainard S., An empirical assessment of the proximity-concentration trade off between multinational sales and trade, The American Economic Review, vol.87, n. 4, 1997.
Brenton P., Di Mauro F., The Potential Magnitude and impact of FDI flows to CEECs, CEPS working document, forthcoming, 1997.
Buckley P. J. y Casson M.C. Multinational enterprises in the world economy. Edwurad Elgar, Worcester, 1992
Carr D., Markusen J., Maskus K.,Estimating the knowledge – capital model of the multinational enterprise, NBR, working paper Nº 6773.
Carstensen K., Toubal F,. Foreign Direct Investment in Central and Eastern European Countries: A Dynamic Panel Analysis, Kiel Institute for World Economics Duesternbrooker Weg 120, Germany, 2003.
CEPAL, Informe, La inversión en América Latina y el Caribe. 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004
CEPAL, Anuario Estadístico – CD R.2002.
CEPAL, La inversión extranjera en América Latina y el Caribe, Informe LC/G.2198-P 2002la, Santiago de Chile, 2002.
CEPAL, La competitividad internacional y el desarrollo nacional: implicancias para la política de Inversión Extranjera Directa (IED) en América Latina, Serie 107, Santiago de Chile, 2001.
CEPAL, Anuario Estadístico – CD R., 2003.
Clausing K., Does multinacional activity displace trade?, Economic Inquirí, Nº 38/2, 2000.
Costa C., Factores de atracción para la inversión extranjera en la economía Brasilera y repercusiones sobre su especialización internacional, Universidad Técnica de Lisboa documento trabajo de CDIN/SEG, 2003.
Dickerson W. Hogue, The Foreign Investment Decisión Making Process, Association for education in internacional business Proceding, 1967.
Dunning J., Trade, location of economic activity and MNE: a search for an eclectic approach, in Ohlin B., Hesselborn P., Wijkman P., (eds.), The international allocation of economic activity, London, MacMillan, 1977.
Dunning J., International production and the multinational enterprise, London, George Allen and Unwin. 1981.
Dunning, J., Re-evaluating the benefits of foreign direct investment, Transnational Corporations, Vol. 3, N° 1, 1994.
Forte Rosa, The relationship between foreign direct investment and international trade. Substitution or complementarity? A survey, Universidad de Porto, Centro de Estudios de Economía industrial, do trabalho e da empresa CETE, trabalhos em curso nº 140, 2004
Gao, T, Ethnic Chinese Networks and International Investment: Evidence from inward FDI in China, Manuscript, University of Missouri, 2000.
Head K., Ries., Overseas investment and firm exports, Review of International Economics Nº 9/1,2 001.
Helpman, E. y Paul Krugman, Market Structure and Foreign Trade. Cambridge (Mass), MIT Press. 1985
Hymer Stephen, Empresas multinacionales: la internacionalización del capital, Buenos Aires – Argentina, Ediciones Periferia SRL 1972.
Hryniuk U., What are the main determinants of the FDI inflows in the Belarus?, Thesis of Master of Arts in Economics 2003, National University Kyev-Mohila Academy Ucrania, 2003.
International Monetary Found- International Financial Statistics CD-R -September 2004-.
Konings J. Murphy A., Do Multinational Enterprises Relocate Employment to Low Wage Regions? Evidence from European Multinationals, LICOS Centre for Transition Economics, Discussion Paper Nº 131, 2003.
Krugman Paul, Geografía y Comercio, Antoni Bosch Editor, Barcelona, 1992
Markusen, James R.y Venables A. J., The Theory of Endowment, Intraindustry, and Multinational Trade, NBER Working Paper 5529, 1996
Martin C, Velázquez F, Determinants of bilateral foreign direct investment flows in the OECD, with a closer look at the former communist countries, European Economy Group, Working paper Nº 2/2000.
Morsink R., Foreign Direct Investment and Corporate Networking: A framework for spatial analysis of investment conditions, New Horizons in international business, 1998.
Pfaffermayr, M., Foreign outward direct investment and export en Austrian manufactturing: substitutes or complementary?, Weltwirtschaftliches Archiv, Nº 132/3., 1996.
Ramirez A; Inversión extranjera en México: Determinantes y pautas de localización, Tesis Doctoral, Universidad Autónoma de Barcelona 2002.
Resmini L., The Determinants of Foreign Direct Investment into the CEECs: New Evidence from Sectoral Patterns Centre for Transition Economics, Katholieke Universiteit Leuven, Discussion Paper 83/1999, Belgium, 1999.
Smarzynska B. y Wei S, Corruption and composition of foreign direct investment: Firm – level evidence, National Bureau of economic research inc, working paper Nº 7969, 2000
United Nations Conference on Trade and Development, UNCTAD, Handbook of statistics 1990, 1995, 2000, 2001, 2002, 2003, 2004.
United Nations Conference on Trade and Development, UNCTAD, World Investment Report, 2000, 2001, 2002, 2003, 2004.
United Nations Conference on Trade and Development, UNCTAD, Country Profiles - Statistics on FDI and the operations of TNCs, Argentina, Brazil, Bolivia, Chile Colombia, Costa Rica, Ecuador, El Salvador, Honduras, Mexico, Nicaragua, Paraguay, Peru, Dominic Republic, Uruguay, Venezuela.
UNCTAD, Informe sobre las inversiones en el Mundo; Las políticas de IED como impulsoras del 2003 desarrollo: Perspectivas nacionales e internacionales, 2003.
www.freedomhause.org
Zhang y Markusen, Vertical Multinationals and Host Country Characteristics, Journal of Development Economics, 1999.
