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Grado de inversión y flujos de inversión directa extranjera a economías emergentes

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  • Sánchez, Elmer

    (Banco Central de Reserva del Perú)

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    Abstract

    Esta investigación emplea el método de propensity score matching para estimar el efecto de la primera obtención del grado de inversión por parte de las economías emergentes sobre los flujos de inversión directa extranjera dirigidos hacia éstas, considerando la obtención del grado de inversión como un tratamiento, para lo cual se recreó las condiciones de aleatoriedad propias de un experimento natural. El método de propensity score matching se usó para la construcción de contrafactuales de economías emergentes que obtuvieron el grado de inversión en el periodo 1996-2011. Los resultados muestran que la obtención del grado de inversión permite elevar los flujos de inversión directa extranjera en los tres primeros años siguientes a ese tratamiento, sin embargo, no se encontró evidencia a favor de un efecto tratamiento permanente o de largo plazo. Estos resultados son robustos a diferentes definiciones de grupos de control y especificaciones usadas para estimar el propensity score.

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    File URL: http://www.bcrp.gob.pe/docs/Publicaciones/Documentos-de-Trabajo/2013/documento-de-trabajo-10-2013.pdf
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    Bibliographic Info

    Paper provided by Banco Central de Reserva del Perú in its series Working Papers with number 2013-010.

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    Date of creation: Aug 2013
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    Handle: RePEc:rbp:wpaper:2013-010

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    Keywords: propensity score matching; efecto tratamiento; inversión directa extranjera; calificaciones crediticias sobernas;

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