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Inversión extranjera directa y desarrollo humano en América Latina: ¿dependencia extractiva o transferencia tecnológica?
[Foreign Direct Investment and human development: the case of Latin America (1990-2021)]

Author

Listed:
  • Ricardo Apolinar

    (University of the Llanos)

  • Pavel Vidal

    (Pontificia Universidad Javeriana)

  • Víctor Giménez

    (Universitat Autònoma de Barcelona)

Abstract

El objetivo central de esta investigación fue analizar la relación entre la inversión extranjera directa y el desarrollo humano en Latinoamérica, desde 1990 hasta el 2021, por medio de la estimación de vectores autorregresivos tipo panel PVAR y PVEC, primero con 18 países y luego con 10 economías con una alta participación del sector minero-energético. En la estimación se tuvieron en cuenta las variables Índice de Desarrollo Humano (IDH) e Inversión Extranjera Directa (IED), mientras que las exportaciones y el Índice de Relación de Precios de intercambio (IRPI) fueron empleadas como variables de control. Se obtuvo que la IED afectó positivamente al desarrollo humano en América Latina, y fue más fuerte este efecto cuando se consideraron las economías mineroenergéticas, lo cual se podría explicar por la transferencia tecnológica, la generación de puestos de trabajo y la mejora en habilidades de la mano de obra de la economía receptora de los flujos de inversión; sin embargo, una de las limitaciones de los paneles es que generaliza las particularidades de cada economía, por lo cual es necesario seguir profundizando en las características para cada país. The main objective of this research was to analyze the relationship between foreign direct investment and human development in Latin America, from 1990 to 2021, using the estimation of panel vector autoregression (PVAR) and panel vector error correction (PVEC), first with 18 countries and then with 10 economies with a high participation of themining-energy sector. The estimation considered the variables Human Development Index (HDI) and Foreign Direct Investment (FDI), while exports and the Terms of Trade Index (TTI) were employed as control variables. The results showed that FDI positively affected human development in Latin America, with a stronger effect when mining-energy economies were considered, which could be explained by technology transfer, job creation, and the improvement of workforce skills in the host economies of investment flows. However, one limitation of panel models is that they generalize the particularities of each economy, making it necessary to further examine the characteristics of each country.

Suggested Citation

  • Ricardo Apolinar & Pavel Vidal & Víctor Giménez, 2025. "Inversión extranjera directa y desarrollo humano en América Latina: ¿dependencia extractiva o transferencia tecnológica? [Foreign Direct Investment and human development: the case of Latin America ," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 17, pages 1-25, August.
    • Handle: RePEc:col:000443:021778
    DOI: 10.14718/revfinanzpolitecon.v17.202
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    Keywords

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    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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