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Inversión extranjera y restricción externa en el Mercosur: conclusiones preliminares y temas de investigación [Foreign investment and constraints to Mercosur: preliminary conclusions and research subjects]

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  • Gustavo Bittencourt

    () (Universidad de la República)

Abstract

This paper identifies some issues to build a research agenda on the effects of transnationalization and economic development among Mercosur countries. The first section discusses an analytical framework for the understanding of the relation between Foreign Direct Investment (FDI) and the balance of payments constraints to growth in developing countries, assuming that different "types of FDI" may affect such constraints in opposite directions, according to alternative theories. Section II contains a historical perspective of transnationalization in these countries, using a long-run FDI series analysis and resuming some characteristics of the last period. Finally, in the third section, some preliminary conclusions are outlined, attempting to meet the analytical framework and the empirical stylized facts, which allow to identify some issues or topics for such a research agenda.

Suggested Citation

  • Gustavo Bittencourt, 2003. "Inversión extranjera y restricción externa en el Mercosur: conclusiones preliminares y temas de investigación [Foreign investment and constraints to Mercosur: preliminary conclusions and research subj," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 13(1), pages 11-46, January-J.
  • Handle: RePEc:nov:artigo:v:13:y:2003:i:1:p:11-46
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    Keywords

    transnational corporations; foreign direct investment; Mercosur; development;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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