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

Author

Listed:
  • Sánchez, Elmer

    (Banco Central de Reserva del Perú)

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.

Suggested Citation

  • Sánchez, Elmer, 2013. "Grado de inversión y flujos de inversión directa extranjera a economías emergentes," Working Papers 2013-010, Banco Central de Reserva del Perú.
  • Handle: RePEc:rbp:wpaper:2013-010
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    References listed on IDEAS

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    More about this item

    Keywords

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

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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