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

  • Sánchez, Elmer

    (Banco Central de Reserva del Perú)

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    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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    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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    14. Wang-Sheng Lee, 2013. "Propensity score matching and variations on the balancing test," Empirical Economics, Springer, vol. 44(1), pages 47-80, February.
    15. Lucotte, Yannick, 2012. "Adoption of inflation targeting and tax revenue performance in emerging market economies: An empirical investigation," Economic Systems, Elsevier, vol. 36(4), pages 609-628.
    16. Marián Dinga & Vilma Dingová, 2011. "Currency Union and Investment Flows: Estimating the Euro Effect on FDI," Working Papers IES 2011/25, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2011.
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