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Los determinantes de la IED y el impacto del MERCOSUR

Author

Listed:
  • Gustavo Bittencourt

    (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

  • Rosario Domingo

    (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

Abstract

This paper analyze the factors that determine the receipt of foreign direct investment (FDI) by the Mercosur’s countries, specially the roll played by the regional integration process. After taking account of a conceptual framework, which concludes in an econometric model, with the methodology used by Bittencourt & Domingo (1996), regressions were estimated in several panels for the dependent variables: total FDI, FDI corrected (less mergers and acquisit ions and privatizations), FDI from United States and FDI in manufacturing. The joint panel (forty years and four countries) confirm that we can identify a “model” of Mercosur’s FDI receipts. The internal market dynamism, the export performance and the macroeconomic stability have importance as FDI determinants. FDI corrected and FDI from United States, presented an structural change in 1986. The regional integration process impact the FDI with significant and positive net effects. These flows seem to prefer the bigger countries. The results of the panels by sector show that the internal market size and dynamic are the principal variables to define the investor’s choice between economic sectors and countries. The Mercosur’s dynamic also is important in the choice between industrial sectors.

Suggested Citation

  • Gustavo Bittencourt & Rosario Domingo, 2002. "Los determinantes de la IED y el impacto del MERCOSUR," Documentos de Trabajo (working papers) 0402, Department of Economics - dECON.
  • Handle: RePEc:ude:wpaper:0402
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    File URL: http://decon.edu.uy/publica/2002/Doc0402.pdf
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    Cited by:

    1. Vera, Cecilia & Machinea, José Luis, 2006. "Trade, direct investment and production policies," Series Históricas 16, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Rogelio Varela & Lázaro Cruz, 2016. "Inversión extranjera directa y tasa de interés en México: un análisis dinámico," Nóesis. Revista de Ciencias Sociales y Humanidades, Instituto de Ciencias Sociales y Administración, vol. 25, pages 127-150, 50.
    3. Rafael Eduardo Saavedra Leyva & Carlos H. Flores Orona, 2017. "La gobernabilidad como un determinante de la inversión extranjera directa en América Latina. (The Governance as a Determinant of Foreign Direct Investment in Latin America)," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(2), pages 123-146, October.

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