FOREIGN DIRECT INVESTMENT IN LATIN AMERICA AND THE CARIBBEAN: AN EMPIRICAL ANALYSIS
Competition for foreign direct investment (FDI) among developing countries has intensified in recent years. Using a sample of 68 developing countries across different regions, with data from 1975-2005, this paper investigates whether Latin America and the Caribbean (LAC) differs from non-LAC regions...
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| Lenguaje: | English |
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Pontificia Universidad Católica de Chile. Instituto de Economía.
2015
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| Acceso en línea: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100003 |
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| Sumario: | Competition for foreign direct investment (FDI) among developing countries has intensified in recent years. Using a sample of 68 developing countries across different regions, with data from 1975-2005, this paper investigates whether Latin America and the Caribbean (LAC) differs from non-LAC regions in regard to determinants of FDI; the evidence suggests that there are differences. In particular, the stock of infrastructure attracts FDI to LAC and constraints on the executive and high debt discourage FDI to non-LAC. These findings are robust to sample size, different estimators, endogeneity, and country fixed effects. |
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