Abstract

CRUZ VASQUEZ, Miguel; MENDOZA VELAZQUEZ, Alfonso  and  PICO GONZALEZ, Beatriz. Foreign direct investment, economic opening and economic growth in Latin American. Contad. Adm [online]. 2019, vol.64, n.1. ISSN 0186-1042.  https://doi.org/10.22201/fca.24488410e.2018.1288.

The models of endogenous growth consider the Degree of Economic Openness (DEO) and the Foreign Direct Investment (FDI) as fundamental determinants of the economic growth. The objective of this article is to evaluate the impact of the DEO and FDI variables on the economic growth for eighteen Latin American countries during the period 1996-2014. Through the estimation of an Autoregressive Vectors model with panel data, the results show a dynamic relation among the three variables only for the total sample of countries and the high growth countries, but not for the low and median growth countries. We got short and long run opposite effects of the DEO on the economic growth, positive for the total sample of countries and negative for the high growth countries; while negative effects of the FDI on the growth so much for the total sample as for the high growth countries.

Keywords : Foreign direct investment; Degree of economic opening; Economic growth; Latin America; Autoregressive vectors.

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