<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672003000300125</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Liberalización externa e inversión extranjera directa en Brasil, 1971-2000: una perspectiva neoestructuralista]]></article-title>
<article-title xml:lang="en"><![CDATA[Structural Liberalization and Foreign Direct Investment in Brazil, 1971-2000: A Neo-Structural Perspective]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Vernengo]]></surname>
<given-names><![CDATA[Matías]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,University of Utah Departament of Economics ]]></institution>
<addr-line><![CDATA[Salt Lake City ]]></addr-line>
<country>USA</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2003</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2003</year>
</pub-date>
<volume>62</volume>
<numero>246</numero>
<fpage>125</fpage>
<lpage>147</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672003000300125&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672003000300125&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672003000300125&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: Se presenta un modelo estructuralista de los efectos de la inversión extranjera directa (IED) sobre la inversión doméstica. El modelo desarrollado en este trabajo supone que hay un efecto positivo de la IED sobre la inversión doméstica. Sin embargo, es posible que la IED todavía produzca resultados negativos para la acumulación de capital en el país anfitrión. Esto se debe fundamentalmente al incremento de las importaciones de bienes de capital que acompañan al aumento de la IED en el período posliberalización. Se busco estimar empíricamente el modelo presentado en el artículo. La evidencia indica que los efectos de la IED en la inversión privada doméstica son significativos pero relativamente pequeños. La regresión indica que un aumento de 5% en la IED tiene un impacto de 0.25% en la inversión doméstica. Además, la información indica que el principio de aceleración es útil en la explicación de la evolución doméstica de la inversión. Un aumento de la utilización de la capacidad tiene un impacto casi de la misma magnitud sobre la inversión doméstica. Las reformas liberales emprendidas a partir del final de los años ochenta presuponían que la mayor abertura traería capitales externos, y éstos, a su vez, llevarían a una intensificación de la acumulación de capital. Mientras la entrada de capitales se ha tornado una realidad, no se concretaron mayores tasas de crecimiento.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: A structural model is presented here on the effects of foreign direct investment (FDI) over domestic investment. This model supposes that foreign direct investment has a positive effect on domestic investment. However, it is possible that foreign direct investment could have negative effects on capital accumulation in the host country. This is due mainly to the increase in imports of capital goods that were tied with increases in foreign direct investment following the post-liberalization period. The author sought to empirically estimate the model presented in this article. What the evidence showed was that the effect of foreign direct investment on total domestic investment is significant but relatively small. A linear regression indicates that a 5% increase in FDI impacts domestic investment by only 0.25 %. In addition, the data showed that the investment acceleration principle is useful in explaining the domestic evolution of investment. Increases in capacity utilization have an impact of nearly the same magnitude on domestic investment. Liberal reforms undertaken since the late 1980's presumed that a more open economy would attract external capital and this in turn would lead to intensive capital accumulation. While there has certainly been a growth in foreign capital there has not been an equivalent increase in overall growth.]]></p></abstract>
</article-meta>
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