El ahorro y la inversión corporativos en América Latina. Una indagación a nivel firma

Rodrigo Pérez Artica (), Fernando Delbianco () and Leandro Brufman

Revista Cuadernos de Economia, 2017, vol. 36, issue 71

Abstract: Realizamos un examen a nivel firma de la inversión y, en especial, el resultado financiero neto del sector privado no financiero de la región. Documentamos un superávit financiero neto típico de períodos de crisis y mayoritariamente en ascenso en los últimos anos. A partir de un análisis de estadística descriptiva delineamos las características más sobresalientes de este superávit y ofrecemos una primera explicación sobre la base de factores macro, microeconómicos y financieros, que es testeada con un modelo multinivel. ***** The literature shows a relatively weak performance of private investment in Latin America over the last decade. As a corollary, foreign assets formation remained at high levels throughout the same years. In this work, we begin an inquiry into the causes by undertaking a firm-level examination of the investment and, in particular, the net financial position of the private non-financial sector in the region. We document and explain the causes of a surplus financial position that is typical of periods of economic crisis, and which has mostly risen over recent years.

Keywords: corporaciones no financieras; formación de capital; ahorro; liquidez (search for similar items in EconPapers)
JEL-codes: E21 E22 G11 G3 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:col:000093:015372

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