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A cluster analysis of FDI in Latin America

Rosa Forte () and Nancy Santos

Latin American Journal of Economics-formerly Cuadernos de Economía, 2015, vol. 52, issue 1, 25-56

Abstract: This study contributes to the literature on FDI in Latin America using cluster analysis, a technique rarely employed in studies on this topic, to examine the FDI performance of Latin American countries. The empirical findings reveal three clusters in 2011, compared to just two in 2005. The cluster with better FDI performance (Chile, Panama, Uruguay, and Costa Rica) also performs better in terms of variables such as market size, trade openness, and human capital. Between 2005 and 2011 Argentina left the best-performing cluster and the cluster with poorer performance split into two, indicating heterogeneous evolution of economies in the region.

Keywords: Foreign direct investment (FDI); Latin America; cluster analysis (search for similar items in EconPapers)
JEL-codes: F21 F23 F59 (search for similar items in EconPapers)
Date: 2015
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Latin American Journal of Economics-formerly Cuadernos de Economía is currently edited by Raimundo Soto

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Handle: RePEc:ioe:cuadec:v:52:y:2015:i:1:p:25-56