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Foreign direct investment in Latin America and the Caribbean: an empirical analysis

Kevin Williams

Latin American Journal of Economics-formerly Cuadernos de Economía, 2015, vol. 52, issue 1, 57-77

Abstract: 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.

Keywords: FDI; infrastructure; constraints on the executive; debt; Latin America and the Caribbean (search for similar items in EconPapers)
JEL-codes: F21 O54 H63 (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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