Ahorro y comercio internacional como determinantes de la inversión en Latinoamérica durante el siglo XX

Saving and opennes as determinants of investment in Latin America during the twentieth century

Rafael Alexis Acevedo Rueda, José U. Mora Mora and Pedro alexander Harmath Fernández

MPRA Paper from University Library of Munich, Germany

Abstract: The present work studies to the saving and international trade as determinants of the investment in the Latin-American countries during 1951-2000 using data panel technique. The empirical results show that the differentials of rates of investment, between the Latin American countries, are caused, among others, by these determinants. It is demonstrated that by each 10 points of increase of the saving or the rate of saving, it causes an increase of 0.05 points in the rate of growth of the investment. As far as the international trade it is possible to be indicated that while exists policies that allow to increase it to 10% of the GIP, political happiness they would cause that the rate of growth of the investment increased 0.01 points. Finally, the results allow to conclude that the power of the economic policies oriented to increase the rate of investment in the Latin American countries could be improved if these come accompanied from incentives to the saving, the international trade and the economic growth, otherwise these effects would be diluted in the time.

Keywords: saving; openness; investment; panel data (search for similar items in EconPapers)
JEL-codes: C23 E22 G31 N46 O16 (search for similar items in EconPapers)
Date: 2009-12, Revised 2010
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Published in Economía y Desarrollo 9.1(2010): pp. 67-86

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