Regional Differences in the Determinants of Investment Decisions of Private Firms in Brazil

Carlos Azzoni and Aquiles Kalatzis ()

ERSA conference papers from European Regional Science Association

Abstract: This study takes on an important part or regional growth, that is, the investment decisions of private firms. The question asked is: do corporations decide on investments in the same way in different parts of the territory? The paper analyses investments of 482 large Brazilian firms in the period 1996-2004. The role of sales, cash-flow, external financing, and working capital is investigated through regression analysis, following the literature on firm investment decisions. Regional dummies used to capture differences in the role of those determinants indicate that there are significant differences across regions. This is important information for regional development policy, for different mechanisms should be used in different regions in order to foster private investments.

Date: 2006-08
New Economics Papers: this item is included in nep-cse, nep-geo and nep-lam
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Persistent link: https://EconPapers.repec.org/RePEc:wiw:wiwrsa:ersa06p161

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