OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES

Detalhes bibliográficos
Autor(a) principal: de Oliveira Concer, Ronald
Data de Publicação: 2010
Outros Autores: Araujo Turolla, Frederico, Margarido, Mário Antonio
Tipo de documento: Artigo
Idioma: por
Título da fonte: Internext
Texto Completo: https://internext.espm.br/internext/article/view/101
Resumo: This paper models the outward foreign direct investment from Brazil series using time a series econometrics model, namely the Vector Auto Regressive (VAR) model. We have drawn impulse response functions for the key relevant factors that may explain the outward foreign direct investment flows. We start with a review of the literature on the Dunning location approach to international business. We worked with a data set of quarterly observations from Q1-1995 to Q1-2010. We carried also out Granger causality tests as for determining whether international business travelling should be included as an explanatory variable in our model. Results stressed that although the strong exchange rate in Brazil is often blamed for forcing companies to invest abroad, the evidence found in the aggregate data suggests that there is not a significant relationship between the level of foreign exchange rate and the outward Brazilian foreign direct investment. Differently from previous studies, this paper uses impulse response functions to present dynamic results, thus avoiding the typical binary results “affect” or “don’t affect”, and in so doing we provide a more detailed insight into this important location factor.
id ESPM-2_e95aaac29870d48bfd6c0bc0b01f1efa
oai_identifier_str oai:ojs.emnuvens.com.br:article/101
network_acronym_str ESPM-2
network_name_str Internext
repository_id_str
spelling OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSESOUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSESInternational business. Brazilian foreign direct investment. Exchange rates. Latin American Financial Markets. Vector Auto Regressive.This paper models the outward foreign direct investment from Brazil series using time a series econometrics model, namely the Vector Auto Regressive (VAR) model. We have drawn impulse response functions for the key relevant factors that may explain the outward foreign direct investment flows. We start with a review of the literature on the Dunning location approach to international business. We worked with a data set of quarterly observations from Q1-1995 to Q1-2010. We carried also out Granger causality tests as for determining whether international business travelling should be included as an explanatory variable in our model. Results stressed that although the strong exchange rate in Brazil is often blamed for forcing companies to invest abroad, the evidence found in the aggregate data suggests that there is not a significant relationship between the level of foreign exchange rate and the outward Brazilian foreign direct investment. Differently from previous studies, this paper uses impulse response functions to present dynamic results, thus avoiding the typical binary results “affect” or “don’t affect”, and in so doing we provide a more detailed insight into this important location factor.This paper models the outward foreign direct investment from Brazil series using time a series econometrics model, namely the Vector Auto Regressive (VAR) model. We have drawn impulse response functions for the key relevant factors that may explain the outward foreign direct investment flows. We start with a review of the literature on the Dunning location approach to international business. We worked with a data set of quarterly observations from Q1-1995 to Q1-2010. We carried also out Granger causality tests as for determining whether international business travelling should be included as an explanatory variable in our model. Results stressed that although the strong exchange rate in Brazil is often blamed for forcing companies to invest abroad, the evidence found in the aggregate data suggests that there is not a significant relationship between the level of foreign exchange rate and the outward Brazilian foreign direct investment. Differently from previous studies, this paper uses impulse response functions to present dynamic results, thus avoiding the typical binary results “affect” or “don’t affect”, and in so doing we provide a more detailed insight into this important location factor.Escola Superior de Propaganda e Marketing - ESPM2010-12-23info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://internext.espm.br/internext/article/view/10110.18568/1980-4865.51132-147Internext - International Business and Management Review ; Vol. 5 No. 1 (2010); 132-147Internext; v. 5 n. 1 (2010); 132-1471980-4865reponame:Internextinstname:Escola Superior de Propaganda e Marketing (ESPM)instacron:ESPMporhttps://internext.espm.br/internext/article/view/101/97Copyright (c) 2015 Internextinfo:eu-repo/semantics/openAccessde Oliveira Concer, RonaldAraujo Turolla, FredericoMargarido, Mário Antonio2023-03-27T20:32:38Zoai:ojs.emnuvens.com.br:article/101Revistahttps://internext.espm.br/internextPRIhttps://internext.espm.br/internext/oaiinternext@espm.br1980-48651980-4865opendoar:2023-03-27T20:32:38Internext - Escola Superior de Propaganda e Marketing (ESPM)false
dc.title.none.fl_str_mv OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
title OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
spellingShingle OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
de Oliveira Concer, Ronald
International business. Brazilian foreign direct investment. Exchange rates. Latin American Financial Markets. Vector Auto Regressive.
title_short OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
title_full OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
title_fullStr OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
title_full_unstemmed OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
title_sort OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
author de Oliveira Concer, Ronald
author_facet de Oliveira Concer, Ronald
Araujo Turolla, Frederico
Margarido, Mário Antonio
author_role author
author2 Araujo Turolla, Frederico
Margarido, Mário Antonio
author2_role author
author
dc.contributor.author.fl_str_mv de Oliveira Concer, Ronald
Araujo Turolla, Frederico
Margarido, Mário Antonio
dc.subject.por.fl_str_mv International business. Brazilian foreign direct investment. Exchange rates. Latin American Financial Markets. Vector Auto Regressive.
topic International business. Brazilian foreign direct investment. Exchange rates. Latin American Financial Markets. Vector Auto Regressive.
description This paper models the outward foreign direct investment from Brazil series using time a series econometrics model, namely the Vector Auto Regressive (VAR) model. We have drawn impulse response functions for the key relevant factors that may explain the outward foreign direct investment flows. We start with a review of the literature on the Dunning location approach to international business. We worked with a data set of quarterly observations from Q1-1995 to Q1-2010. We carried also out Granger causality tests as for determining whether international business travelling should be included as an explanatory variable in our model. Results stressed that although the strong exchange rate in Brazil is often blamed for forcing companies to invest abroad, the evidence found in the aggregate data suggests that there is not a significant relationship between the level of foreign exchange rate and the outward Brazilian foreign direct investment. Differently from previous studies, this paper uses impulse response functions to present dynamic results, thus avoiding the typical binary results “affect” or “don’t affect”, and in so doing we provide a more detailed insight into this important location factor.
publishDate 2010
dc.date.none.fl_str_mv 2010-12-23
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://internext.espm.br/internext/article/view/101
10.18568/1980-4865.51132-147
url https://internext.espm.br/internext/article/view/101
identifier_str_mv 10.18568/1980-4865.51132-147
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://internext.espm.br/internext/article/view/101/97
dc.rights.driver.fl_str_mv Copyright (c) 2015 Internext
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2015 Internext
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Escola Superior de Propaganda e Marketing - ESPM
publisher.none.fl_str_mv Escola Superior de Propaganda e Marketing - ESPM
dc.source.none.fl_str_mv Internext - International Business and Management Review ; Vol. 5 No. 1 (2010); 132-147
Internext; v. 5 n. 1 (2010); 132-147
1980-4865
reponame:Internext
instname:Escola Superior de Propaganda e Marketing (ESPM)
instacron:ESPM
instname_str Escola Superior de Propaganda e Marketing (ESPM)
instacron_str ESPM
institution ESPM
reponame_str Internext
collection Internext
repository.name.fl_str_mv Internext - Escola Superior de Propaganda e Marketing (ESPM)
repository.mail.fl_str_mv internext@espm.br
_version_ 1793890309109710848