OUTWARD BRAZILIAN FOREIGN DIRECT INVESTMENT: IMPULSES AND RESPONSES
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | , |
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. |
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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 |