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dc.rights.licensehttp://rightsstatements.org/page/InC/1.0/?language=eses_AR
dc.contributor.authorLevy Yeyati, Eduardoes_AR
dc.contributor.authorPanizza, Ugoes_AR
dc.contributor.authorStein, Ernestoes_AR
dc.date.accessioned2018-03-30T21:10:03Z
dc.date.available2018-03-30T21:10:03Z
dc.date.issued2002-12-19
dc.identifier.urihttp://repositorio.utdt.edu/handle/utdt/10761
dc.description.abstractIn this paper, we examine how the business and interest rate cycles in developed countries affects FDI to developing countries. After aggregating flows into three big source areas (the U.S., Europe and Japan), we find FDI flows to be countercyclical with respect to both output and interest rate cycles in the first two, whereas in Japan they display either no cyclical behavior or mild procyclical behavior. This finding is consistent with the fact that FDI outflows and local investment tend to move in opposite directions during the cycles in the U.S. and Europe, reflecting investors’ arbitrage among different investment opportunities. In sum, and contrary to what is usually claimed, we conclude that recessions in industrial countries are likely to increase FDI flows, particularly to those countries with close ties with the U.S. and Europe.es_AR
dc.description.sponsorshipPara cualquier uso del contenido del presente documento debe ponerse en contacto con el autor.es_AR
dc.format.extent38 p.es_AR
dc.format.mediumapplication/pdfes_AR
dc.languageenges_AR
dc.publisherUniversidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)es_AR
dc.relation.ispartofCentro de Investigaciones Financieras (CIF). Documentos de trabajo 02/2003
dc.rightsinfo:eu-repo/semantics/restrictedAccesses_AR
dc.subjectInversiones extranjerases_AR
dc.subjectAnálisis financieroes_AR
dc.subjectAnálisis comparativoes_AR
dc.subjectRelaciones económicas internacionaleses_AR
dc.titleThe cyclical nature of FDI flowses_AR
dc.typeinfo:eu-repo/semantics/workingPaper
dc.type.versioninfo:eu-repo/semantics/acceptedVersiones_AR


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