Efecto del gasto en investigación y desarrollo en la Inversión extranjera directa a nivel global: evidencia empírica para 88 países utilizando técnicas de cointegración y causalidad con datos de panel.

The need to attract foreign direct investment (FDI) for countries of all income levels implies moving towards innovative and technological societies, however, currently 8 out of 10 nations spend less than 1% of the Gross Domestic Product (GDP) on Expenditure in Research and Development (GID) limiting its attractiveness to FDI. The objective of this research is to determine if the GID of 88 countries, using cointegration and causality techniques with panel data, has an effect on FDI at the global level. The information obtained from the World Bank (2020) for the period between 1996-2018; Dynamic models of error correction fixed effects were applied: the Group Mean Estimator (MG) and the Grouped Estimator of the Individual Mean (PMG) proposed by Pesaran (1999) for the short-term relationship; Westerlund (2007) for the long term and causality with the Granger type test (1969) proposed by Dumitrescu and Hurlin (2012). The results indicate that the GID shows a statistically significant and positive relationship with FDI globally; a 1% increase in R&D spending causes a 0.5% increase in FDI. The existence of a long-term relationship between the variables could be determined for all groups of countries; and a short-term relationship was not found for Low Income Countries (GDP), as it was also found that there is a two-way causal relationship for High Income Countries (PIA). This research recommends at a global level to maintain continuous coordination between governments-private sector-academia through public policies capable of coordinating efforts in projects of common interest. In addition, it is recommended to grant fiscal subsidies for the GID and the improvement of the quality of higher education in those groups of countries with middle or low income. Keywords: Model building and estimation; Inflation; Global perspective; Foreign direct investment; Research and development spending. JEL classification: C51, E31, F01, F21, O3

• Autore principale: Ordóñez Toro, Víctor Andrés (author)
• Natura: bachelorThesis
• Lingua: spa
• Pubblicazione: 2022
• Soggetti: <CONSTRUCCIÓN DE MODELOS Y ESTIMACIÓN><INFLACIÓN> <PERSPECTIVA GLOBAL>< INVERSIÓN EXTRANJERA DIRECTA>< GASTO EN INVESTIGACIÓN Y DESARROLLO>
• Accesso online: https://dspace.unl.edu.ec/jspui/handle/123456789/24514