Abstract

HERRERA HEREDIA, María  and  CUMANDA MONTESDEOCA, Lourdes. Influence of Direct Spanish Investment in Colombia, Ecuador and Peru. E&c [online]. 2019, vol.2, n.9, pp.359-382. ISSN 2477-9245.  https://doi.org/10.37228/estado_comunes.v2.n9.2019.133.

The aim of this article is to measure the contribution that flows of Spanish Foreign Direct Investment (FDI) have had in the GDP of Colombia, Ecuador and Peru, given that Spain has long been an important supplier of capital not only for these three countries but also for the entire region. In the case of these 3 economies, the entry FDI amounts have been very significant in recent years, with 1,233 million in 2016 and 2,285 million in 2017 as a whole. In addition to the econometric estimations, a critical analysis has been considered about the theoretical-conceptual framework of FDI in Latin America and a description of the official statistics provided by the Economic Commission for Latin America and the Caribbean (ECLAC), as well as official data from the Central Banks of Colombia, Ecuador and Peru and the Ministry of Industry, Commerce and Tourism of Spain. Results of the quantitative research establish that there is a corrected positive elasticity between the total of FDI over GDP, of 0.48, which explains a median dependence between the capital flows of Spain and the growth of the 3 Andean economies. Additionally, the exercise also makes explicit a negative relation of the order of 0.09, in the specific case of the telecommunications sector, which is considered low, although its sign draws attention.

Keywords : Foreign Direct Investment; FDI from Spain; GDP from Colombia; GDP from Ecuador; GDP from Peru; FDI; risk; influence..

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )