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Corrientes internacionales de capital e inversión extranjera de cartera. El caso de México, 1989-1999

Author

Listed:
  • Márquez Pozos, Jorge Miguel

    (El Colegio de la Frontera Norte)

  • Islas Camargo, Alejandro

    (Instituto Tecnológico Autónomo de México)

  • Venegas-Martínez, Francisco

    (Oxford University)

Abstract

In this paper, we study the main determinants of foreign investment in Mexico by means of a causality analysis with econometric techniques. We introduce a suitable country risk indicator and test for unit roots in the variables of the model. Moreover, we carry out test of cointegration in vector autoregressive models with error correction. Finally, we study the variance decomposition and the impulse-response function of the proposed vector autoregressive model.// En este artículo se estudian los principales determinantes de la inversión extranjera de la cartera en México por medio de un análisis de causalidad con técnicas econométricas. Se introduce un indicador adecuado del riesgo país y se realizan pruebas de raíz unitaria en las variables del modelo. Posteriormente se efectúan pruebas de cointegración y se aplica la metodología de vectores autorregresivos con corrección de errores. Por último, se estudia la descomposición de la varianza y la función impulso-respuesta del modelo econométrico propuesto.

Suggested Citation

  • Márquez Pozos, Jorge Miguel & Islas Camargo, Alejandro & Venegas-Martínez, Francisco, 2003. "Corrientes internacionales de capital e inversión extranjera de cartera. El caso de México, 1989-1999," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(280), pages 791-833, octubre-d.
    • Handle: RePEc:elt:journl:v:70:y:2003:i:280:p:791-833
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    More about this item

    Keywords

    corrientes internacionales de capital; inversión extranjera; modelado econométrico;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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