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Consideraciones sobre la relación entre la inversión privada y los factores socio-políticos y judiciales en Venezuela y América Latina
[Considerations on the relationship between private investment and social-political and judicial factors in Venezuela and Latin America]

Author

Listed:
  • Acevedo Rueda, Rafael Alexis
  • Mora Mora, José U.

Abstract

This paper studies how the socialpolitical and judicial factors have affected private investment in Venezuela and Latin America for the period 1995-2003 by means of panel data analysis. In the case of Venezuela, there is evidence that the fall in the investment rate in Venezuela has been caused by these factors. In this way, it is necessary that not only the Venezuelan government but also the other Latin American governments begin working on the creation and strengthening of institutions so that risks are reduced and stability is enhanced. In this way, it is possible to endorse a sustained economic growth and better standards of living for Latin American citizens.

Suggested Citation

  • Acevedo Rueda, Rafael Alexis & Mora Mora, José U., 2008. "Consideraciones sobre la relación entre la inversión privada y los factores socio-políticos y judiciales en Venezuela y América Latina [Considerations on the relationship between private investment," MPRA Paper 58685, University Library of Munich, Germany, revised 08 Oct 2009.
    • Handle: RePEc:pra:mprapa:58685
    as

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    File URL: https://mpra.ub.uni-muenchen.de/58685/1/MPRA_paper_58685.pdf
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    References listed on IDEAS

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    2. Pedroni, Peter, 2004. "Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis," Econometric Theory, Cambridge University Press, vol. 20(3), pages 597-625, June.
    3. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(2), pages 465-490.
    4. Rudiger Dornbusch & Sebastian Edwards, 1991. "The Macroeconomics of Populism," NBER Chapters, in: The Macroeconomics of Populism in Latin America, pages 7-13, National Bureau of Economic Research, Inc.
    5. Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
    6. Charles S. Mataya & Michele M. Veeman, 1996. "The Behaviour of Private and Public Investment in Malawi," Canadian Journal of Economics, Canadian Economics Association, vol. 29(s1), pages 438-442, April.
    7. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
    8. Quan V. Le, 2004. "Political and economic determinants of private investment," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 589-604.
    9. Mr. Paolo Mauro, 1996. "The Effects of Corruption on Growth, Investment, and Government Expenditure," IMF Working Papers 1996/098, International Monetary Fund.
    10. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(S1), pages 653-670, November.
    11. Rudiger Dornbusch & Sebastian Edwards, 1991. "Introduction to "The Macroeconomics of Populism in Latin America"," NBER Chapters, in: The Macroeconomics of Populism in Latin America, pages 1-4, National Bureau of Economic Research, Inc.
    12. repec:bla:obuest:v:61:y:1999:i:0:p:653-70 is not listed on IDEAS
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    Cited by:

    1. Aboal, Diego & Noya, Nelson & Rius, Andrés, 2014. "Contract Enforcement and Investment: A Systematic Review of the Evidence," World Development, Elsevier, vol. 64(C), pages 322-338.

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    More about this item

    Keywords

    private investment; institutions; political stability; Latin American economies; panel data.;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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