Loading...
Publication
O papel das instituições e do investimento direto estrangeiro na performance exportadora dos países
| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 990.03 KB | Adobe PDF |
Authors
Abstract(s)
Num contexto de globalização e interdependência económica, compreender os fatores que promovem a performance exportadora dos países é essencial para reforçar a sua competitividade no comércio internacional. Este estudo analisa o impacto dos stocks de investimento direto estrangeiro (IDE) inward e outward na performance exportadora, bem como o efeito moderador da qualidade institucional nessa relação, tendo como foco as principais economias do G20. Para tal, foram estimados modelos de dados em painel, pelo método dos mínimos quadrados ordinários, para o período de 2005 a 2023, abrangendo também as subamostras do G7 e E7.
Os resultados indicam que o IDE inward exerce uma relação de complementaridade com as exportações, enquanto o IDE outward tende a reduzir os fluxos exportadores do país de origem, sugerindo uma relação de substituibilidade. Verificou-se ainda que a qualidade institucional modera os impactos de ambos os tipos de IDE na performance exportadora.
Observam-se diferenças relevantes entre economias desenvolvidas e emergentes: no G7, o IDE outward tem impacto positivo consistente, enquanto o IDE inward revela efeitos mais ambíguos; no E7, tal como no G20, o IDE inward reforça a performance exportadora, ao passo que o IDE outward tende a reduzi-la.
Em ambos grupos de países a qualidade institucional mantém o seu efeito moderador sobre o impacto do IDE na performance exportadora.
In a context of globalisation and economic interdependence, understanding the factors that promote countries' export performance is essential to strengthening their competitiveness in international trade. This study analyses the impact of inward and outward foreign direct investment (FDI) stocks on export performance, as well as the moderating effect of institutional quality on this relationship, focusing on the main G20 economies. For this purpose, panel data models were estimated using the ordinary least squares method for the period from 2005 to 2023, also covering the G7 and E7 sub-samples. The results indicate that inward FDI plays a complementary role with exports, while outward FDI tends to reduce export flows from the country of origin, suggesting a substitutability relationship. It was also found that institutional quality moderates the impact of both types of FDI on export performance. Relevant differences are observed between developed and emerging economies: in the G7, outward FDI has a consistent positive impact, while inward FDI shows more ambiguous effects; in the E7, as well as in the G20, inward FDI strengthens export performance, while outward FDI tends to reduce it. In both groups of countries, institutional quality maintains its moderating effect on the impact of FDI on export performance.
In a context of globalisation and economic interdependence, understanding the factors that promote countries' export performance is essential to strengthening their competitiveness in international trade. This study analyses the impact of inward and outward foreign direct investment (FDI) stocks on export performance, as well as the moderating effect of institutional quality on this relationship, focusing on the main G20 economies. For this purpose, panel data models were estimated using the ordinary least squares method for the period from 2005 to 2023, also covering the G7 and E7 sub-samples. The results indicate that inward FDI plays a complementary role with exports, while outward FDI tends to reduce export flows from the country of origin, suggesting a substitutability relationship. It was also found that institutional quality moderates the impact of both types of FDI on export performance. Relevant differences are observed between developed and emerging economies: in the G7, outward FDI has a consistent positive impact, while inward FDI shows more ambiguous effects; in the E7, as well as in the G20, inward FDI strengthens export performance, while outward FDI tends to reduce it. In both groups of countries, institutional quality maintains its moderating effect on the impact of FDI on export performance.
Description
Keywords
Qualidade institucional IDE inward IDE outward Performance exportadora G20 G7 E7 Dados em painel Institutional quality E7 and Panel data Outward FDI Inward FDI