Vol. 9 No. 1 (2015), MULTINACIONALES, INVERSIÓN Y FINANZAS
Vol. 9 No. 1 (2015)

Foreign direct investment and influence in Brazil: an analysis of the foreign presence in consolidated balance sheets

MULTINACIONALES, INVERSIÓN Y FINANZAS
Published 2015-04-11
Nádia Campos Pereira Bruhn
University of Goiás, Brazil
Cristina Lelis Leal Calegario
University of Lavras, Brazil
Melina Campos Pereira
University of Lavras, Brazil

Abstract

The aim of this study was to investigate whether and in what situations, a foreign presence can represent an advantage for the local economy. Data was analysed using generalised linear models for repeated measures combining the effects of the type of controlling capital and the different Brazilian regions on selected variables. In addition, GLM models of analysis were developed to seek to identify the effects of spillovers ("transbordamentos") of foreign presence based on a production function. There is no evidence that the type of controlling capital exerts a significant influence on the occurrence of spillovers. The region where foreign (entities) set themselves up is a relevant factor in the analysis of spillovers
PDF (Portuguese)

References

Ali, H.; Khan, A.A.; Pirzada, D.S.; Arif, W.; Sarwar, Z. (2012). “Technology spillover impacts on total productivity of the manufacturing sector in Pakistan”. African Journal of Business Management, Vol. 6, Num. 9, pp. 3490-3503.

Bambrilla, I.; Hale, G.; Long, C. (2009). “Foreign Direct Investment and the Incentives to Innovate and Imitate”. The Scandinavian Journal of Economics, Vol. 111, Num. 4, pp. 835–861.

Banco Central do Brasil [BACEN] (2015). Sistema Gerenciador de Séries Temporais (SGS). Senso de capitais estrangeiros no Brasil. Retrieved from: https://www3.bcb.gov.br/sgspub

Belloumi, M. (2014). “The relationship between trade, FDI and economic growth in Tunisia: An application of the autoregressive distributed lag model”. Economic Systems, Vol. 38, pp. 269–287.

Bernad, C.; Fuentelsaz, L.; Gomes, J. (2010). “The effect of mergers and acquisitions on productivity: An empirical application to Spanish banking”. The International Journal of Management Science, Vol. 38, Num. 5, pp. 283–293.

Blomstrom, M.; Kokko, A. (1998). “Multinational corporations and spillovers”. Journal of Economic Surveys, Vol. 12, pp. 247-77.

Blomstrom, M.; Kokko A.; Zejan M. (2000). “Foreign direct investment: firm and host country strategies”, London: Macmillan Press Ltd.

Britto. G. (2003). Abertura commercial e coeficiente de conteúdo importado na indústria. In Laplane, M.; Coutinho, L. & Hiratuka, C. (2003). Internacionalização e desenvolvimento da indústria no Brasil. São Paulo: Editora Unesp, Unicamp.

Buckley, P.J., Clegg, J., Wang, C. (2010). Is the relationship between inward FDI spillover effects linear? An empirical examination of the case of China. In: Buckley, P.J. Foreign Direct Investment, China and the world economy. London: Palgrave Macmillan.

Cantwell, J. (2009). “Location and the multinational enterprise”, Journal of International Business Studies, Vol. 40, pp. 35–41.

Cohen, S. D. (2007). “Multinational Corporations and Foreign Direct Investment. Avoiding Simplicity, Embracing Complexity”, Oxford: Oxford University Press.

Cohen, W. M.; Levinthal, D. A. (1989). “Absorptive capacity: a new perspective on learning and innovation”, Administrative Science Quarterly, Vol. 1, Num. 35, pp. 128-152.

De Negri, F. (2003). “Empresas estrangeiras na indústria brasileira: características e impactos sobre o comércio exterior”. In Laplane, M.; Coutinho, L.; Hiratuka, C. (2003). Internacionalização e desenvolvimento da indústria no Brasil. São Paulo: Editora Unesp.

Del Bo, C. F. (2013). “FDI spillovers at different levels of industrial and spatial aggregation: Evidence from the electricity sector”. Energy Policy, Vol. 61, pp. 1490–1502.

Gorg, H.; Greenaway, D. (2004). “Much ado about nothing? Do domestic firms really benefit from foreign direct investment?”, World Bank Research Observer, Vol. 19, Num. 2, pp. 171-197.

Hamida, L. B. (2013). “Are there regional spillovers from FDI in the Swiss manufacturing industry?” International Business Review, Vol. 22, pp. 754–769

Ivarsson, I. (2002). “Transnational corporations and the geographical transfer of localized technology: a multi-industry study of foreign affiliates in Sweden”. Journal of Economic Geography, Vol. 2, Num. 1, 221-247.

Ito, B.; Yashiro, N.; XU, Z.; Chen, X.; Wakasugi, R. (2012). “How do Chinese industries benefit from FDI spillovers?” China Economic Review, Vol. 23, pp. 342–356.

Krugman, P.; Obstfeld, M. (2005). “Economia internacional: teoria e política”, 6. ed. São Paulo: Pearson Addison Wesley, 558 p.

Liu, Z. (2008). “Foreign direct investment and technology spillovers: Theory and evidence”. Journal of Development Economics, Vol. 85, Num. 1, pp. 176–193.

Malik, A.R.A.; Rehman, C.A.; Ashraf, M.; Abbas, R.Z. (2012). “Exploring the Link between Foreign Direct Investment, Multinational Enterprises and Spillover Effects in Developing Economies”, International Journal of Business and Management, Vol. 7, Num. 1, pp. 230-240.

Mariotti, S.; Piscitello, L.; Elia, S. (2010). “Spatial agglomeration of multinational enterprises: the role of information externalities and knowledge spillovers”. Journal of Economic Geography, Vol. 10, pp. 519–538.

Nelder, J. A.; Wedderburn, R. W. M. (1972). “Generalized linear models”, Journal of the Royal Statistical Society, London, Vol. 135, Num. 3, pp. 370-384.

Phelphs, N. A. (1993). “Branch plants and the evolving spacial distribution of labour: a study of material linkage change in the northern region of England”. Regional Studies, 27, 87-102.

Pindyck, R. S.; Rubinfeld, D. L. (2005). “Microeconomia”, 6. ed. São Paulo: Prentice Hall, 641 p.

Organisation for Economic Co-operation and Development [OECD] (2013). FDI IN Figures, April 2013. Foreign Direct Investment (FDI) Statistics - OECD Data, Analysis and Forecasts.

Silva, M. L. (2003). “A inserção internacional das grandes”. In Laplane, M.; Coutinho, L.; Hiratuka, C. (2003). Internacionalização e desenvolvimento da indústria no Brasil. São Paulo: Editora Unesp.

Sivalogathasan, V.; Wu, X. (2014). “The effect of foreign direct investment on innovation in south asian emerging markets”. Global Business and Organizational Excellence. Vol. 33, Num. 3, pp. 63-76

Thang, T. T. (2011). “Productivity Spillovers from Foreign Direct Investment: What if Productivity is no Longer a Black Box?”, South East Asian Journal of Management, Vol. 5, Num. 1, pp. 1-18.

Tsai, D.; Lin, M. (2005). “Industrial and Spatial Spillovers and Productivity Growth: Evidence from Taiwan High-Technology Plant Level Data”, Journal of Productivity Analysis, Vol. 23, pp. 109–129.

United Nations Conference on Trade and Development [UNCTAD] (2003). FDI Policies for development: national and international perspectives. 2003. New York, NY: United Nations. Disponível em: < http://www.unctad.org>. Acesso em: 15 jul. 2011.

United Nations Conference on Trade and Development [UNCTAD] (2007). “Crescimento pulverizado do investimento direto estrangeiro em 2006”, Disponível em: <http://www.sobeet.org.br/DOWNLOAD/WIR_06/ >. Acesso em: 14 nov. 2007.

United Nations Conference on Trade and Development [UNCTAD]. (2014). Global FDI Rose by 11%: Developed Economies are Trapped in a Historically Low Share. Global Investment Trends Monitor, United Nations, Nº 15.

United Nations Conference on Trade and Development [UNCTAD]. (2015) Global FDI Flows Declined in 2014: China Becomes The World’s Top FDI Recipient. Global Investment Trends Monitor, United Nations, Nº 18.