Does foreign direct investment cause higher levels of productivity or do higher levels of productivity attract foreign direct investment? A study in transforming brazilian industry

Autores

  • Nádia Campos Pereira Universidade Federal de Goias
  • Cristina Lelis Leal Calegario Universidade Federal de Lavras
  • Ricardo Pereira Reis Universidade Federal de Lavras

DOI:

https://doi.org/10.5007/2175-8077.2013v15n35p82

Palavras-chave:

investment decision, foreign investors, transforming Brazilian industry

Resumo

With this research, it was aimed to investigate the factors that determine the investment decision of foreign investors in the Brazilian industry. Evidence shows that foreign investors are attracted not only by more productive and best performing sectors, but depending on the adopted strategy, they may choose investment projects in sectors that have lower performance levels which offer the potential for growth and the and improvement of efficiency levels and capacity. Granger causality test indicated that not only foreign investment gives more productivity gains, but also this productivity induces more foreign investment inputs. Foreign investors are also attracted by those sectors, which use their assets in an inefficient way in order to generate profits. These sectors may be attractive to foreign investors that want to invest in a more aggressive growth policy in order to get advantages on the availability of inefficiently used assets. These sectors may be also attractive targets to investors who seek to compete directly in relatively less competitive sectors.

Biografia do Autor

Nádia Campos Pereira, Universidade Federal de Goias

Nádia Campos Pereira

Mestre em Administração pela Universidade Federal de Lavras

Professora do Departamento de Administração, Universidade Federal de Goiás

Av. Dr. Lamartine Pinto Avelar, 1120, Setor Universitário, Catalão, Goiás – Brasil, CEP: 75.704-020. Tel: (64) 8141 2292 e Fax: (64) 3441-5336

E-mail: nadiacpereira@yahoo.com.br

Cristina Lelis Leal Calegario, Universidade Federal de Lavras

Cristina Lelis Leal Calegario

Doutora em Economia pela Universidade da Georgia

Professora do Departamento de Administração e Economia, Universidade Federal de Lavras

Campus Universitário, Caixa Postal 3037, Lavras, Minas Gerais – Brasil, CEP: 37.200-000. Tel (35) 3829 1457

E-mail: ccalegario@dae.ufla.br

Ricardo Pereira Reis, Universidade Federal de Lavras

Ricardo Pereira Reis

Doutor em Economia pela Universidade de Viçosa

Professor do Departamento de Administração e Economia da Universidade Federal de Lavras

Campus Universitário, Caixa Postal 3037, Lavras, Minas Gerais – Brasil, CEP: 37.200-000. Tel (35) 3829 1457

E-mail: ricpreis@ufla.br

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Publicado

2013-04-03

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