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Alma Calderón

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Papers by Alma Calderón

Research paper thumbnail of Outward FDI in Brazil: A matter of economic growth and institutional configuration

Outward foreign direct investment (OFDI) has been a topic of interest for a long time now. For ye... more Outward foreign direct investment (OFDI) has been a topic of interest for a long time now. For years, OFDI was only reserved for firms coming from developed countries looking for ways to increase their productivity or attain new markets. During the last decades, attention has been directed towards the determinants that drive the OFDI of emerging economies. This study applies a random effects (RE) generalized least squares method to explore the determinants of OFDI in Brazil. An analysis is conducted to elucidate the implications of OFDI on Brazil' s economic growth and social development. Particularly, it verifies the repercussions of Brazilian direct investment on domestic investment, exports and tax burden. The study concludes that, even if OFDI has a positive impact on economic development, it has exacerbated social inequality by creating an asymmetric tax burden.

Research paper thumbnail of Outward FDI in Brazil: A matter of economic growth and institutional configuration

Outward foreign direct investment (OFDI) has been a topic of interest for a long time now. For ye... more Outward foreign direct investment (OFDI) has been a topic of interest for a long time now. For years, OFDI was only reserved for firms coming from developed countries looking for ways to increase their productivity or attain new markets. During the last decades, attention has been directed towards the determinants that drive the OFDI of emerging economies. This study applies a random effects (RE) generalized least squares method to explore the determinants of OFDI in Brazil. An analysis is conducted to elucidate the implications of OFDI on Brazil' s economic growth and social development. Particularly, it verifies the repercussions of Brazilian direct investment on domestic investment, exports and tax burden. The study concludes that, even if OFDI has a positive impact on economic development, it has exacerbated social inequality by creating an asymmetric tax burden.

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