FDI Policies in Time of Conflict: The Case of Colombia

De Lombaerde, Philippe and Garay, Luis Jorge (2009). FDI Policies in Time of Conflict: The Case of Colombia. UNU Institute on Comparative Regional Integration Studies.

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  • Sub-type Working paper
    Author De Lombaerde, Philippe
    Garay, Luis Jorge
    Title FDI Policies in Time of Conflict: The Case of Colombia
    Volume/Issue No. 23
    Publication Date 2009
    Place of Publication Bruges
    Publisher UNU Institute on Comparative Regional Integration Studies
    Language eng
    Abstract

    This paper looks at how open FDI policies have been put in place in Colombia since the beginning of the 1990s. The authors look at the relative capacity of Colombia to attract FDI, the cost of the conflict on the economy and investment levels, and the impact of FDI on growth and development. They find that although Colombia was initially less successful in attracting FDI than its neighbours, in part becauseof the intensification of the conflict and the violence generated by the drug cartels in the beginning of the 1990s, from the mid-1990s onwards, it systematically performed slightly above the regional average with respect to attracting FDI. The available estimations of the costs of the conflict do not allow for firm conclusions about the cost in terms of foregone FDI to be drawn. Surveys among private businesses indicate, however, that the indirect costs (including foregone FDI) could be significantly higher than the outcomes of the macro-economic estimates. Finally, although there are good theoretical reasons to believe that FDI generates positive spillover effects for domestic firms, estimations with firm-level panel data do not always reveal their existence

    Keyword Colombia
    Foreign direct investment
    Copyright Holder UNU Institute on Comparative Regional Integration Studies
    Copyright Year 2009
    Copyright type All rights reserved
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    Created: Fri, 15 Feb 2019, 14:32:54 JST