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dc.titleInvestment Booms and Institutions: Evidence for the World and the Andean Region
dc.contributor.authorManzano, Osmel
dc.contributor.authorSaboin, José Luis
dc.contributor.orgunitCountry Department Andean Group
dc.coverageLatin America
dc.coverageSouth America
dc.date.available2022-05-17T00:05:00
dc.date.issue2022-05-17T00:05:00
dc.description.abstractThis paper provides evidence of a positive effect of institutions and reforms in initiating investment booms. We constructed an unbalanced panel of 178 countries for the period 19502019 that considered institutions and reforms at different levels and dimensions. We analyzed the effects of these variables on 159 carefully estimated investment boom episodes, controlling for the standard determinants of investment and using a battery of estimation techniques and robustness checks. Overall, marketoriented and democratic institutions favor the advent of investment booms. Structural reforms present mixed effects and in some cases these are nonlinear. While trade and capital account reform have negative effects, domestic finance, product, and labor market reforms have the opposite. Beyond institutions and reforms, we find different effects regarding external, macro, and structural variables.
dc.format.extent95
dc.identifier.doihttp://dx.doi.org/10.18235/0004260
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Investment-Booms-and-Institutions-Evidence-for-the-World-and-the-Andean-Region.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectIntegration and Trade
dc.subjectEconomy
dc.subjectInvestment
dc.subjectFinance
dc.subjectEconomic Development
dc.subjectGross Domestic Product
dc.subjectDemocracy
dc.subjectExchange Rate
dc.subjectProductive Transformation
dc.subject.jelcodeE02 - Institutions and the Macroeconomy
dc.subject.jelcodeE22 - Investment • Capital • Intangible Capital • Capacity
dc.subject.jelcodeF21 - International Investment • Long-Term Capital Movements
dc.subject.jelcodeH54 - Infrastructures • Other Public Investment and Capital Stock
dc.subject.jelcodeO16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
dc.subject.jelcodeO43 - Institutions and Growth
dc.subject.jelcodeO47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence
dc.subject.jelcodeO50 - Economywide Country Studies: General
dc.subject.jelcodeP11 - Planning, Coordination, and Reform
dc.subject.keywordsinstitutions;investment;reforms;Latin America;Venezuela;Andean Region;región andina;transformación productiva
dc.typeTechnical Notes
idb.identifier.pubnumberIDB-TN-02479
idb.operationRG-T3717
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