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dc.titlePartners or Creditors? Attracting Foreign Investment and Productive Development to Central America and Dominican Republic
dc.contributor.authorManzano, Osmel
dc.contributor.authorAuguste, Sebastián
dc.contributor.authorAlfaro, Laura
dc.contributor.authorArtana, Daniel
dc.contributor.authorTaylhardat, Adolfo
dc.contributor.authorCuevas, Mario
dc.contributor.authorPorto, Luis
dc.contributor.editorAuguste, Sebastián
dc.contributor.editorCuevas, Mario
dc.contributor.editorManzano, Osmel
dc.contributor.orgunitCountry Department Central America, Mexico, Panama and the Dominican Republic
dc.coverageCosta Rica
dc.coveragePanama
dc.coverageNicaragua
dc.coverageHonduras
dc.coverageGuatemala
dc.coverageEl Salvador
dc.coverageBelize
dc.coverageDominican Republic
dc.coverageCentral America
dc.date.available2015-02-27T00:00:00
dc.date.issue2015-02-01T00:00:00
dc.description.abstractPromotion of foreign direct investment (FDI) has been a priority policy goal in Central America, Panama and Dominican Republic for the past twenty years. Fiscal benefits are among the policies that have been used to attract it. At first sight the model followed has been fruitful. In 2013 the eight countries of the region succeeded in attracting US$ 12.7 billion, the highest level of FDI in their history. But there are question marks about how FDI will perform in future and what the incentives to promote it should be now that World Trade Organization rules on the instruments used to promote FDI in the region have changed. The present book analyzes this situation in depth. Firstly, it reviews the importance of FDI in the region as a source of financing for the external deficit. Then it reviews the findings of international economic research on the impact of FDI on growth and the factors that attract it. It highlights that far from being assured, the benefits of FDI depend on complementary factors which are often not present in the region. Subsequently the book analyzes the international evolution of FDI and the growing importance of multinationals of Latin origin. It then tackles the controversial question of the efficacy of fiscal incentives as a means to attract investment, following an innovative technical approach based on firm level data which questions whether the free zones have had a net positive impact on development. This analysis is complemented by a study of investment promotion policies, which focuses particularly on the Investment Promotion Agencies. Finally, the book outlines the prospects for FDI attraction now the sun has set on strategies based on providing fiscal incentives. It argues that a new strategy should be based on the creation of new skills and capacities through instruments designed to complement productive development policies and thereby generate positive spillovers in the economy.
dc.format.extent304;321
dc.identifier.doihttp://dx.doi.org/10.18235/0012572
dc.identifier.isbn9781597822084
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Partners-or-Creditors-Attracting-Foreign-Investment-and-Productive-Development-to-Central-America-and-Dominican-Republic.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/¿Socios-o-acreedores-Atracción-de-inversión-extranjera-y-desarrollo-productivo-en-Mesoamérica-y-República-Dominicana.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectBusiness Development
dc.subjectTax Administration
dc.subjectInvestment
dc.subjectTaxation
dc.subject.jelcodeH25 - Business Taxes and Subsidies
dc.subject.jelcodeF13 - Trade Policy • International Trade Organizations
dc.subject.jelcodeO19 - International Linkages to Development • Role of International Organizations
dc.subject.jelcodeO16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
dc.subject.jelcodeF23 - Multinational Firms • International Business
dc.subject.jelcodeF32 - Current Account Adjustment • Short-Term Capital Movements
dc.subject.jelcodeF20 - International Factor Movements and International Business: General
dc.subject.keywordsRepública Dominicana;Nicaragua;employment;promoción de inversiones;productive development policies;empleo;fiscal incentives;Belice;free zones;economic growth;Belize;Panama;El Salvador;crecimiento económico;Costa Rica;Central America;incentivos fiscales;Guatemala;Centroamérica;Honduras;Dominican Republic;clima de negocios;zonas francas;inversion extranjera directa;foreign direct investment;business climate;políticas de desarrollo productivo;investment promotion;Mesoamérica
dc.typeBooks
idb.identifier.pubnumberBooks
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