Foreign direct investment and profit outflows: a causality analysis for the Brazilian economy

Fernando Seabra · Lisandra Flach

49 citations0/0 files storedRePEc: Research Papers in Economics

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International Business and FDI Global trade and economics Global Financial Crisis and Policies

Abstract

Most empirical works have focused on the effects of foreign direct investment (FDI) to exports and other economic performance indicators, whereas its impacts to profit outflows has been relatively neglected. This paper investigates the nature of the causal relationship between FDI and profit remittance in Brazil using the Granger causality test procedure developed by Toda and Yamamoto (1995). The findings in this paper indicate that FDI causes profit remittance and emphasize significant adverse long-run effects of FDI attraction policies for the Brazilian economy.

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1988Statistical analysis of cointegration vectors 1995Statistical inference in vector autoregressions with possibly integrated processes 2000FOREIGN INVESTMENT IN DEVELOPING COUNTRIES, DOES IT CROWD IN DOMESTIC INVESTMENT?1998Inference in possibly integrated vector autoregressive models: some finite sample evidence 1995The macroeconomic effects of direct foreign investment: The case of Thailand 1995Developing with Foreign Investment: Malaysia

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