TY - JOUR
T1 - Foreign Direct Investment and human development in Colombia
T2 - the case of energy mining sector (1990–2021)
AU - Cárdenas, Ricardo Alexander Apolinar
AU - Alejandro, Pavel Vidal
AU - Castro, Javier Díaz
N1 - Publisher Copyright:
Cómo citar: Apolinar-Cárdenas, R. A., Vidal Alejandro, P., & Díaz Castro, J. Inversión extranjera directa, desarrollo humano y sector minero energético: El caso de Colombia (1990–2021). Revista De Métodos Cuantitativos Para La Economía Y La Empresa, 38. https://doi.org/10.46661/rev.metodoscuant.econ.empresa.9610
PY - 2024
Y1 - 2024
N2 - The main purpose of this research was to analyze the relationship between total Foreign Direct Investment (FDI) and the mining and energy sector in human development in Colombia from 1990 to 2021, through the estimation of two Autoregressive Vectors -VAR- that accounted for the causal relationship of the variables. The first vector took into account the total FDI, while the second one dealt with the FDI of the mining and energy sector, which from 2003 to 2010 represented, on average, 55% of the total FDI, with the peak year being 2010, when it reached 76% of it. Also, two Error Correction Vectors -EVC- were estimated as a robustness test that confirmed the results obtained. In the two estimations, the Human Development Index (HDI), Foreign Direct Investment (FDI) and the Real Exchange Rate Index (RERI) were taken into account as endogenous variables, while WTI reference oil prices at 2015 prices were considered exogenous. A result, the HDI caused total FDI, in the Granger sense, while for mining and energy FDI had not significance. Thus, an increase of 1% in HDI generated a rise of 10.15% in total FDI inflow.
AB - The main purpose of this research was to analyze the relationship between total Foreign Direct Investment (FDI) and the mining and energy sector in human development in Colombia from 1990 to 2021, through the estimation of two Autoregressive Vectors -VAR- that accounted for the causal relationship of the variables. The first vector took into account the total FDI, while the second one dealt with the FDI of the mining and energy sector, which from 2003 to 2010 represented, on average, 55% of the total FDI, with the peak year being 2010, when it reached 76% of it. Also, two Error Correction Vectors -EVC- were estimated as a robustness test that confirmed the results obtained. In the two estimations, the Human Development Index (HDI), Foreign Direct Investment (FDI) and the Real Exchange Rate Index (RERI) were taken into account as endogenous variables, while WTI reference oil prices at 2015 prices were considered exogenous. A result, the HDI caused total FDI, in the Granger sense, while for mining and energy FDI had not significance. Thus, an increase of 1% in HDI generated a rise of 10.15% in total FDI inflow.
KW - capital humano
KW - crisis
KW - crisis
KW - desarrollo económico
KW - economic development
KW - extractive
KW - extractivo
KW - human capital
KW - Oil sector
KW - Sector petrolero
UR - http://www.scopus.com/inward/record.url?scp=85213464311&partnerID=8YFLogxK
U2 - 10.46661/revmetodoscuanteconempresa.9610
DO - 10.46661/revmetodoscuanteconempresa.9610
M3 - Article
AN - SCOPUS:85213464311
SN - 1886-516X
SP - 1
EP - 31
JO - Revista de Metodos Cuantitativos para la Economia y la Empresa
JF - Revista de Metodos Cuantitativos para la Economia y la Empresa
IS - 38
ER -
