Contraste de los factores de la atracción de inversión extranjera directa en el sector de servicios en Costa Rica
Fecha
2023-05-05
Autores
Navarro Rodríguez, Raquel
Vargas Céspedes, José Pablo
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ISSN de la revista
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Editor
Universidad Nacional, Costa Rica
Resumen
La presente investigación tiene como objetivo fundamental analizar los determinantes de la
Inversión Extranjera Directa (IED) en el sector servicios de Costa Rica. Para el análisis de los
factores, se procederá a realizar una investigación descriptiva y correlacional, ya que el propósito
de la investigación es identificar, ponderar y analizar el comportamiento y relación de los
factores, cuando estos varían a través del tiempo, y como dinamizan los flujos de IED.
Durante el período de estudio 2000-2019, el promedio de IED en servicios fue de $404M,
alcanzando su nivel máximo en el año 2014 con $1,117M, un crecimiento anual de un 21.6%.
Posterior al año 2014, la IED en servicios ha tenido una tendencia decreciente, alcanzando tan
sólo $540M en el 2019. Si bien la tendencia ha sido decreciente, en 2019 la IED en servicios
representó un 19.9% del total de sectores, sobrepasada únicamente por el sector manufactura
con un 57.9%, según datos del BCCR. Dadas las tendencias que aquí mencionamos, y la volatilidad
de la IED durante la última década, es de interés de la investigación identificar los factores que
dinamizan este comportamiento para el sector servicios.
Las inversiones del sector servicios, si bien no registran grandes montos de capital, como las
de manufactura, son mucho más intensivas en generación de empleo de calidad, exportaciones
de alto valor agregado, cantidad de proyectos de inversión y mejoras sustantivas en la
productividad laboral del país (Sequeira, 2018).
De acuerdo al reporte de Global Location Trends del 2019 de IBM, Hungría y Costa Rica
continúan apareciendo entre los primeros países en cuanto a creación de empleo de la IED en
relación con el tamaño de la población. Esto confirma sus posiciones como hot spots tanto para
la manufactura como para los servicios en Europa Central y América Central, respectivamente
(Institute for Business Value [IBM], 2019, p. 5).
Las empresas multinacionales atendidas por CINDE generaron 16,718 empleos brutos y 10,141
netos a diciembre 2019, una cifra récord para la institución. Las 308 empresas multinacionales
apoyadas por CINDE representan un total de 118,245 empleos formales y de calidad (Coalición
Costarricense de Iniciativas en Desarrollo [CINDE], 16 de diciembre de 2019), esta cifra refleja la
importancia que representan los flujos de IED en términos de desarrollo.
Así, el presente trabajo pretende identificar y ponderar los factores que estimulan los flujos
de IED en el sector de servicios en Costa Rica a partir del año 2000 hasta el 2019. Se espera que
mediante el análisis detallado de la evolución de los flujos de IED en el sector servicios durante
este período, así como la indagación acerca de cómo los agentes financieros y bancarios perciben
la situación del sistema económico, se aclaren los mecanismos económicos que dinamizan los
flujos de IED, y así aportar al diseño de políticas públicas regulatorias y comerciales que
favorezcan la estabilidad del sistema económico local de una manera proactiva, y no reactiva.
Las políticas públicas relacionadas al fomento de la IED deben ser aquellas que cumplan a nivel
nacional con una política industrial que ayude a la transformación de la estructura productiva,
deben ser políticas que fomenten la inserción de Costa Rica en la economía global y finalmente
políticas integrales entre sectores.
Las recomendaciones en materia de política pública de la CEPAL están relacionadas a políticas
de promoción, políticas de incentivos y estrategias de focalización o targeting (Comisión
Económica para América Latina y el Caribe [CEPAL], 2007). De esta forma, se busca que las
políticas públicas sean desarrolladas en torno a las capacidades que debe tener el capital
humano, de acuerdo con los requisitos y tendencias de las industrias en las cuales la IED crece
más dinámicamente. Debe considerarse además, los encadenamientos productivos que la IED
genera en otros sectores productivos, para así desarrollar las políticas comerciales óptimas.
En el Capítulo 1 se evalúan los antecedentes históricos del desarrollo de comercio exterior en
Costa Rica. Además, se justifica el valor de la investigación desde un enfoque de desarrollo, y se
plantea el problema y los objetivos de la investigación. En el Capítulo 2 se elabora el marco
teórico, donde se estipula la base teórica del estudio. En el Capítulo 3 se detalla el marco
metodológico que describe el enfoque, tipo, sujetos y fuentes de la investigación con el fin de
determinar y ponderar los factores que dinamizan los flujos de IED en Costa Rica. En el Capítulo
4 se crea y analiza el modelo econométrico de la IED Servicios como variable dependiente, junto
al salario mínimo, el PIB de los Estados Unidos y el tipo de cambio como variables independientes.
En el Capítulo 5 se detallan las conclusiones y recomendaciones del estudio según los resultados
de la investigación. A continuación, se presentan los antecedentes.
The main objective of this research is to analyze the determinants of the Foreign Direct Investment (FDI) in the services sector of Costa Rica. For the analysis of the factors, a descriptive and correlational investigation will be carried out, since the purpose of the investigation is to identify, ponder and analyze the behavior and relationship of the factors, when these vary over time, and how they stimulate FDI flows. During the study period 2000-2019, the average FDI in services was $404M, reaching its maximum level in 2014 with $1,117M, an annual growth of 21.6%. After 2014, FDI in services has had a downward trend, reaching as only $540M in 2019. Although the trend has been downward, in 2019 FDI in services represented 19.9% of the total sectors, surpassed only by the manufacturing sector with 57.9%, according to data from the BCCR. Given the trends mentioned here, and the volatility of FDI during the last decade, it is of research interest to identify the factors that stimulate this behavior for the services sector. Investments in the services sector, although they do not record large amounts of capital, such as manufacturing, are much more intensive in generating quality employment, exports of high added value, number of investment projects and substantial improvements in the labor productivity of the country (Sequeira, 2018). According to the 2019 IBM Global Location Trends report, Hungary and Costa Rica continue to appear among the top countries in terms of FDI job creation in relation to the size of the population. This confirms their positions as hot spots for both manufacturing and services in Central Europe and Central America, respectively (Institute for Business Value [IBM], 2019, p. 5). The multinational companies served by CINDE generated 16,718 gross jobs and 10,141 net as of December 2019, a record figure for the institution. The 308 multinational companies supported by CINDE represent a total of 118,245 formal and quality jobs (Coalición Institute of Development Initiatives [CINDE], December 16, 2019), this figure reflects the importance of FDI flows in terms of development. 14 Thus, this paper aims to identify and weigh the factors that stimulate the flows of FDI in the service sector in Costa Rica from the year 2000 to 2019. It is expected that through detailed analysis of the evolution of FDI flows in the services sector during this period, as well as the inquiry about how financial and banking agents perceive the situation of the economic system, the economic mechanisms that stimulate the FDI flows, and thus contribute to the design of regulatory and commercial public policies that favor the stability of the local economic system in a proactive, and not a reactive manner. Public policies related to the promotion of FDI must be those that comply at the with an industrial policy that helps to transform the productive structure, they must be policies that promote the insertion of Costa Rica in the global economy and finally comprehensive policies across sectors. ECLAC's public policy recommendations are related to policies promotion, incentive policies and targeting strategies (Commission Economic Policy for Latin America and the Caribbean [CEPAL], 2007). In this way, it is sought that the public policies are developed around the capabilities that capital must have according to the requirements and trends of the industries in which FDI grows more dynamically. In addition, the productive chains that FDI generated in other productive sectors, in order to develop optimal trade policies. Chapter 1 evaluates the historical background of the development of foreign trade in Costa Rica. In addition, the value of research is justified from a development approach, and it is State the problem and the objectives of the investigation. In Chapter 2 the framework is elaborated. theoretical, where the theoretical basis of the study is stipulated. Chapter 3 details the framework methodological framework that describes the approach, type, subjects and sources of the research in order to determine and weigh the factors that stimulate FDI flows in Costa Rica. In the chapter 4 the econometric model of FDI Services is created and analyzed as a dependent variable, together with to the minimum wage, US GDP and the exchange rate as independent variables. Chapter 5 details the conclusions and recommendations of the study based on the results. Of the investigation. Below is the background. Thus, this paper aims to identify and weigh the factors that stimulate the flows of FDI in the service sector in Costa Rica from the year 2000 to 2019. It is expected that through detailed analysis of the evolution of FDI flows in the services sector during this period, as well as the inquiry about how financial and banking agents perceive the situation of the economic system, the economic mechanisms that stimulate the FDI flows, and thus contribute to the design of regulatory and commercial public policies that favor the stability of the local economic system in a proactive, and not a reactive manner. Public policies related to the promotion of FDI must be those that comply at the with an industrial policy that helps to transform the productive structure, they must be policies that promote the insertion of Costa Rica in the global economy and finally comprehensive policies across sectors. ECLAC's public policy recommendations are related to policies promotion, incentive policies and targeting strategies (Commission Economic Policy for Latin America and the Caribbean [CEPAL], 2007). In this way, it is sought that the public policies are developed around the capabilities that capital must have according to the requirements and trends of the industries in which FDI grows more dynamically. In addition, the productive chains that FDI generated in other productive sectors, in order to develop optimal trade policies. Chapter 1 evaluates the historical background of the development of foreign trade in Costa Rica. In addition, the value of research is justified from a development approach, and it is State the problem and the objectives of the investigation. In Chapter 2 the framework is elaborated. theoretical, where the theoretical basis of the study is stipulated. Chapter 3 details the framework methodological framework that describes the approach, type, subjects and sources of the research in order to determine and weigh the factors that stimulate FDI flows in Costa Rica. In the chapter 4 the econometric model of FDI Services is created and analyzed as a dependent variable, together with to the minimum wage, US GDP and the exchange rate as independent variables. Chapter 5 details the conclusions and recommendations of the study based on the results. Of the investigation. Below is the background.
The main objective of this research is to analyze the determinants of the Foreign Direct Investment (FDI) in the services sector of Costa Rica. For the analysis of the factors, a descriptive and correlational investigation will be carried out, since the purpose of the investigation is to identify, ponder and analyze the behavior and relationship of the factors, when these vary over time, and how they stimulate FDI flows. During the study period 2000-2019, the average FDI in services was $404M, reaching its maximum level in 2014 with $1,117M, an annual growth of 21.6%. After 2014, FDI in services has had a downward trend, reaching as only $540M in 2019. Although the trend has been downward, in 2019 FDI in services represented 19.9% of the total sectors, surpassed only by the manufacturing sector with 57.9%, according to data from the BCCR. Given the trends mentioned here, and the volatility of FDI during the last decade, it is of research interest to identify the factors that stimulate this behavior for the services sector. Investments in the services sector, although they do not record large amounts of capital, such as manufacturing, are much more intensive in generating quality employment, exports of high added value, number of investment projects and substantial improvements in the labor productivity of the country (Sequeira, 2018). According to the 2019 IBM Global Location Trends report, Hungary and Costa Rica continue to appear among the top countries in terms of FDI job creation in relation to the size of the population. This confirms their positions as hot spots for both manufacturing and services in Central Europe and Central America, respectively (Institute for Business Value [IBM], 2019, p. 5). The multinational companies served by CINDE generated 16,718 gross jobs and 10,141 net as of December 2019, a record figure for the institution. The 308 multinational companies supported by CINDE represent a total of 118,245 formal and quality jobs (Coalición Institute of Development Initiatives [CINDE], December 16, 2019), this figure reflects the importance of FDI flows in terms of development. 14 Thus, this paper aims to identify and weigh the factors that stimulate the flows of FDI in the service sector in Costa Rica from the year 2000 to 2019. It is expected that through detailed analysis of the evolution of FDI flows in the services sector during this period, as well as the inquiry about how financial and banking agents perceive the situation of the economic system, the economic mechanisms that stimulate the FDI flows, and thus contribute to the design of regulatory and commercial public policies that favor the stability of the local economic system in a proactive, and not a reactive manner. Public policies related to the promotion of FDI must be those that comply at the with an industrial policy that helps to transform the productive structure, they must be policies that promote the insertion of Costa Rica in the global economy and finally comprehensive policies across sectors. ECLAC's public policy recommendations are related to policies promotion, incentive policies and targeting strategies (Commission Economic Policy for Latin America and the Caribbean [CEPAL], 2007). In this way, it is sought that the public policies are developed around the capabilities that capital must have according to the requirements and trends of the industries in which FDI grows more dynamically. In addition, the productive chains that FDI generated in other productive sectors, in order to develop optimal trade policies. Chapter 1 evaluates the historical background of the development of foreign trade in Costa Rica. In addition, the value of research is justified from a development approach, and it is State the problem and the objectives of the investigation. In Chapter 2 the framework is elaborated. theoretical, where the theoretical basis of the study is stipulated. Chapter 3 details the framework methodological framework that describes the approach, type, subjects and sources of the research in order to determine and weigh the factors that stimulate FDI flows in Costa Rica. In the chapter 4 the econometric model of FDI Services is created and analyzed as a dependent variable, together with to the minimum wage, US GDP and the exchange rate as independent variables. Chapter 5 details the conclusions and recommendations of the study based on the results. Of the investigation. Below is the background. Thus, this paper aims to identify and weigh the factors that stimulate the flows of FDI in the service sector in Costa Rica from the year 2000 to 2019. It is expected that through detailed analysis of the evolution of FDI flows in the services sector during this period, as well as the inquiry about how financial and banking agents perceive the situation of the economic system, the economic mechanisms that stimulate the FDI flows, and thus contribute to the design of regulatory and commercial public policies that favor the stability of the local economic system in a proactive, and not a reactive manner. Public policies related to the promotion of FDI must be those that comply at the with an industrial policy that helps to transform the productive structure, they must be policies that promote the insertion of Costa Rica in the global economy and finally comprehensive policies across sectors. ECLAC's public policy recommendations are related to policies promotion, incentive policies and targeting strategies (Commission Economic Policy for Latin America and the Caribbean [CEPAL], 2007). In this way, it is sought that the public policies are developed around the capabilities that capital must have according to the requirements and trends of the industries in which FDI grows more dynamically. In addition, the productive chains that FDI generated in other productive sectors, in order to develop optimal trade policies. Chapter 1 evaluates the historical background of the development of foreign trade in Costa Rica. In addition, the value of research is justified from a development approach, and it is State the problem and the objectives of the investigation. In Chapter 2 the framework is elaborated. theoretical, where the theoretical basis of the study is stipulated. Chapter 3 details the framework methodological framework that describes the approach, type, subjects and sources of the research in order to determine and weigh the factors that stimulate FDI flows in Costa Rica. In the chapter 4 the econometric model of FDI Services is created and analyzed as a dependent variable, together with to the minimum wage, US GDP and the exchange rate as independent variables. Chapter 5 details the conclusions and recommendations of the study based on the results. Of the investigation. Below is the background.
Descripción
Palabras clave
COSTA RICA, INVERSIONES EXTRANJERAS, FOREIGN INVESTMENTS, POLÍTICA GUBERNAMENTAL, GOVERNMENT POLICY, DESARROLLO ECONÓMICO, ECONOMIC DEVELOPMENT