Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/314483 
Title (translated): 
Foreign direct investment and human development in Colombia: The case of energy mining sector (1990-2021)
Year of Publication: 
2024
Citation: 
[Journal:] Revista de Métodos Cuantitativos para la Economía y la Empresa [ISSN:] 1886-516X [Volume:] 38 [Year:] 2024 [Pages:] 1-31
Publisher: 
Universidad Pablo de Olavide, Sevilla
Abstract (Translated): 
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.
Subjects: 
Oil sector
economic development
human capital
crisis
extractive
JEL: 
A13
B55
C32
C51
F21
F31
G28
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-sa Logo
Document Type: 
Article

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