آیا تغییرات در قوانین بازی سرمایه گذاری مستقیم خارجی در امریکا لاتین را تحت تاثیر قرار می دهد؟:نگاهی به عوامل تعیین کننده ادغام اقتصاد کلان، نهادی و منطقه ای سرمایه گذاری مستقیم خارجی

This paper aims to identify the main determinants of FDI in Latin America during the period 1990–2010. Evidence points to positive influences on FDI inflows of trade openness, maintaining low short-term debt levels and presenting a balance of payment deficit, government stability and low expropriation risk. Countries such as Argentina, Bolivia, Ecuador and Venezuela, in which the investment framework has become relatively less stable over the last decade, are finding it more difficult to attract foreign investors. From a risk-management perspective, both public solutions (such as sovereign guarantees) and private institutions have important roles to play in reducing the uncertainty involved in foreign investment decisions. Another result is that the DR CAFTA agreement does not seem to have played a significant role in the recent increase in investment directed towards Central America.