Investment financing in countries of the Americas: a data analysis on panel 1972-2008
DOI:
https://doi.org/10.5902/red.v0i23.4387Keywords:
Investment, Gap model, Panel dataAbstract
Countries of the Americas in the period 1972-2008, based on theoretical models of gaps in the versions of Chenery and Bruno (1962); Bacha (1982, 1989 and 1990 ) And Taylor (1994). With this in mind, we make an estimation of the model with panel data in the standard version with fixed effects. The explanatory variables in each country follow the approach of Amadeo and Giambiagi (1990). They are: the coefficients of domestic savings and imports and real exports. The estimation results corroborate the theoretical concept of the gap model, namely that developing countries face constraints in domestic savings and inability to import capital intensive goods, factors which restrict the level of investment of those economies.
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