Fwd: Macroperu Flujos de Inversión Directa extranjera en LA

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From: Bruno <lbseminario@yahoo.com>
Date: 2012/6/18
Subject: Macroperu Flujos de Inversión Directa extranjera en LA

 

Según la CEPAL, el año pasado la ineversión directa extranjera ascendió a 150,000 millones de dólares. 3/4 parte de esta se concentró en México y Brasil. La suma restante en CentroAmerica y el resto de America del Sur. Mientras que el destino en el primero grupo fue la manufactura y el sector servicios, en el segundo este lugar fue ocupado por los recursos naturales. El flujo destinado a inevestigacion en desarrollo totaliz{o casi cinco por ciento del total.

¿Por q}e Brasil reciben un flujo de ineversi{on que excede a su partiación en el PBI? Probablemnte porque las multinacionales pinesan usr estos paises como plataformas exportadoras hacia otros paises como plataforma exportadora a otros paises de al region: son las dos unicas economias de la region con un aparto industrial digno de consideraci}on. La manufactura en Sudamerica se reduce al procesamineto de alimentos, produccion de materiales de construccion , y procesamiento de materias primas, es dcir, a sectores donde la investigaci{on y desarrollo no tiene la mayor importancia . En estos sectores la investigacion y el desarrollo tine escasa relevancia pues los productos no ambia de forma. Despues de todo, uno no necesita cambiar la forma de las gaseoasas, loslos platos, o los ladrillos de las casas . El valor agregado directo de estos productos es 30 por ciento del costo total. Tambien es reducido el ipacto del mismo sobre estos sectores de la econom{ia.

Es posible, por ejemplo, que un dolara de textil exportado genra menos valor garegado que un dolara de harian de pescad y probablemnte igual cantidad de empleo. La exportacion de textiles con algodon importado corta la conexi{on del sector con la agricltura y hace desaprecer casi todo el impacto indirecto del sector. El mismo fecto reduce el valor agregado generado en el sector.

Foreign Direct Investment in Latin America Hit Record Highs in 2011
Author: Shannon Oneil · June 18th, 2012 · Comments (0)
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Last year foreign direct investment (FDI) in Latin America continued its surge, topping $150 billion, an all time high for the region. According to the Economic Commission for Latin America and the Caribbean's report "Foreign Direct Investment in Latin America and the Caribbean," the inflows climbed 31 percent—the most of any region and three times Asia's growth rate—and now represent just over 10 percent of total global investment (breaking into the double digits for the first time as well).

While nearly all countries gained, the largest recipient, unsurprisingly, was Brazil. There, investments rose by 37 percent, and in a change from the past, flowed mostly into the manufacturing and service sectors (the largest single investment coming from the German conglomerate ThyssenKrupp's construction of a $7 billion steel exporting plant). Inflows to Mexico and Central America were also led by manufacturing and services (including tourism, banking, and the automotive sectors). Only in South America (excluding Brazil), did most of the investment remain in commodities and natural resources.

Despite tough times at home, Europe led with some $35 billion in investment. Anecdotes suggest that the profitability of Latin American subsidiaries and operations have helped keep some European companies afloat (for instance the Spanish banks Santander and BBVA). Following in total inflows was the United States, and, if taken in the aggregate, other Latin American states (which invested nearly $23 billion). Interestingly, these countries, Japan, and Canada all outpaced China's involvement.

The report also touches on the quality of FDI flows, and its potential to transform Latin America's economies for the better through job creation, technology transfers, capacity building, and the like. Here the story is better than in the past, but still cautionary. More investment (now over one-third) went into what can be considered medium-high tech sectors, such as chemicals, autos, and machinery. Most of this uptick occurred in Latin America's largest economies, Brazil and Mexico. The study also shows that investment in high end technology and research and development remains small (less than 5 percent) and concentrated in Brazil.

Foreign direct investment is a useful gauge of investor confidence and, indirectly, potential economic growth. Here Latin America's decade of macroeconomic stability, natural resource endowments, and expanding domestic markets (due to a growing regional middle class) have drawn increased attention and dollars. The challenge for the region is to funnel the growing investment to benefit its citizens alongside these international companies and investors, creating jobs, enhancing learning, and increasing productivity in ways that will let Latin America compete globally in the long term.

Published in conjunction with Latin America's Moment at the Council on Foreign Relations.

This post originally appeared at LatIntelligence and is posted with permissio

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