A Corrupção e os determinantes do IDE: as relações de IDE entre Portugal e o resto do mundo

Paulo Alexandre Ferraz, Catia Fernandes Crespo

Abstract


Purpose: O presente estudo tem como objetivos determinar e clarificar o efeito exercido pela corrupção nos fluxos de IDE, bem como evidenciar os fatores mais relevantes enquanto determinantes de IDE, no caso específico do investimento português no estrangeiro e do investimento estrangeiro em Portugal.

Design/methodology/approach: A análise tem como foco os fluxos de IDE realizados e recebidos por Portugal, no período de 2009 a 2012, com 55 países parceiros. As hipóteses foram testadas com recurso a fontes de informação secundária, tendo sido utilizadas equações estruturais (SEM) estimadas no software PLS (Partial Least Squares).

Findings: Os resultados demonstraram que a corrupção exerce um efeito significativo e negativo sobre o IDE recebido por Portugal, não evidenciando, contudo, um efeito significativo sobre o IDE realizado por Portugal. A população e a distância física afetam significativamente o IDE, recebido e realizado por Portugal. As variáveis distância ao poder, individualismo, masculinidade, nível da burocracia, orientação a longo prazo e liberdade económica também afetam significativamente o IDE, embora não na totalidade do período em análise. Em relação aos determinantes da corrupção, concluiu-se que a liberdade económica exerce um efeito significativo sobre a mesma.

Originality/value: A influência da corrupção sobre o IDE não é vista de forma unânime na literatura. O presente estudo contribui para o debate existente na literatura, centrado na presença de efeitos contraditórios da corrupção, ao detetar a presença de um efeito negativo da corrupção nas relações de investimento portuguesas. Paralelamente, os resultados evidenciam que os investigadores portugueses valorizam, na seleção do mercado de destino, alguns fatores de forma contrária ao expetável na literatura (e.g. feminilidade e aversão ao risco), lançando pistas para debate e investigação futura.

Keywords: IDE, corrupção.


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