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


Objetivos: 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.

Desenho/metodologia/abordagem: 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).

Resultados: 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.

Originalidade/valor: 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.

 

Palavras-chave: IDE, corrupção.

 

 

[ENG]

Title: "Corruption and the FDI Determinants: FDI relations between Portugal and the rest of the World"

Abstract

Purpose: This study aims to determine and clarify the effect of corruption on FDI flows, as well as to highlight the most relevant factors as determinants of FDI, in the specific case of Portuguese foreign investment and foreign investment in Portugal.

Design/methodology/approach: The analysis focuses on FDI flows made and received by Portugal, from 2009 to 2012, with 55 partner countries. The hypotheses were tested using secondary information sources, using estimated structural equations (SEM) in the PLS (Partial Least Squares) software.

Results: The results showed that corruption has a significant and negative effect on FDI received by Portugal, but does not show a significant effect on FDI by Portugal. Population and physical distance significantly affect FDI, received and realized by Portugal. The variables distance to power, individualism, masculinity, level of bureaucracy, long-term orientation and economic freedom also significantly affect FDI, although not for the entire period under review. Regarding the determinants of corruption, it has been found that economic freedom has a significant effect on corruption.

Originality/value: The influence of corruption on the IDE is not unanimously seen in the literature. This study contributes to the debate in the literature, focusing on the presence of contradictory effects of corruption, by detecting the presence of a negative effect of corruption on Portuguese investment relations. At the same time, the results show that Portuguese researchers value, in the selection of the target market, some factors contrary to what is expected in the literature (eg femininity and risk aversion), providing clues for debate and future research.

 

Keywords: IDE, corruption.


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European Journal of Applied Business and Management

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