Entorno institucional y comercio exterior: el efecto del riesgo político en las exportaciones de Castilla y León = Institutional aspects and foreign trade: results of political risk in exports

Alfredo Jiménez Palmero

doi:10.18002/pec.v0i14.592

Auteurs-es

Alfredo Jiménez Palmero Universidad de Burgos. Facultad de Ciencias Económicas y Empresariales. Departamento de Administración y Dirección de Empresas

DOI :

https://doi.org/10.18002/pec.v0i14.592

Mots-clés :

Exportación, Riesgo político, Corrupción Empresas castellano-leonesas, Unión Europea, Datos panel, Export, Political risk, Corruption, Castilla and León firms, European Union, Panel data

Résumé

Resumen

La ampliación de la Unión Europea (UE) a 27 miembros, ha supuesto unos mayores incentivos para comenzar o intensificar las actividades de exportación de las empresas. Además, las exportaciones les pueden permitir obtener diversas ventajas competitivas frente a aquellas otras puramente domésticas. El presente estudio analiza los determinantes de la evolución de las exportaciones castellano-leonesas hacia los distintos países miembros de la UE, prestando especial atención a los condicionantes institucionales y al efecto del riesgo político, ya que constituyen una de las mayores diferencias persistentes aún entre las características de los países recientemente adheridos y las de los demás miembros. Los resultados demuestran que en las provincias castellano-leonesas, las exportaciones son muy dependientes del ciclo económico, pero se presta una atención escasa al riesgo político, contrariamente a la tendencia de las exportaciones españolas.

Abstract

The enlargement of the European Union (EU) to 27 members has increased the incentives to start or intensify exports. In addition, exports may facilitate competitive advantages not available to domestic firms. This study analyses the determinants of the evolution of exports from Castilla and Leon towards the country members of the EU, paying special attention to the relevance of institutional aspects and political risk, one of the main persistent differences in the characteristics of the new members compared to the other states. The results show that in the provinces of Castilla and Leon, exports are very dependent of the economic cycle, but little attention is paid to political risk, in spite of the opposite happening for national Spanish exports.

Téléchargements

Les données relatives au téléchargement ne sont pas encore disponibles.

Références

Asiedu, E. (2002). On the determinants of foreign direct investment to developing countries: Is Africa different? World Development, 30(1), 107-119.

Barkema, H.G. y Vermeulen, F. (1998). International expansion through start-up or acquisition: A learning perspective. Academy of Management Journal, 41, 7-26.

Bartov, E., Bodnar, G. y Kaul, A. (1996). Exchange rate variability and the riskiness of U.S. multinational firms: Evidence from the breakdown of Bretton Woods. Journal of Financial Economics, 42, 105-132.

Basi, R.S. (1963). Determinants of United States private direct investment in foreign countries. Kent, Ohio: Kent State University.

Bass, B.M., Macgregor, D.W. y Walter, J.L. (1977). Selecting foreign plant sites: economic, social and political considerations. Academy of Management Journal, 20, 535-551.

Beck, T., Clarke, G., Groff, A., Keefer, P. y Walsh, P. (2001). New tools in comparative political economy: the database of political institutions. World Bank Economy Review, 15(1), 165-176.

Bernard, A.B. y Jensen, J.B. (1999). Exceptional exporter performance: Cause, effect, or both? Journal of International Economics, 47(1), 1-25.

Bevan, A.A. y Estrin, S. (2004). The determinants of foreign direct investment into European transition economies. Journal of Comparative Economics, 32, 775-787.

Castellani, D. (2002). Export behavior and productivity growth: Evidence from Italian manufacturing firms. Weltwirtshaftliches Archiv, 138(4), 605-628.

Clerides, S.K., Lach, S. y Tybout, J.R. (1998). Is learning by exporting important? Micro-dynamic evidence from Colombia, Mexico and Morocco. The Quarterly Journal of Economics, 113(3), 903-947.

Cuervo-Cazurra, A. (2006). Who cares about corruption? Journal of International Business Studies, 37, 803-822.

Cuervo-Cazurra, A. (2008). The effectiveness of laws against bribery abroad. Journal of International Business Studies, 39(6), 957-979.

Disdier, A.T. y Mayer, T. (2004). How different in Eastern Europe? Structure and determinants of location choice by French firms in Eastern and Western Europe. Journal of Comparative Economics, 32, 280-296.

Fariñas, J.C. y Martín-Marcos, A. (2007). Exporting and economic performance: Firm-level evidence of Spanish manufacturing. The World Economy, 30(4), 618-646.

Galego, A., Vieira, C. y Vieira, I. (2004). The CEECs as FDi atractor: are they a menace to the EU perophery? Emerging Markets Finance and Trade, 40(5), 74-91.

García, F. (2008). Do firms learn from exporting? New evidence by examining domestic market share. Working Paper presentado en el IV International Iberian Business Conference, Burgos, octubre 2008.

García-Canal, E. y Guillén, M.F. (2008). Risk and the strategy of foreign location choice in regulated industries. Strategic Management Journal, 29, 1097-1115.

Guillén, M.F. (2001). The limits of convergence: Globalization and organizational change in Argentina, South Korea, and Spain. Princeton, NJ: Princeton University Press.

Guler, I. y Guillén, M.F. (2007). Transnational connections and strategic choice: Venture capital firm´s entry into foreign markets. Working paper.

Habib, M. y Zurawicki, L. (2002). Corruption and foreign direct investment. Journal of International Business Studies, 33(2), 291-307.

Hair, J.F., Anderson, R.E., Tatham, R.L. y Black, W. (1999). Análisis multivariante (5ª ed). Madrid: Prentice Hall.

Henisz, W.J. (1998). The institutional environment for international investment. Doctoral dissertation, Hass School of Business, University of California.

Henisz, W.J. (2004). Political institutions and policy volatility. Economics & Politics, 16(1), 1-27.

Henisz, W.J. y Mansfield, E.D. (2006). Votes and vetoes: the political determinants of commercial openness. International Studies Quarterly, 50(1), 189-212.

Henisz, W.J. y Zelner, B.A. (2001). The institutional environment for telecommunications investment. Journal of Economics & Management Strategy, 10(1), 123-147.

Henisz, W.J. y Zelner, B.A. (2002a). The institutional environment for infrastructure investment. Industrial and Corporate Change, 11(2), 355-389.

Henisz, W.J. y Zelner, B.A. (2002b). Interest groups, institutional structures and electricity investment. Mimeo.

Hitt, M.A., Hoskisson, R.E y Kim, H. (1997). International diversification: Effects on innovation and firm performance in product-diversified firms. Academy of Management Journal, 40, 767-777.

Hitt, M.A., Tihanyi, L., Miller, T. y Connelly, B. (2006). International diversification: Antecedents, outcomes, and moderators. Journal of Management, 32, 831-867.

Holburn, G.L.F. (2001). Regulatory institutions and firm strategy: Theory and evidence from the electric power industry. Doctoral dissertation, University of California.

Jiménez, A. (2010). Does political risk affect the scope of expansion abroad? Evidence from Spanish MNEs. International Business Review, 19(6), 619-633.

Jiménez, A., Durán, J.J. y De la Fuente, J.M. (2011). El riesgo político como determinante de la estrategia de localización de las empresas multinacionales españolas. Revista Europea de Dirección y Economía de la Empresa, 20(1), 123-142.

Jiménez, A., De la Fuente, J.M. y Durán, J.J. (2011). Is there an East-West structure in the location of FDI in Europe? The role of institutions and political risk. Research in Economics and Business: Central and Eastern Europe., 3(1), 5-23.

Johanson, J. y Vahlne, J.E. (1977). The internationalization process of the firm: A model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8, 23-32.

Johanson, J. y Vahlne, J.E. (1990). The mechanism of internationalization. International Marketing Review, 7(4), 411-432.

Johanson, J. y Wiedersheim-Paul, F. (1975). The internationalization of the firm: Four Swedish cases. Journal of Management Studies, 12(3), 305-322.

Kennedy, P.A. (1992). Guide to econometrics. Cambridge, MA: MIT Press.

Kobrin, S.J. (1979). Political risk: A review and reconsideration. Journal of International Business Studies, Spring, 67-80.

Neter, J., Wasserman, W. y Kutner, M.H. (1985). Applied linear statistical models: Regression, analysis of variance and experimental designs (2ª ed.). Irwin, Homewood.

Noordin, B.A., Harjito, D.A. y Hazir, A.Y. (2006). Political risk assessment of Malaysian based multinational corporation. Problems and Perspectives in Management, 4(3), 91- 99.

Penner-Hahn, J. y Shaver, J.M. (2005). Does international research and development affect patent output? An analysis of japanese pharmaceutical firms. Strategic Management Journal, 26(2), pp. 121-140.

Reeb, D., Kwok, C. y Baek, Y. (1998). Systematic risk in multinational corporation.

Schollhammer, H. (1974). Locational strategies of multinational firms. Los Angeles: Pepperdine University.

Siegel, P.H., Omer, K., Rigsby, J.T. y Theerathorn, P. (1995). International diversification: A review and analysis of the evidence. Managerial Finance, 29(9), 50-77.

Solnik, B.H. (1973). European capital markets, towards a general theory of international investment. Lexington, London: Lexington Books.

StataCorp (2001). Stata statistical software: Release 7.0. College Station, Tx: Stata Corporation.

Studenmund, A.H. (1992). Using econometrics: A practical guide. New York, NY: HarperCollins.

Wagner, J. (2002). The causal effects of exports on firm size and labor productivity: First evidence from a matching approach. Economics Letters, 77, 287-292.

Wei, S.J. (2000a). How taxing is corruption on international investors. Review of Economics and Statistics, 82(1), 1-11.

Wei, S.J. (2000b). Local corruption and global capital flows. Brookings Papers on Economic Activity, 2, 303-354.

Welch, L.S. y Luostarinen, R. (1988). Internationalization: Evolution of a concept. Journal of General Management, 14(2), 34-55.

Williamson, O.E. (1975). Markets and Hierarchies: Analysis and antitrust implications. New York, NY: Free Press.

Williamson, O.E. (1985). The economic institutions of capitalism. New York, NY: Free Press.

Zaheer, A. (1995). Overcoming the liability of foreigness. Academy of Management Journal, 38, 341-363.

Zelner, B.A. (1999). Political institutions, political competition and investment strategies in the electric utility industry: Domestic and cross-national applications. Doctoral dissertation, University of California.