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Cuadernos de Economía

Print version ISSN 0121-4772

Abstract

SANCHEZ-FUNG, José R. MODELACIÓN DE LA INVERSIÓN EN CENTROAMÉRICA Y LA REPÚBLICA DOMINICANA. Cuad. Econ. [online]. 2009, vol.28, n.51, pp.245-264. ISSN 0121-4772.

This paper models aggregate investment in Costa Rica, El Salvador, Guatemala, Honduras, and the Dominican Republic using annual time series spanning the last four decades of the 20th century. The analysis reveals cointegrating investment functions. The short run dynamic modelling estimates a significant impact from output growth on investment growth in all the economies. But interest rates, and uncertainty and government activity measures, are not consistently relevant in explaining investment dynamics.

Keywords : investment; uncertainty; Ricardian equivalence; cointegration; equilibrium correction models; Central America; Dominican Republic.

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