INVERSIÓN Y DESINVERSIÓN DIRECTA ESPAÑOLA EN LA GEOGRAFIA LATINOAMERICANA. EL CASO DE VENEZUELA.
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2018-10
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Jaén: Universidad de Jaén
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[ES] El objetivo de este trabajo consiste en realizar un
análisis de la evolución de los flujos de inversión y desinversión
directa en el exterior de las empresas españolas desde un punto de
vista geográfico, centrándonos en Latinoamérica, y dentro de esta
en el caso de Venezuela, durante el periodo 1993-2017 y para ello
se ha utilizado la información estadística de la base de datos
Datainvex así como los informes publicados por el Instituto
Español de Comercio Exterior. Además, se analiza el caso de
Banco Santander, Agroisleña y Repsol. Entre las conclusiones
obtenidas se puede destacar la influencia de la situación económica
e institucional en el comportamiento de las empresas españolas,
tanto a nivel global como en Latinoamérica, que tienden a
desinvertir cuando la situación global es desfavorable. También se
puede destacar la dificultad para desinvertir en Venezuela, debido
a la existencia de costes hundidos en las filiales de algunas
multinacionales españolas.
[EN] The objective of this work is to perform an analysis of the evolution of investment flows and direct disinvestment abroad of Spanish companies from a geographical point of view, focusing on Latin America, and within this in the case of Venezuela, during the 1993-2017 period and for this, the statistical information of the Datainvex database was used, as well as the reports published by the Spanish Institute of Foreign Trade. In addition, the case of Banco Santander, Agroisleña and Repsol is analyzed. Among the conclusions obtained, we can highlight the influence of the economic and institutional situation on the behavior of Spanish companies, both globally and in Latin America, which tend to disinvest when the global situation is unfavorable. We can also highlight the difficulty of disinvesting in Venezuela, due to the existence of sunk costs in the subsidiaries of some Spanish multinationals.
[EN] The objective of this work is to perform an analysis of the evolution of investment flows and direct disinvestment abroad of Spanish companies from a geographical point of view, focusing on Latin America, and within this in the case of Venezuela, during the 1993-2017 period and for this, the statistical information of the Datainvex database was used, as well as the reports published by the Spanish Institute of Foreign Trade. In addition, the case of Banco Santander, Agroisleña and Repsol is analyzed. Among the conclusions obtained, we can highlight the influence of the economic and institutional situation on the behavior of Spanish companies, both globally and in Latin America, which tend to disinvest when the global situation is unfavorable. We can also highlight the difficulty of disinvesting in Venezuela, due to the existence of sunk costs in the subsidiaries of some Spanish multinationals.