Patrones culturales y decisiones de inversión en América Latina. Índices de Hofstede, religión y percepción de la corrupción.

Karla Meneses; Gabriela Córdova; Bernarda Acosta

doi:10.33571/teuken.v12n18a5

Authors

Karla Meneses Universidad de Las Américas https://orcid.org/0000-0003-0277-9372
Gabriela Córdova Universidad de Las Américas
Bernarda Acosta Universidad de Las Américas

DOI:

https://doi.org/10.33571/teuken.v12n18a5

Keywords:

fixed investment, expectations, culture, Hofstede indexes, Latin America

Abstract

This research demonstrates that macroeconomic fundamentals (sales and interest rates) and expectations, and cultural patterns determine fixed investment in Latin America. Therefore, to define the cultural patterns, Hofstede’s cultural dimensions are considered, as well as the religious diversity index and the corruption perception index. From a data panel model for seven Latin American countries, the outcomes show that all variables, except the masculinity index, are significant in explaining the region’s investment behavior. The results suggest that to encourage investment and promote a stable business environment, it must contemplate individuals’ behavior and preferences based on their cultural profiles.

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Author Biographies

Karla Meneses, Universidad de Las Américas

Máster en Economía del Desarrollo de la Universidad Nacional de Costa Rica, Docente-Investigadora de la Universidad de Las Américas (Ecuador).

Gabriela Córdova, Universidad de Las Américas

Máster en Economía de la Facultad de Ciencias Sociales y Master en Microfinanzas y Desarrollo Social por la Universidad de Alcalá de Henares. Coordinadora-Investigadora de la Universidad de Las Américas (Ecuador).

Bernarda Acosta, Universidad de Las Américas

Economista de la Universidad de Las Américas (Ecuador). Analista en la calificadora de riesgo Class International Rating.

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