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INVESTMENT
IRENE GRANADOS CAMARENA
CRISTINA PREZ DEL POSTIGO ALONSO
3 ADE + MK
INDEX
INTRODUCTION
SPAIN IN THE SCENARIO OF THE FOREIGN DIRECT INVESTMENT
FOREIGN DIRECT INVESTMENT RECEIVED BY SPAIN
EVOLUTION
SECTORAL AND SPATIAL STRUCTURE
1. INTRODUCTION
FOREIGN DIRECT INVESTMENT
financial operations between a
direct investor and a resident Company in other country (direct
investment Company) that an investor interferes or control the
Company.
Spain has tradicionally been a receiver country of foreign investment
that contributes to its productive system.
The position of Spain in the international scenario of FDI.
Singular characters of the foreign capital activity in Spain and Spanish
capital abroad.
Efects of each of them in the Spanish economy.
Economic cycle and FDI are related. The impact of the recent crisis on
flows in the world economy has been significant in developed countries
and in Spain.
In Spain, decreased inputs and improved the divestments during the
crisis, but the net balance was clearly positive between 2007 2013.
The sectoral composition of global FDI received by Spain has been linked to
business opportunities offered by certain sectors but also greater or less
difficulty finding foreign capital to implant in some of them.
Investment in service was driven by the launch of the unique European market.
Energy and water where the massive inflow of capital took place in past decade,
disruption some extent the composition of investment.
The spatial composition of FDI, the data of regional stock of FDI, places Madrid
with almost two thirds of the total by the large number of Company
headquarters on its territory.
Asymmetries in
investment
structure of Spain
and 2 groups of
EU countries: EU
4 and Eastern
countries (EU -6)
Comparing with
EU, foreign capital
in Spain is much
less represented
in services and
more in
manufacturing
and above all
water and energy.
higher
B. GEOGRAPHIC LOCATIONS
In 2003 there were two main
areas, 15 EU and Latin America
with 40% of stocks. In other OECD
countries it accounted more than
one-tenth and the other small
fractions.
During the last decade the EU-15
has led the investment process.
UK, Brazil and the United States
together account for nearly 40%
of the stock in 2012 being
important to access markets as
prime determinant of Spanish IDE.
In 2012 the EU is the preferred
location
of
services,
manufacturing and construction.
Its in Asia and Latin America in
energy extractive water and
agriculture.
competition
income
and
FDI benefits:
1. It facilitates business growth and diversification of risk (crisis,
advantage of having distributed production in different areas)
2. Production and employment (horizontal investments)
3. Productivity (firms that invest abroad obtain higher productivity and
growth)
4. Qualification of the workforce (investment activity, R & D)
5. Exportations (important in the activity of a company to be an
investment prior to step outside).