Bibliographic citations
Cordero, J., Muñoz, R. (2018). Incidencia del tipo de cambio real en la inversión de las empresas en el Perú para el periodo 2002 - 2017 [Tesis, Universidad Privada Antenor Orrego - UPAO]. https://hdl.handle.net/20.500.12759/4354
Cordero, J., Muñoz, R. Incidencia del tipo de cambio real en la inversión de las empresas en el Perú para el periodo 2002 - 2017 [Tesis]. : Universidad Privada Antenor Orrego - UPAO; 2018. https://hdl.handle.net/20.500.12759/4354
@misc{renati/377532,
title = "Incidencia del tipo de cambio real en la inversión de las empresas en el Perú para el periodo 2002 - 2017",
author = "Muñoz Sotelo, Raúl Luciano",
publisher = "Universidad Privada Antenor Orrego - UPAO",
year = "2018"
}
This research analyzes and explains the correlation between the real exchange rate and private investment in Peru for the period 2002-2015. And its subsequent projection to the year 2017. For this, we have used as a dependent variable the investment taken as the stock of capital of the companies registered in the SMV and the exchange rate (multilateral) real taken from the annual series of statistical data of the BCRP. Deficiency was found in the financial statements of the companies analyzed: information presented in a non- standardized manner and absence of values in some periods; so the incongruent information was eliminated and the missing data was added using data from the previous period. An econometric estimation was made through dynamic panel data that will allow a better understanding of the correlation between private investment, its control variables (size of the company and financial structure) and real (multilateral) exchange rate since this methodology combines one temporal dimension with another transversal one. By means of this estimation we find that the model is globally significant, as are all its variables, with the exception of the variable size of the company. Likewise, the hypothesis is not fulfilled because the investment has an inverse relationship with the exchange rate, the coefficient of which is -73.1684% and 10.77% with respect to the debt ratio. Therefore, the real multilateral exchange rate negatively influenced the level of investment made by companies in Peru during the period 2002-2017.
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