Abstract
Grounded on a conceptual framework that combines contributions from the investment development path (IDP) theory, the Ownership, Location, Internalization (OLI) paradigm, and the institutional theory, this work aims to analyze the home country’s determinants of outward Foreign Direct Investments (OFDI). Based on panel data for a set of 14 Latin American countries between 2000 and 2019, the results of random effects estimations support the propositions of the IDP and institutional theories. Economic development, inward FDI, and institutional quality are strong determinants of OFDI. Results also highlight the role of the openness level and the membership of regional trade agreements in explaining OFDI from Latin America countries.
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