Does International Arbitration Affect Economic Growth in Latin America?

WSEAS Transactions on Business and Economics, Volume 15, 2018

7 Pages Posted: 17 Dec 2018

See all articles by Edgardo Cayon Fallon

Edgardo Cayon Fallon

Colegio de Estudios Superiores de Administracion

Juan Santiago Correa

Colegio de Estudios Superiores de Administración-CESA

Lina de la Espriella

Brigard & Urrutia

Date Written: November 2018

Abstract

In this paper, we examine the effects of international arbitration on GDP growth in Latin American countries. After reviewing the literature on the importance of arbitration from an economic standpoint, and by using a panel regression that allows us to control for country effects, we found that international arbitration has a positive effect on economic growth. Finally, to check for robustness, we control for country effects, and we find that the most relevant control variables that affect GDP growth are the current account deficit, inflation, income inequality, and the average duration of an arbitrage process in a specific country.

Keywords: Latin America, International Arbitration, Economic Growth, Gross Domestic Product, Foreign Direct Investment

JEL Classification: H11, K33

Suggested Citation

Cayon Fallon, Edgardo and Correa, Juan Santiago and Espriella, Lina de la, Does International Arbitration Affect Economic Growth in Latin America? (November 2018). WSEAS Transactions on Business and Economics, Volume 15, 2018. Available at SSRN: https://ssrn.com/abstract=3291660

Edgardo Cayon Fallon

Colegio de Estudios Superiores de Administracion ( email )

Calle 35 No. 6-16
Bogota
Colombia

Juan Santiago Correa (Contact Author)

Colegio de Estudios Superiores de Administración-CESA ( email )

Calle 35 No. 6-16
Bogota
Colombia

HOME PAGE: http://www.cesa.edu.co

Lina de la Espriella

Brigard & Urrutia ( email )

Bogotá
Colombia

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