Resumen

PEREZ ARTICA, Rodrigo. El desempeño cambiario del sector automotriz en Argentina y el impacto de la inversión. Estud. Econ. [online]. 2020, vol.37, n.74, pp. 5-35. ISSN 2525-1295.

In an economy affected by a shortage of foreign currency, the Argentine automotive complex shows the worst exchange rate performance among the sectors covered by the Central Bank of Argentina statistics. This article reviews the causes of the external deficit of the sector for the period 2003-2016. We show that the inflow of foreign capital to firms in the sector is correlated in the medium term with important net outflows of foreign currency, worsening the external imbalance. In addition, although it is found that the investment of the autoparts segment is low, we argue this is not the cause of the bad external performance, but rather a negative result more than the regional articulation scheme of the production, which relegates the local production of auto parts.

Palabras llave : Automotive Industry; Investment; Balance of Payments Constraint; Global Value Chains.