skip to main content
Idioma:
Primo Search
Clear Search Box
Search in: Busca Geral
Busca Avançada
Busca por Índices

Political and Economic Uncertainty and Investment Behaviour in Pakistan

Abbas, Ahsan ; Ahmed, Eatzaz ; Husain, Fazal

Pakistan development review, 2019-01, Vol.58 (3), p.307-331 [Periódico revisado por pares]

Islamabad: Pakistan Institute of Development Economics, Islamabad

Texto completo disponível

Citações Citado por
  • Título:
    Political and Economic Uncertainty and Investment Behaviour in Pakistan
  • Autor: Abbas, Ahsan ; Ahmed, Eatzaz ; Husain, Fazal
  • Assuntos: Analysis ; Behavior ; Capital ; Costs ; Credit ; Economic aspects ; Economic conditions ; Economic models ; Economic theory ; Foreign exchange rates ; GDP ; Gross Domestic Product ; Infrastructure ; Investments ; Macroeconomics ; Nationalism ; Openness ; Standard deviation ; Stochastic models ; Theory ; Uncertainty
  • É parte de: Pakistan development review, 2019-01, Vol.58 (3), p.307-331
  • Descrição: This study analyses the effect of political stability and macroeconomic uncertainty on aggregate investment behaviour in Pakistan over the period 1960–2015. The Auto-Regressive Distributed Lags (ARDL) methodology is applied to explore both the long-run equilibrium relationship and short-run behaviour of investment. The macroeconomic uncertainty variable is derived from real exchange rate and is computed by the best-fitted GARCH model. The results reveal robust effects of political stability and macroeconomic uncertainty on overall investment activity in Pakistan. The government nationalisation policy, GDP growth, user cost of capital, credit availability and degree of openness are found to be the other key determining factors for investment both in long- and short-run. However, the favourable impact of physical infrastructure on investment holds in long-run only, while its effect is adverse though insignificantly in short-run. The findings support the neoclassical flexible accelerator principle and are consistent with economic theory. The volume of available funds is the binding constraint for investment and the McKinnon-Shaw hypothesis is validated in the short-run.
  • Editor: Islamabad: Pakistan Institute of Development Economics, Islamabad
  • Idioma: Inglês
Voltar para lista de resultados

  • Realização: ABCD-USP USP   Logos de Redes Sociais: Freepik

Buscando em bases de dados remotas. Favor aguardar.