Demetriades, Panicos O.; James, Gregory A.; Lee, Kevin - Department of Economics, Leicester University - 2008
We estimate a model of investment under financial restrains due to Demetriades and Devereux (2000), using total and private aggregate investment data from 38 high income and low income countries during 1972-2002. Our main findings for the overall sample are that (i) the US real interest rate is...