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Aggregate uncertainty and sectoral productivity growth : the role of credit constraints
Choi, Sangyup; Furceri, Davide; Huang, Yi; Loungani, Prakash - 2017
uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …We show that an increase in aggregate uncertainty - measured by stock market volatility - reduces productivity growth … uncertainty (Baker et al., 2016) is used instead of stock market volatility as a measure of aggregate uncertainty. …
Persistent link: https://www.econbiz.de/10011634332
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The Boasting Effect : How Interpersonal Utility Affects Stock Prices
Hammerich, Ulrich - 2015
Can stock price movements be traced back partially to interpersonal utility effects? That is, are shareholders also chasing nonfinancial goals apart from generating profit under risk that can be ascribed neither to findings of behavioral finance nor to traditional economical theories? Inspired...
Persistent link: https://www.econbiz.de/10013021105
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Slowing growth : more than a rough patch
Kose, M. Ayhan; Ohnsorge, Franziska - 2023
Across the world, a structural growth slowdown is underway: at current trends, the global potential growth rate - the maximum rate at which an economy can grow without igniting inflation - is expected to fall to a three-decade low over the remainder of the 2020s. The slowdown could be even more...
Persistent link: https://www.econbiz.de/10014282834
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Long-run growth uncertainty
Kuang, Pei; Mitra, Kaushik - 2016
Observed macroeconomic forecasts display gradual recognition of the long-run growth of endogenous variables (e.g. output, output per hour) and a positive correlation between long-run growth expectations and cyclical activities. Existing business cycle models appear inconsistent with the...
Persistent link: https://www.econbiz.de/10012010392
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Residential Investment and Economic Growth
Wen, Yi - In: Annals of Economics and Finance 2 (2001) 2, pp. 437-444
The causal relationship between growth and fixed capital formation is reexamined. Our findings are in sharp contrast with the earlier findings by Blomstrom et al. (1996) that capital formation does not contribute to economic growth. However, our findings also reject the conventional wisdom...
Persistent link: https://www.econbiz.de/10009145682
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Effect of interest rate on economic performance : evidence from Islamic and non-Islamic economies
Mushtaq, Saba; Siddiqui, Danish Ahmed - In: Financial innovation : FIN 2 (2016) 9, pp. 1-14
Background: Saving and investment are two of the most important tools for economic growth. The interest rate has always … been considered an important determinant of saving and investment. However, according to Islamic teachings, riba or earning … interest on saving or investment is forbidden, and thus, many Muslims try to avoid earning income from the interest rate …
Persistent link: https://www.econbiz.de/10011542371
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Investment under financial liberalization : post 1980 Turkey case
Tutulmaz, Onur; Doğan, Burcu - In: Expert journal of economics 3 (2015) 1, pp. 5-13
control and investment mobility. More liberalization steps came in 1989 aiming to increase the investment and growth. Foreign … Direct Investment (FDI) was seen important for those purposes. However, short term capital flows, having been more effective …
Persistent link: https://www.econbiz.de/10012062092
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Does financial development drive private investment in Ghana?
Sakyi, Daniel; Boachie, Micheal Kofi; Immurana, Mustapha - In: Economies : open access journal 4 (2016) 4, pp. 1-12
There is ample evidence from economic growth literature that investment accelerates economic growth and development of … focused more on encouraging private sector investment through the development of the financial sector. This paper investigates … the short- and long-run impact of financial development on private investment in Ghana for the years 1970 …
Persistent link: https://www.econbiz.de/10011610224
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The changing patterns of investment in the PRC economy
Holz, Carsten A. - 2017
The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and … ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns … economy-wide data with various breakdown. Significant shifts in investment patterns across sectors and ownership forms have …
Persistent link: https://www.econbiz.de/10011657882
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China's investment rate : implications and prospects
Holz, Carsten A. - 2017
it driven by investment and capital accumulation. By 2014, gross capital formation had reached 46 percent of aggregate … expenditures. This paper documents the role of investment in driving economic growth in China, questions how much longer China can … sustain a relatively high investment rate, and examines the arguments that have been offered for an impending drastic …
Persistent link: https://www.econbiz.de/10011659322