The ability of a government to pursue policy initiatives depends substantially upon trends in public opinion. This research examines public attitudes toward environmental spending from 1974 to 1991. Using individual-level data over seventeen years obtained from the US National Opinion Research Cente
Political and economic determinants of private investment
β Scribed by Quan V. Le
- Publisher
- John Wiley and Sons
- Year
- 2004
- Tongue
- English
- Weight
- 142 KB
- Volume
- 16
- Category
- Article
- ISSN
- 0954-1748
- DOI
- 10.1002/jid.1109
No coin nor oath required. For personal study only.
β¦ Synopsis
Abstract
This paper presents empirical evidence that links private investment to rate of return differential, risk aversion, and several types of political and economic risk. Estimating private investment equation for a panel of 25 developing countries over 21 years yields the following results: (i) socioβpolitical instability characterized by nonviolent protests promotes private investment while violent uprisings hinder private investment; (ii) regime change instability characterized by constitutional government change promotes private investment while unconstitutional government change hinders private investment; and (iii) policy uncertainty characterized by variability of contract enforcement rights promotes private investment while variability of government political capacity hinders private investment. Copyright Β© 2004 John Wiley & Sons, Ltd.
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