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| Author: | Campos, N.F. Nugent, J.B. |
| Title: | Aggregate investment and political instability: an econometric investigation |
| Journal: | Economica
2003 : AUG, VOL. 70:279, p. 533-549 |
| Index terms: | Econometrics Political risks |
| Freeterms: | Aggregate investment |
| Language: | eng |
| Abstract: | Although in theory the long-run of uncertainty on investment is ambiguous, available econometric evidence widely supports a negative association between aggregate investment and political instability. A shortcoming of this body of evidence is that it has failed to investigate the existence and direction of causality between these two variables. This gap is filled in this article by testing for such causal and negative long-run relationship between political instability and investment. |
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