haku: @indexterm INVESTMENT / yhteensä: 2128
viite: 295 / 2128
| Tekijä: | Lensink, R. |
| Otsikko: | Is the uncertainty-investment link non-linear? Empirical evidence for developed economies |
| Lehti: | Weltwirtschaftliches Archiv
2002 : VOL. 138:1, p. 131-147 |
| Asiasana: | UNCERTAINTY INVESTMENT EMPIRICAL RESEARCH DEVELOPED ECONOMIES ANALYTICAL REVIEW |
| Kieli: | eng |
| Tiivistelmä: | This paper provides evidence on the empirical relevance of a non-linear effect of uncertainty, measured by the volatility of stock market returns, on aggregate investment for a set of developed countries. In particular, the regression results strongly suggest that there are differences between the impact of low and high levels of uncertainty on the aggregate investment levels. It appears that low levels of uncertainty have favorable effects on investment, whereas high levels of uncertainty have a negative effect on investment. Two types of estimates confirm the non-linear impact of uncertainty on investment. This regression finds strong evidence for the existence of one threshold. |
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