Determining Factors of Private Investments: An Empirical Analysis for Turkey
Sosyoekonomi Journal, 2010, issue 2010-1
Private investment plays a pivotal role in the free market economy. In the contemporary economic thinking private sector has a weighty and important place in the investment and production based growth. Considering the multifaceted nature of private investments, determining the factors which have effects on private investments gain importance. This paper aims to determine the factors which affect private investments in long-run in Turkey. To this end, the long-run private investment equation is estimated via bounds test (ARDL) approach to co-integration. Estimated coefficients of the variables show that in the long-run real GDP, real exchange rate, ratio of private sector credit to GDP, private external debt, inflation, and trade openness have a significant impact on private investments.
Keywords: Private Investment; Turkey; ARDL Test; Co-integration. (search for similar items in EconPapers)
JEL-codes: C22 E22 O16 O40 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sos:sosjrn:100101
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