The Effects of Market Structure on Uncertainty-Investment Relationship: Evidence from Turkish Manufacturing Industry

Aytekin Güven and Arzu Akkoyunlu-Wigley

Sosyoekonomi Journal, 2018, issue 26(37)

Abstract: The broad aim of this study is to examine the impact of uncertainty on investment in Turkey. Our particular aim is to test Caballero’s (1991) theoretical claim that the negative relationship between investment and uncertainty is more pronounced in imperfectly competitive industries. With that aim in mind a panel of Turkish manufacturing industries for the years 1992-2001 is used to examine the effect of market structure on the investment-uncertainty relationship. Our estimation results show that uncertainty has a reductive effect on investment and that that effect becomes significantly stronger under imperfect competition conditions.

Keywords: Uncertainty; Investment; Market Structure; Turkish Manufacturing Industry; Dynamic Panel Data Methods. (search for similar items in EconPapers)
JEL-codes: D81 E22 L13 L60 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sos:sosjrn:180310

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