Examining Private Investment Heterogeneity: Evidence from a Dynamic Panel

Kul Luintel () and George Mavrotas

No DP2005-11, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: We investigate domestic private investment behaviour in a panel of 24 low-income and middle-income countries spanning a period of 1981-2000. The paper rigorously addresses (i) the cross-country heterogeneity in private investment behaviour, and (ii) endogeneity. Indicators of financial sector development and other standard macroeconomic determinants of private investment appear significant in explaining private investment behaviour in our sample; however, the estimated parameters and adjustment dynamics exhibit important cross-country differences.

Keywords: Econometric models (Economic development); Finance infrastructure; Investments; Macroeconomics (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (2)

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