Institutional and Structural Determinants of Investment Worldwide

This paper considers institutional and structural factors associated with investment activity in a panel of up to 129 developed and developing countries. It introduces these factors to a standard neoclassical investment function for open economies, and find that financial development and institution...

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1. Verfasser: Lim, Jamus Jerome (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2013
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520 |a This paper considers institutional and structural factors associated with investment activity in a panel of up to 129 developed and developing countries. It introduces these factors to a standard neoclassical investment function for open economies, and find that financial development and institutional quality are reasonably robust determinants of cross-country capital formation, with latter displaying more stability in the sign and significance of its coefficient. Indeed, when endogeneity concerns are addressed more explicitly using external instruments, and both interactions and subsamples are considered, institutional quality tends to survive as the causal determinant of investment 
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spellingShingle Lim, Jamus Jerome
Institutional and Structural Determinants of Investment Worldwide
title Institutional and Structural Determinants of Investment Worldwide
title_auth Institutional and Structural Determinants of Investment Worldwide
title_exact_search Institutional and Structural Determinants of Investment Worldwide
title_full Institutional and Structural Determinants of Investment Worldwide Lim, Jamus Jerome
title_fullStr Institutional and Structural Determinants of Investment Worldwide Lim, Jamus Jerome
title_full_unstemmed Institutional and Structural Determinants of Investment Worldwide Lim, Jamus Jerome
title_short Institutional and Structural Determinants of Investment Worldwide
title_sort institutional and structural determinants of investment worldwide
url https://doi.org/10.1596/1813-9450-6591
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