Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance.
We present empirical evidence on factors that explain long run differences in investment as a share of GDP in a sample of 61 developing countries. We find robust positive effects from measures of the quality of political institutions and public sector infrastructure provision, and robust negative ef...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
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CSAE (University of Oxford)
2007
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| _version_ | 1797057237780267008 |
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| author | Bond, S Malik, A |
| author_facet | Bond, S Malik, A |
| author_sort | Bond, S |
| collection | OXFORD |
| description | We present empirical evidence on factors that explain long run differences in investment as a share of GDP in a sample of 61 developing countries. We find robust positive effects from measures of the quality of political institutions and public sector infrastructure provision, and robust negative effects from measures of natural resource endowments. There is little additional information in measures of political instability or macroeconomic volatility when we control for these factors. Financial development is found to have a positive influence on investment shares only in countries that experienced relatively high volatility. |
| first_indexed | 2024-03-06T19:33:26Z |
| format | Working paper |
| id | oxford-uuid:1e3e082e-3775-4616-8429-fc0f5adf6200 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T19:33:26Z |
| publishDate | 2007 |
| publisher | CSAE (University of Oxford) |
| record_format | dspace |
| spelling | oxford-uuid:1e3e082e-3775-4616-8429-fc0f5adf62002022-03-26T11:15:14ZExplaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:1e3e082e-3775-4616-8429-fc0f5adf6200EnglishDepartment of Economics - ePrintsCSAE (University of Oxford)2007Bond, SMalik, AWe present empirical evidence on factors that explain long run differences in investment as a share of GDP in a sample of 61 developing countries. We find robust positive effects from measures of the quality of political institutions and public sector infrastructure provision, and robust negative effects from measures of natural resource endowments. There is little additional information in measures of political instability or macroeconomic volatility when we control for these factors. Financial development is found to have a positive influence on investment shares only in countries that experienced relatively high volatility. |
| spellingShingle | Bond, S Malik, A Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance. |
| title | Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance. |
| title_full | Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance. |
| title_fullStr | Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance. |
| title_full_unstemmed | Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance. |
| title_short | Explaining Corss-country Variation in Investment: The Role of Endowments, Institutions and Finance. |
| title_sort | explaining corss country variation in investment the role of endowments institutions and finance |
| work_keys_str_mv | AT bonds explainingcorsscountryvariationininvestmenttheroleofendowmentsinstitutionsandfinance AT malika explainingcorsscountryvariationininvestmenttheroleofendowmentsinstitutionsandfinance |