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OLUSEGUN A. AKANBI 《The South African journal of economics. Suid-afrikaanse tydskrif vir ekonomie》2012,80(4):473-489
This study examines the determinants of domestic investment in Nigeria with a special focus on the role of governance. The estimations are carried out with time series data from 1975 to 2009 using the Johansen estimation techniques. The results conform to the findings of existing literature that real output, user cost of capital and level of financial development are significant determinants of domestic investment in Nigeria. The distinctive feature of the paper is the significant role played by governance in explaining the long‐term pattern of domestic investment in Nigeria. The results from the long‐run estimation and the impulse responses revealed that a well‐structured and stable socio‐economic environment will boost domestic investment over the long run. Therefore, in modelling domestic investment for Nigeria, it is imperative to incorporate the significant role played by governance. 1 相似文献
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The purpose of this paper is to examine the effect of the FDI decision on domestic investment in the case of Taiwanese manufacturing firms. In addition, we also consider the deferral effect of the FDI decision and the role of firm size. To this end, this paper takes advantage of an endogenous switching model from which consistent estimators are obtained after correcting for the self‐selection problem. The empirical results show that the effect of these manufacturing firms’ FDI decisions on domestic investment is significant within the firms. Furthermore, a crowding‐out effect of FDI on domestic investment is found when Taiwanese firms engage in defensive FDI. Finally, FDI is found to have a positive influence on the domestic investment of the larger firms, while the influence is negative in the case of the smaller firms. 相似文献
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