The economic uncertainty and private investment nexus in Iran: Application of the EGARCH model and the ARDL approach |
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作者单位: | Faculty of Economics, University of Sistan & Baluchestan, Zahedan 98135-987, Iran |
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摘 要: | This paper examines the impact of economic uncertainty on private investment in lran. In addition, the authors also examine the impact of other economic factors on the level of private investment. The Autoregressive Distributed Lag (ARDL) approach is applied to investigate the relationship of these variables. The data span is from 1975 to 2007. The results indicate that economic uncertainty has a significant negative effect on private investment. Public investment and the availability of financing have a significant positive effect on private investment, while the impact of output gap and the exchange rate is negative. Hence, government should aim at creating a stable macro-economic environment in order to makes private investment attractive.
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关 键 词: | 私人投资 不确定性 投资经济 GARCH模型 应用 伊朗 宏观经济环境 经济因素 |
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