Output growth and investment dynamics in Finland: a panel data analysis |
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Authors: | Tahir Mahmood Eatzaz Ahmad |
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Affiliation: | 1. University of Eastern Finland, Joensuu, Finland 2. School of Economics, QAU, Islamabad, Pakistan 3. McMaster Univercity, Hamilton, Canada
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Abstract: | This study analyzes the relationship between output growth and investment in a panel of 20 regions of Finland over the period 1975–2007. This regional study uses Granger non-causality and error-correction models. The most important finding of this study is a unidirectional causality which runs from investment to output growth. The study also verifies the existence of a positive association between growth and investment for the panel of 20 regions of Finland. These findings reconcile with the capital fundamentalists. |
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