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    Determinants of Private Investment: Time Series Evidence from Bangladesh

    Access Status
    Fulltext not available
    Authors
    Hassan, A.
    Salim, Ruhul
    Date
    2011
    Type
    Journal Article
    
    Metadata
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    Citation
    Hassan, A.F.M. Kamrul and Salim, Ruhul A. 2011. Determinants of Private Investment: Time Series Evidence from Bangladesh. Journal of Developing Areas. 45 (Fall 2011): pp. 226-249.
    Source Title
    Journal of Developing Areas
    DOI
    10.1353/jda.2011.0006
    ISSN
    0022-037X
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/18920
    Collection
    • Curtin Research Publications
    Abstract

    This article examines the determinants of private investment in Bangladesh using the standard time series econometric analysis. The empirical results partially support the flexible accelerator hypothesis. It is partial in the sense that real interest rate is not statistically significant in determining private investment whereas national output is very much effective in the long run. Further, government expenditure is found to be a significant determinant of private investment, both in the long- and short run. Government expenditures crowd out private investment, however, the effect is minimal as the investment is not interest responsive. Thus, government expenditure can be used effectively to lift output in case of recession while monetary policy is not so effective in recession because reducing the interest rate investment cannot be increased.

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