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Investment Incentives as a Mediator in the Relationship between Macroeconomic Variables and Growth of Private Domestic Investment in Kenya

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  • Monica Wanjiru Kinyanjui
  • Willy Muturi
  • Agnes Njeru

Abstract

The objective of this study was to investigate the mediating effect of investment incentives on the growth of private domestic investment in Kenya using time series data for the period 1997 to 2018. To test for mediating effect, the study used (Baron & Kenny, 1986) approach which propose a four-step procedure in which several regression analyses were conducted and the significance of the coefficients examined. The results did not consistently support a full mediation hypothesis, given that the coefficients did not consistently change in magnitude and significance. Therefore, the study does not reject the null hypothesis that investment incentives do not meditate on the relationship between macroeconomic variables and the growth of private domestic investment in Kenya. The results of this study will benefit policy makers by providing them with data-based evidence that will guide them in making appropriate policies that encourage growth of private domestic investment in Kenya and institute proper management of private domestic investments to boost economic growth in Kenya.Â

Suggested Citation

  • Monica Wanjiru Kinyanjui & Willy Muturi & Agnes Njeru, 2021. "Investment Incentives as a Mediator in the Relationship between Macroeconomic Variables and Growth of Private Domestic Investment in Kenya," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 10(1), pages 1-1.
    • Handle: RePEc:spt:fininv:v:10:y:2021:i:1:f:10_1_1
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    2. anonymous, 1987. "Real economic developments and the balance of payments," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 50, june.
    3. Amnuay Viravan & José Concepcion & Victor Fung Kwok-King & Jean-Pierre Lehmann & Brian W. Scott & Augustine Tan & Bunroku Yoshino & Hugh Corbet & Keith Hay & Mohammed Ramli Kushairi & Hadi Soesastro &, 1987. "Impact of Developments in the World Economy," Palgrave Macmillan Books, in: Trade Routes to Sustained Economic Growth, chapter 0, pages 71-88, Palgrave Macmillan.
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