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Private Investment and Macroeconomic Environment in the South Pacific Island Countries : A Cross-Country Analysis

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  • Jayaraman, T-K

Abstract

The paper undertakes an empirical investigation of key macroeconomic factors affecting private investment in the South Pacific developing member countries. The study finds that instability in the real exchange rate had a sizeable adverse effect on private investment.

Suggested Citation

  • Jayaraman, T-K, 1996. "Private Investment and Macroeconomic Environment in the South Pacific Island Countries : A Cross-Country Analysis," Papers 14, Asian Development Bank.
    • Handle: RePEc:fth:asdbed:14
    as

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    References listed on IDEAS

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    5. Fielding, David, 1997. "Adjustment, trade policy and investment slumps: evidence from Africa," Journal of Development Economics, Elsevier, vol. 52(1), pages 121-137, February.
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    8. Mr. Dhaneshwar Ghura, 1997. "Private Investment and Endogenous Growth: Evidence From Cameroon," IMF Working Papers 1997/165, International Monetary Fund.
    9. Dhaneshwar Ghura & Michael T. Hadjimichael, 1996. "Growth in Sub-Saharan Africa," IMF Staff Papers, Palgrave Macmillan, vol. 43(3), pages 605-634, September.
    10. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
    11. Oshikoya, Temitope W, 1994. "Macroeconomic Determinants of Domestic Private Investment in Africa: An Empirical Analysis," Economic Development and Cultural Change, University of Chicago Press, vol. 42(3), pages 573-596, April.
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    Cited by:

    1. Muyambiri, Brian & Chiwira, Oscar & Enowbi Batuo, Michael & Chiranga, Ngonidzashe, 2010. "The Causal Relationship between Private and Public Investment in Zimbabwe," MPRA Paper 26671, University Library of Munich, Germany.
    2. Teuea Toatu, 2002. "Unravelling the Pacific Paradox," International and Development Economics Working Papers idec02-2, International and Development Economics.
    3. Muhammad Asif & Abdul Majid, 2018. "Institutional quality, natural resources and FDI: empirical evidence from Pakistan," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 8(4), pages 391-407, December.

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    More about this item

    Keywords

    INTERNATIONAL INVESTMENT ; DEVELOPING COUNTRIES ; EXCHANGE RATE;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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