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Please use this identifier to cite or link to this item: http://purl.umn.edu/37161

Title: Short and Long Run Determinants of Private Investment in Argentina
Authors: Acosta, Pablo
Loza, Andres
Keywords: investment
macroeconomic instability
crowding-out
Argentina
JEL Codes: E22
H54
O16
O23
Issue Date: 2005-11
Abstract: This study provides an empirical analysis of the macroeconomic factors that can potentially affect investment decisions in Argentina in a short, medium and long run perspective. Both the theory and the empirical literature are reviewed in order to identify a private investment function for the last three decades (1970-2000). The results suggest that investment decisions seem to be determined, in the short run, by shocks in returns (exchange rate, trade liberalization) and in aggregate demand. Besides, there is evidence of a “crowding-out” effect of public investment. In the long run, the capital accumulation path seems to be closely dependent on both well-developed financial and credit markets and on perspectives of fiscal sustainability.
URI: http://purl.umn.edu/37161
Identifiers: Print ISSN 1514-0326
Online ISSN 1667-6726
Institution/Association: Journal of Applied Economics>Volume 8, Number 2, November 2005
Total Pages: 18
From Page: 389
To Page: 406
Collections:Volume 08, Number 2, November 2005

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