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Impact of institutional uncertainty on private investment: an empirical study in select East and South Asian countries

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Frame of Image ngladesh, India, Pakistan, Sri Lanka, Indonesia, Republic of Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. Within an analytical framework based on emerging option theory of investment, the study provides further empirical support to the impact of institutional uncertainty on private investment, using panel data over a period of 1982-95. The findings of the study suggest that gdp growth rate, availability of credit and complementary investment in the previous year- all have positive impact on private investment. On the other hand, government consumption and exchange rate fluctuation are negatively associated with private investment flow. Concurrently, enhanced bureaucratic quality and security to property rights are positively associated with investment performance, while lack of rule of law is found to deter investment stream. As such, the study suggests to improve the quality of institutions in South Asia, notably the quality of property rights and the quality of overall governance to promote private investment in the region.
Dedication
To the beloved members of my family
iii
Acknowledgements
I would like to express sincere gratitude to my thesis supervisor, Professor SangWoo Nam who enkindles the image of an ancient guru before me. His kind assistance at every stage of the study salvaged it from a premature demise. I am also thankful to Professor Euysung Kim for his kind comments on the draft research proposal. Thanks are due to Professor Gill-Chin Lim, the


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Title Impact of institutional uncertainty on private investment: an empirical study in select East and South Asian countries
Similar Titles
Material Type Reports
Author(English)

Rahman, Shamsur

Publisher

[Seoul]:KDI School of international policy and management

Date 1999
Pages 98
File Type Documents
Original Format pdf
Subject Economy < Direct Investment
Holding KDI School of Public Policy and Management