Technical paper Investment and Institutional Uncertainty: A Comparative Study of Different Uncertainty Measures
Type
Book
Authors
ISBN 10
0821341596
ISSN
10185097
Category
Publication Year
1997
Publisher
The World Bank, United States
Pages
31p.
Subject
Investment and investments
Series Name
Abstract
This paper tests the most frequently used uncertainty measures in investment regressions using the same specifications, country sample, and time period. A number of indicators proved significant and robust to changes in specification. The paper concludes with evaluation of the quantitative effects of the significant uncertainty indicators on investment. it was found that a lack of rule of law, high corruption and volatility in real exchange rate distortions are the most detrimental for investment.
Description
Includes bibliographical references, illustrations
Number of Copies
2
