The Financial Determinants of Private Investment in Ghana
Journal Title: International Journal of Financial Economics - Year 2014, Vol 3, Issue 1
Abstract
This paper examines the financial determinants of private investment in Ghana using annual time series data from 1970 to 2010. Based on the autoregressive distributed lag (ARDL) bounds testing procedure to cointegration, the paper finds existence of cointegration among the variables. The empirical results support the view that private investment declines in both the short run and long run if the real interest rate is high and investors face severe financing constraints when credit is made scarce to the sector. Recommended were policies that would eliminate the financing constraints to make credit easily accessible to private investors.
Authors and Affiliations
Maame Esi Eshun, George Adu, Emmanuel Buabeng
Keywords
Related Articles
- EP ID EP27272
- DOI -
- Views 325
- Downloads 9
Empirical Analysis of Financial Sector Development and National Savings: Evidence from Nigeria Economy
This paper set out to examine whether there is a dynamic long run relationship between financial sector development and Nigeria National Savings in addiction to determining the direction of causality among the variable...
Nigerian Banks and Global Challenges: Further Evidence
This paper X-rays the Nigerian banking sector as well as the various reforms embarked by the Central Bank of Nigeria to strengthen Nigerian banks. Ranking of Nigerian banks among the top 1000 world banks was also exami...
Volatility Transmission among Macroeconomic Variables, Gold Return, Stock Return, Oil Return and Exchange Rate Return: Evidence from Pakistani Economy
This study employed GARCH and TGARCH models to examine the volatility transmission and asymmetry of information on volatility among macroeconomic variables in Pakistan for the period 2000 to 2010 monthly data. GARCH mo...
Analysis on the effects of TBT on Vietnamese agricultural exports
With the trade liberalization, the traditional tariff barriers and other non-tariff barriers have become less and less gradually. However, technical trade barriers have turned into the significant obstacle in the trade...
The Relationship between Capital Structure and Commercial Bank Performance: A Panel Data Analysis
The study was aimed at identifying the relationship between capital structure and bank performance. The bank performance was indicated by Return on Asset as the dependent variable and was regressed against the component...