Nominalexchange Rate Volatilityand Its Effecton Capitalinvestmentin Turkey
AbstractCapital investment constitutes an important part of economic policies. In general it is accepted that the remedy of unemployment and low welfare is higher investment. Theoretically uncertainty is one of the factors that affect investment. Two opposite views claim that an increase in uncertainty could increase or decrease investment. As a consequence of globalization the importance of exchange rate and its uncertainty have increased. This study investigates the effect of nominal exchange rate uncertainty on capital investment in Turkey and finds that there is a reverse effect. As a consequence, floating exchange rate regimes that inflict more uncertainty may have an adverse effect on investment and growth.
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Bibliographic InfoArticle provided by Anadolu University in its journal Anadolu University Journal of Social Sciences.
Volume (Year): 7 (2007)
Issue (Month): 2 (December)
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Web page: http://www.anadolu.edu.tr/akademik/birim/genelBilgi/205/3429/1
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Uncertainty; Exchange Rate; Investment; Turkey; Volatility;
Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
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