IDEAS home Printed from https://ideas.repec.org/a/ecj/econjl/v101y1991i409p1452-59.html
   My bibliography  Save this article

The Influence of Uncertainty on UK Manufacturing Investment

Author

Listed:
  • Driver, Ciaran
  • Moreton, David

Abstract

This paper reports the results of including proxies for growth and inflation uncertainty in an accelerator-style investment equation, set up in "error-correction" form, for U.K. manufacturing plant and machinery expenditure. The uncertainty proxies are constructed as cross-section dispersion indices of independent economic forecasts. The results confirm the importance of output growth uncertainty as a (negative) determinant of capital formation. Inflation uncertainty was found to have a short-run influence only. Copyright 1991 by Royal Economic Society.

Suggested Citation

  • Driver, Ciaran & Moreton, David, 1991. "The Influence of Uncertainty on UK Manufacturing Investment," Economic Journal, Royal Economic Society, vol. 101(409), pages 1452-1459, November.
    • Handle: RePEc:ecj:econjl:v:101:y:1991:i:409:p:1452-59
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0013-0133%28199111%29101%3A409%3C1452%3ATIOUOU%3E2.0.CO%3B2-M&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:101:y:1991:i:409:p:1452-59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.