Dynamic Modeling of Private Investment in the Agricultural Sector of Pakistan
AbstractThe study attempts an empirical assessment of the effects of macroeconomic instability and public expenditures on private fixed investment in agriculture. We estimated the specified private fixed investment model. First applying ADF test for unit root analysis on individual series, and then examining cointegration relationship between private fixed investment in agriculture and its determinants using Johansen (1988) method. The stable short-run dynamic function for private fixed investment in agriculture is estimated. The result confirmed that public development expenditures enhance the private investment in agriculture sector. Macroeconomic instability and uncertainty depresses private inves tment for agriculture by creating uncertain current and future environment.
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Bibliographic InfoArticle provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.
Volume (Year): 47 (2008)
Issue (Month): 4 ()
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- Amber Fatima & Abdul Waheed, 2011. "Effects of Macroeconomic Uncertainty on Investment and Economic Growth: Evidence from Pakistan," Transition Studies Review, Springer, vol. 18(1), pages 112-123, September.
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34162, University Library of Munich, Germany, revised 16 Oct 2011.
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