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An Investigation of the Long-Run Private Investment in the Asia-Pacific Developing Countries


  • Saten Kumar


: This paper estimates a neoclassical investment equation for selected Asia-Pacific developing countries Thailand, Philippines, Indonesia, Singapore, Fiji, Samoa and Vanuatu. The Hendry s General-to-Specific (GETS) approach is used and the results imply that the income elasticity is unity and the interest rate elasticity is significant with expected sign for all the selected countries.

Suggested Citation

  • Saten Kumar, 2009. "An Investigation of the Long-Run Private Investment in the Asia-Pacific Developing Countries," The IUP Journal of Applied Economics, IUP Publications, vol. 0(3-4), pages 38-47, May-July.
  • Handle: RePEc:icf:icfjae:v:08:y:2009:i:3-4:p:38-47

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    References listed on IDEAS

    1. Carmen M. Reinhart, 1995. "Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 42(2), pages 290-312, June.
    2. B. Bhaskara Rao & Rup Singh, 2007. "Estimating export equations," Applied Economics Letters, Taylor & Francis Journals, vol. 14(11), pages 799-802.
    3. Rose, Andrew K., 1991. "The role of exchange rates in a popular model of international trade : Does the 'Marshall-Lerner' condition hold?," Journal of International Economics, Elsevier, vol. 30(3-4), pages 301-316, May.
    4. Narayan, Paresh Kumar & Narayan, Seema, 2005. "Estimating income and price elasticities of imports for Fiji in a cointegration framework," Economic Modelling, Elsevier, vol. 22(3), pages 423-438, May.
    5. Rose, Andrew K., 1990. "Exchange rates and the trade balance : Some evidence from developing countries," Economics Letters, Elsevier, vol. 34(3), pages 271-275, November.
    6. Ostry, Jonathan D. & Rose, Andrew K., 1992. "An empirical evaluation of the macroeconomic effects of tarrifs," Journal of International Money and Finance, Elsevier, vol. 11(1), pages 63-79, February.
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