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A Cointegration Analysis of Investment Output Ratio in Bangladesh

Author

Listed:
  • Anoruo, Emmanuel
  • Kumar, Saten
  • DiPietro, Bill

Abstract

In this article, we have estimated a neo-classical model of investment augmented with real rate of interest to proxy the user cost of capital for Bangladesh. Our results reveal that there is a equilibrium relationship between investment output ratio, real output and real rate of interest. The long run relationship persists even in the presence of structural breaks in the model.

Suggested Citation

  • Anoruo, Emmanuel & Kumar, Saten & DiPietro, Bill, 2007. "A Cointegration Analysis of Investment Output Ratio in Bangladesh," MPRA Paper 19338, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:19338
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    File URL: https://mpra.ub.uni-muenchen.de/19338/1/MPRA_paper_19338.pdf
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    References listed on IDEAS

    as
    1. Joshua Greene & Delano Villanueva, 1991. "Private Investment in Developing Countries: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 33-58, March.
    2. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-1580, November.
    3. Oshikoya, Temitope W, 1994. "Macroeconomic Determinants of Domestic Private Investment in Africa: An Empirical Analysis," Economic Development and Cultural Change, University of Chicago Press, vol. 42(3), pages 573-596, April.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Saten Kumar, 2011. "Estimating export demand equations in selected Asian countries," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 4(1), pages 5-16, February.

    More about this item

    Keywords

    Investment Output Ratio; Johansen Maximum Likelihood Method; Gregory Hansen Structural Break tests;

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • P41 - Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • R34 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Input Demand Analysis

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