Democracy, Globalization and Private Investment in Ghana
作者: Samuel Kwabena ObengLinda AkotoFelicia Acquah
作者单位: 1School of Economics, University of East Anglia (UEA), Norwich, United Kingdom.
2Department of Economics, Kwame Nkrumah University of Science and Technology (KNUST), Kumasi, Ghana.
3Records and Archives Department, National Investment Bank (NIB) Ltd., Accra, Ghana.
刊名: Global Business Review, 2018, Vol.19 (1), pp.1-20
来源数据库: Sage Publications, Inc.
DOI: 10.1177/0972150917713288
关键词: Democracyglobalizationprivate investmentARDLECM
原始语种摘要: The article examines the effects of democracy and globalization on private investment in Ghana for the period 1980–2012, using the autoregressive distributed lag (ARDL) bounds test for cointegration and the error correction model (ECM). Two models are used. In Model 1, democracy is proxy by an index for institutional quality (Polity 2), while Model 2 uses an index for civil liberties as proxy for democracy. The results for Model 1 show globalization and public investment increase private investment, while exchange rate volatility and trade openness decrease private investment in both the long and short run. In addition, national income and interest rate reduce private investment in the short run. In the case of Model 2, credit to the private sector and public investment increase private...
全文获取路径: Sage国际出版集团  (合作)

  • volatility 挥发性
  • globalization 全球化
  • openness 开放
  • investment 投资
  • autoregressive 自回归
  • income 收入
  • short 短的
  • institutional 惯例的
  • trade 买卖
  • national 国家的