Investment, financial markets and uncertainty
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Economia e Sociedade |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0104-06182016000300511 |
Resumo: | Abstract This contribution provides a theoretical explanation of the accumulation process, which focuses on the presence of correlations between physical and financial investment, and how the latter could affect the former. It also accounts for the influence of the cost of external finance and the impact of financial uncertainty as proxied by the interest rate and the exchange rate respectively; thereby utilising the Keynesian notion of conventions in the determination of investment. Our model is estimated by applying the difference GMM and the system GMM to a panel of 14 OECD countries from 1970 to 2010. |
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Economia e Sociedade |
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Investment, financial markets and uncertaintyAccumulationFinancial marketsConventionsUncertaintyKeynesian economics.Abstract This contribution provides a theoretical explanation of the accumulation process, which focuses on the presence of correlations between physical and financial investment, and how the latter could affect the former. It also accounts for the influence of the cost of external finance and the impact of financial uncertainty as proxied by the interest rate and the exchange rate respectively; thereby utilising the Keynesian notion of conventions in the determination of investment. Our model is estimated by applying the difference GMM and the system GMM to a panel of 14 OECD countries from 1970 to 2010.Instituto de Economia da Universidade Estadual de CampinasPublicações2016-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0104-06182016000300511Economia e Sociedade v.25 n.3 2016reponame:Economia e Sociedadeinstname:Universidade Estadual de Campinas (UNICAMP)instacron:UNICAMP10.1590/1982-3533.2016v25n3art1info:eu-repo/semantics/openAccessArestis,PhilipGonzález-Martinez,Ana RosaDejuán,Óscareng2017-07-06T00:00:00Zoai:scielo:S0104-06182016000300511Revistahttps://periodicos.sbu.unicamp.br/ojs/index.php/ecosPUBhttps://periodicos.sbu.unicamp.br/ojs/index.php/ecos/oaicbaltar@unicamp.br||ppec@unicamp.br||prates@unicamp.br1982-35330104-0618opendoar:2022-11-08T14:23:34.374295Economia e Sociedade - Universidade Estadual de Campinas (UNICAMP)false |
dc.title.none.fl_str_mv |
Investment, financial markets and uncertainty |
title |
Investment, financial markets and uncertainty |
spellingShingle |
Investment, financial markets and uncertainty Arestis,Philip Accumulation Financial markets Conventions Uncertainty Keynesian economics. |
title_short |
Investment, financial markets and uncertainty |
title_full |
Investment, financial markets and uncertainty |
title_fullStr |
Investment, financial markets and uncertainty |
title_full_unstemmed |
Investment, financial markets and uncertainty |
title_sort |
Investment, financial markets and uncertainty |
author |
Arestis,Philip |
author_facet |
Arestis,Philip González-Martinez,Ana Rosa Dejuán,Óscar |
author_role |
author |
author2 |
González-Martinez,Ana Rosa Dejuán,Óscar |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Arestis,Philip González-Martinez,Ana Rosa Dejuán,Óscar |
dc.subject.por.fl_str_mv |
Accumulation Financial markets Conventions Uncertainty Keynesian economics. |
topic |
Accumulation Financial markets Conventions Uncertainty Keynesian economics. |
description |
Abstract This contribution provides a theoretical explanation of the accumulation process, which focuses on the presence of correlations between physical and financial investment, and how the latter could affect the former. It also accounts for the influence of the cost of external finance and the impact of financial uncertainty as proxied by the interest rate and the exchange rate respectively; thereby utilising the Keynesian notion of conventions in the determination of investment. Our model is estimated by applying the difference GMM and the system GMM to a panel of 14 OECD countries from 1970 to 2010. |
publishDate |
2016 |
dc.date.none.fl_str_mv |
2016-12-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0104-06182016000300511 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0104-06182016000300511 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/1982-3533.2016v25n3art1 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Instituto de Economia da Universidade Estadual de Campinas Publicações |
publisher.none.fl_str_mv |
Instituto de Economia da Universidade Estadual de Campinas Publicações |
dc.source.none.fl_str_mv |
Economia e Sociedade v.25 n.3 2016 reponame:Economia e Sociedade instname:Universidade Estadual de Campinas (UNICAMP) instacron:UNICAMP |
instname_str |
Universidade Estadual de Campinas (UNICAMP) |
instacron_str |
UNICAMP |
institution |
UNICAMP |
reponame_str |
Economia e Sociedade |
collection |
Economia e Sociedade |
repository.name.fl_str_mv |
Economia e Sociedade - Universidade Estadual de Campinas (UNICAMP) |
repository.mail.fl_str_mv |
cbaltar@unicamp.br||ppec@unicamp.br||prates@unicamp.br |
_version_ |
1800216545634287616 |