An Empirical Study of Sectoral-Level Investments in New Zealand
DOI:
https://doi.org/10.6000/1929-7092.2014.03.11Keywords:
Investments, total factor productivity, panel data.Abstract
We extend the Glick and Rogoff (1995) aggregate time-series, empirical, intertemporal model of country-investment to a sectoral-level, and estimate it for New Zealand. We fit the model to panel data of eleven industries from 1988-2009. The sectoral-level investment growth is a function of lagged investment level, sector-specific total factor productivity shocks (TFP), country-specific TFP shocks, and global TFP shocks. The estimates seem robust to government spending shocks and Terms of Trade shocks.Published
2014-06-13
How to Cite
Razzak, W. A. (2014). An Empirical Study of Sectoral-Level Investments in New Zealand. Journal of Reviews on Global Economics, 3, 140–155. https://doi.org/10.6000/1929-7092.2014.03.11
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