Efficiency of investment in Fiji: results of a empirical study
Dept. of Economics, University of the South Pacific, 2003 - Business & Economics - 10 pages
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30-year period ADF test AY/AK AY/Y bank Brief Literature Survey capital intensive capital output ratio civilian coup coefficient Commerce Division cyclones Dependent Variable developing countries dummy for political dummy variable econometric economic liberalisation efficiency of capital efficiency of investment Empirical Study explanatory variables financial institutions financial sector reforms free market conditions funding institutions Government of Fiji ICOR Ikhide improved financial intermediation including Fiji Incremental capital Incremental output influence on investment investment efficiency Investment in Fiji investment levels investment rates investment that mattered INVRATIO IOCR RD Jayaraman 2001 KPSS test Lincoln University lingering impact military coups money to GDP nonstationary null hypothesis parameter policies political instability D2 poor investment climate positive real interest private investment private sector proportion of GDP public investment public sector investment rates and promoted ratio of private real interest rate Series Properties Seruvatu and Jayaraman stationary statistically significant influence Strategic Development Plan test equations trend unprofitable projects