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Jagannath Mallick - One of the best experts on this subject based on the ideXlab platform.
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Private Investment in India: regional patterns and determinants
The Annals of Regional Science, 2012Co-Authors: Jagannath MallickAbstract:This paper analyses Private Investment by type for 15 major states over the period from 1993–1994 to 2004–2005. This study is new in investigating the determinants of total Private Investment and domestic Private Investment at the state level in the Indian context by using generalized method of moments panel estimator. The results show that there is high variation in Private Investment across Indian states. The results obtained from the regressions show that Private Investment in the Indian states is explained by infrastructure, the gross fiscal deficit, market size and labour productivity. This paper contributes to the literature on regional development by empirically establishing the existence of simultaneity between Private Investment and income at the state level in Indian economy.
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Private Investment in ICT Sector of Indian States
Indian economic review, 2012Co-Authors: Jagannath MallickAbstract:This paper provides a framework to estimate Private Investment in Information and Communication Technology (ICT) sector in Indian states and explores the determinants using panel regression methods covering the period from 1999–2000 to 2004–05. There is no study dealing with these issues in the Indian context, importantly due to the paucity of data. The study finds that there is high variation in Private Investment in ICT sector across the states. The factors including labour productivity, agglomeration of economy, Research and Development, physical infrastructures, ICT sector specific infrastructure and human resources, and state’s wealth explain the inter-state variation in Private Investment in ICT sector in the Indian states. As Investment in the ICT sector is mainly sourced from the Private sector, and has a crucial role in the process of economic growth in India, the policy makers should lay emphasis on these factors influencing the Private Investment in ICT sector to reduce the disparity in economic growth across states.
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Trends and Patterns of Private Investment in India
2009Co-Authors: Jagannath MallickAbstract:This study aims at providing an understanding of the economic structure and structural changes in Private Investment in the Indian economy. The overarching problem addressed in this study is whether or not identifiable structural transformation has occurred due to economic reforms in India. What were the trends in Private Investment in India? Structural transformation is confined to the shifting or movement of resources from one sector to another within the Private economy. This study utilised descriptive statistics like annual average growth rate, share and Z test statistics to find out the sectoral and sub-sectoral contributions to the growth of Private Investment in India as well as to verify the structural changes. The research questions addressed were: What were the short term and long term trends in Private Investment at the aggregate, sectoral and sub-sectoral levels? What was the contribution of the sectors and their sub-sectors to the growth of Private Investment in India before and after the reforms? Did an identifiable structural transformation occur in the Indian economy? The National Accounts Statistics (NAS) was used for the data on Private Investment for the analysis of this study. The analysis revealed that the rate of capital formation had increased in the Private sector and decreased in the public sector after economic reforms. Further, the industrial sector had been ranked one in terms of its contribution to the growth of Private Investment followed by the service and agricultural sectors in India in the short term as well as long term. However, the growth of Private Investment in the service sector was considerably higher in the post reform period than the pre-reform period. Further, the annual average of growth of Private Investment in the service sector was almost equal to the industrial secto in the post-reform period. Therefore, the service sector played a very important role in attracting Private Investment during the economic reforms period. The service sector comprises, among others, consumer and producer services. Further, it was found that the contribution of producer services, which includes real estate, ownership of dwellings and business services, and others, contributed to the growth of Private Investment in the service sector in India. In this context it is very important to study whether or not identifiable structural transformations in terms of Private Investment occurred in India.
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Private Investment in India: Data and Measurement Issue at the state level
Journal of Income & Wealth, 2008Co-Authors: Jagannath MallickAbstract:One of the remarkable features of economic reforms in the 1990s has been the rise in the volume and importance of Private Investment i.e., both foreign and domestic in India. In this context this paper attempts to estimate the domestic Private Investment at the aggregate and sectoral levels in India. Second, the role of Private Investment has an important role in wiping out the inter-state disparity in economic growth. Due to data constraint on inter-regional allocation of Private Investment, this study aims to estimate the inter-state Private Investment in India, by allocating the national Investment on the basis of share of GSDP of states and national public Investment on the basis of the share of combined capital expenditure. In addition, national net inflow of FDI is allocated across the states in order to generate the foreign part of states Private Investment. All these estimates are based on the National Income Statistics. The analysis and estimates of the paper demonstrate the utililisation and applicability of National Accounts Statistics for further studies on inter-regional allocation of Private Investment in post reform periods in India.
Tang Mao-lin - One of the best experts on this subject based on the ideXlab platform.
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REGIONAL DIFFERENCES AND AFFECTING FACTORS OF THE Private Investment IN CHINA
Economic Geography, 2008Co-Authors: Tang Mao-linAbstract:The Private Investment,an important part of all social Investments,has played a great role in Chinese economic development since 1978.But the issues relating to the distribution inequality of the Private Investment in China do not receive enough academic attentions.By using the related data from 1993 to 2004,this article studies the Private Investment disparities and its affecting factors in China.The results indicate that the Private Investment is mostly concentrated in the eastern costal region and the area along the Yangtze River and Beijing-Guangzhou railway.Recently there is a major shift of the Private Investment from the south to the north and the midwest reaches of the Yangtze River and the area along Longhai-Lanxin railway.In order to analyze the above changing pattern of Private Investment in China,we build an econometric model.On the basis of the model,we make a regression analysis.Based on the regression results, we make an investigation of the driving forces about the inequality and relative changes of the Private Investment in China from three main categories of traditional factors,agglomeration factors and intervening factors.At last we draw some conclusions and revelations: ①The regional inequality of Chinese Private Investment is an indication of the spatial economy in China.②Market mechanism and market volume are important determining factors of the regional pattern of Chinese Private Investment.③The effect of spatial self-cumulation of Private Investment makes it difficult to change the regional pattern of Private Investment in short period of time.④The government's polices and right positioning is of particular importance to attract Private Investment.⑤It is clear in recent years that the Private Investment actions are becoming more rational and market-oriented rather than speculation and blindness.
Ahmet Faruk Aysan - One of the best experts on this subject based on the ideXlab platform.
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Governance and Private Investment in the Middle East and North Africa
2011Co-Authors: Ahmet Faruk Aysan, Mustapha K. Nabli, Marie-ange VeganzonesAbstract:This paper addresses the issue of the low level of Private Investment in the Middle East and North Africa (MENA) region, with special emphasis on the role of governance. Based on the existing literature, we have categorized what types of governance institutions are more detrimental to entrepreneurial Investments. We have then estimated a simultaneous model of Private Investment and governance quality where economic policies concurrently explain both variables. Our empirical results show that governance plays a significant role in Private Investment decisions. This result is particularly true in the case of “Administrative Quality” in the form of control of corruption, bureaucratic quality, Investment-friendly profile of administration, and law and order, as well as for “Political Stability”. Evidence in favor of “Public Accountability” seems, however, less robust. Our estimations also stress that structural reforms -- such as financial development and trade openness – and human development affect Private Investment decisions directly, and/or through their positive impact on governance. These findings bring new empirical evidence on the subject of Private Investment in the developing world and in MENA countries in particular.
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Governance And Private Investment In The Middle East And North Africa - Governance and Private Investment in the Middle East and North Africa
Policy Research Working Papers, 2006Co-Authors: Ahmet Faruk Aysan, Mustapha K. Nabli, Marie-ange Veganzones-varoudakisAbstract:This paper addresses the issue of the low level of Private Investment in the Middle East and North Africa (MENA) region, with special emphasis on the role of governance. Based on the existing literature, we have categorized what types of governance institutions are more detrimental to entrepreneurial Investments. We have then estimated a simultaneous model of Private Investment and governance quality where economic policies concurrently explain both variables. Our empirical results show that governance plays a significant role in Private Investment decisions. This result is particularly true in the case of “Administrative Quality” in the form of control of corruption, bureaucratic quality, Investment-friendly profile of administration, and law and order, as well as for “Political Stability”. Evidence in favor of “Public Accountability” seems, however, less robust. Our estimations also stress that structural reforms -- such as financial development and trade openness – and human development affect Private Investment decisions directly, and/or through their positive impact on governance. These findings bring new empirical evidence on the subject of Private Investment in the developing world and in MENA countries in particular.
Nemat Shafik - One of the best experts on this subject based on the ideXlab platform.
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Modeling Private Investment in Egypt
Journal of Development Economics, 1992Co-Authors: Nemat ShafikAbstract:Abstract This paper presents an empirical model of Private Investment that takes into account certain features of a developing economy such as the oligopolistic structure of markets, putty-clay technology, the inelastic supply of non-traded capital goods and financial repression. The model is tested on Egyptian data using error correction and cointegration. The results for Egypt indicate that at the macroeconomic level, Private Investment depends on mark ups, internal financing, demand and the cost of Investment goods defined, not as the interest rate, but as the outcome of the interaction of supply and demand in the market for capital goods. The effects of government policy on Private Investment are mixed with some evidence of crowding out in credit markets and of crowding in as a result of government Investment: in infrastructure.
Sharafat Ali - One of the best experts on this subject based on the ideXlab platform.
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A Co Integration Approach to Estimate Private Investment Demand Function of Pakistan
Asian Journal of Research in Business Economics and Management, 2013Co-Authors: Sharafat AliAbstract:The present study estimates the long run Private Investment function for the period from 1972 to 2011 by using Johansen cointegration approach. The results suggest debt servicing, inflation and Private Investment to be negatively associated. The study concludes positive impact of GDP growth rate, foreign direct Investment, and exchange rate on Private Investment in Pakistan. The Wald (χ2) Statistics show that GDP, FDI and exchange rate Granger cause Private Investment. The significance of coefficient of the error correction term confirms the long run causality between explanatory variables and Private Investment. The pair-wise Granger causality concludes unidirectional causality from Private Investment to GDP growth, from Private Investment to foreign direct Investment, inflation rate to Private Investment and from Private Investment to exchange rate but causality test confirms bidirectional causality between debt servicing and Private Investment. The paper also suggests policy recommendations.
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A Cointegration Approach to Estimate Private Investment Demand Function of Pakistan
2013Co-Authors: Sharafat AliAbstract:The present study estimates the long run Private Investment function for the period from 1972 to 2011 by using Johansen cointegration approach. The results suggest debt servicing, inflation and Private Investment to be negatively associated. The study concludes positive impact of GDP growth rate, foreign direct Investment, and exchange rate on Private Investment in Pakistan. The Wald (χ2) Statistics show that GDP, FDI and exchange rate Granger cause Private Investment. The significance of coefficient of the error correction term confirms the long run causality between explanatory variables and Private Investment. The pair-wise Granger causality concludes unidirectional causality from Private Investment to GDP growth, from Private Investment to foreign direct Investment, inflation rate to Private Investment and from Private Investment to exchange rate but causality test confirms bidirectional causality between debt servicing and Private Investment. The paper also suggests policy recommendations.
