Investment and institutional uncertainty: A comparative study of different uncertainty measures

被引：93

作者：

Brunetti, A ^{[1
]}

Weder, B ^{[1
]}

机构：

[1] Univ Basel, Dept Econ, CH-4003 Basel, Switzerland

来源：

WELTWIRTSCHAFTLICHES ARCHIV-REVIEW OF WORLD ECONOMICS | 1998年 / 134卷 / 03期

关键词：

D O I：

10.1007/BF02707928

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

There is ample empirical evidence of a negative relationship between aspects of institutional uncertainty and investment. Most studies, however, do not allow a comparison between different dimensions of such uncertainty because they focus on specific indicators, particular regions or different periods. The paper concludes with an evaluation of the quantitative effects of the significant uncertainty indicators on investment finding that a lack of rule of law, high corruption, and volatility in real exchange rate distortions are the most detrimental for investment. JEL no. E22, O11

引用

页码：513 / 533

页数：21

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