Is the investment-uncertainty relationship non-linear?: an emperical [i.e. empirical] analysis for the Netherlands

H. Bo; R. Lensink

Is the investment-uncertainty relationship non-linear? an emperical [i.e. empirical] analysis for the Netherlands

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Abstract

We examine the investment-uncertainty relationship for a panel of Dutch manufacturing firms. The system generalised method of moments (GMM) estimates suggests that the effect of uncertainty on investment is non-linear: for low levels of uncertainty an increase in uncertainty has a positive effect on investment, whereas for high levels of uncertainty an increase in uncertainty lowers investment. This result is in line with a number of theoretical studies, but has never been demonstrated empirically.

Original language	English
Publisher	s.n.
Number of pages	24
Publication status	Published - 2000

Keywords

Nederland
Investeringen
Niet-lineair gedrag
Onzekerheid
85.30;

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abstract = "We examine the investment-uncertainty relationship for a panel of Dutch manufacturing firms. The system generalised method of moments (GMM) estimates suggests that the effect of uncertainty on investment is non-linear: for low levels of uncertainty an increase in uncertainty has a positive effect on investment, whereas for high levels of uncertainty an increase in uncertainty lowers investment. This result is in line with a number of theoretical studies, but has never been demonstrated empirically.",

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