Investment, finance and the business cycle: Evidence from the Dutch manufacturing sector

H vanEes*, GH Kuper, E Sterken

*Bijbehorende auteur voor dit werk

OnderzoeksoutputAcademicpeer review

6 Citaten (Scopus)

Samenvatting

In this paper we analyse the impact of profits on investment using data from the Dutch manufacturing sector in a simple Kaleckian investment model. Profits and capacity determine the level of investment. The empirical analysis of this 'non-mainstream' model confirms conclusions drawn in the context of financial accelerator models. The impact of profits on investment is countercyclical. Apparently, entrepreneurs use public capital markets primarily as a source of funds in booming periods.

Originele taal-2English
Pagina's (van-tot)395-407
Aantal pagina's13
TijdschriftCambridge Journal of Economics
Volume21
Nummer van het tijdschrift3
StatusPublished - mei-1997

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