The Resource Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing, Arne Bigsten, (electronic resource)

Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing, Arne Bigsten, (electronic resource)

Label
Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing
Title
Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing
Statement of responsibility
Arne Bigsten
Creator
Subject
Language
eng
Summary
This paper examines dynamic patterns of investment in Cameroon, Ghana, Kenya, Zambia and Zimbabwe, assessing the consistency of those patterns with different adjustment cost structures. Using survey data on manufactured firms, we document the importance of zero investment episodes and lumpy investment. The proportion of firms experiencing large investment spikes is significant in explaining aggregate manufacturing investment. Taken together, evidence from descriptive statistics, average investment regressions modeling the response to capital imbalance, and transition data analysis indicate that irreversibility is an important factor considered by firms when making investment plans. The picture is not unanimous however, and some explanations for the mixed results are proposed
Member of
Cataloging source
DcWaIMF
http://library.link/vocab/creatorName
Bigsten, Arne
Government publication
international or intergovernmental publication
Literary form
non fiction
Nature of contents
dictionaries
Series statement
IMF Working Papers; Working Paper
Series volume
No. 99/99
http://library.link/vocab/subjectName
  • Adjustment Costs
  • African Manufacturing
  • Duration Dependence
  • Fixed Costs
  • Investment Rate
  • Nonparametric Methods
  • Cameroon
  • Zimbabwe
Label
Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing, Arne Bigsten, (electronic resource)
Instantiates
Publication
Color
multicolored
Dimensions
unknown
Extent
1 online resource (53 p.)
Form of item
online
Isbn
9781451852257
Issn
1018-5941
Other control number
10.5089/9781451852257.001
Specific material designation
remote
System control number
(IMF)WPIEA0991999
Label
Adjustment Costs, Irreversibility and Investment Patterns in African Manufacturing, Arne Bigsten, (electronic resource)
Publication
Color
multicolored
Dimensions
unknown
Extent
1 online resource (53 p.)
Form of item
online
Isbn
9781451852257
Issn
1018-5941
Other control number
10.5089/9781451852257.001
Specific material designation
remote
System control number
(IMF)WPIEA0991999

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