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Public policy and private investment in one -based sector economy of developing countries: An empirical study of the Saudi Arabian private investment sector.

机译：发展中国家一部门经济中的公共政策和私人投资：对沙特阿拉伯私人投资部门的实证研究。

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摘要

According to economics experts, private investment plays an important part in long term stabilization, development and growth in developing countries. To increase the development process, many developing countries have chosen to increase the accumulation of real physical capital stock. Changes in private investment have an especially important impact on the economies of developing countries. Because of this, it is important not only to understand the factors that influence domestic private investment, but also how investments react when changes are made to public policy.;The main objectives of this study are: (1) to estimate the magnitude and the importance of private investment in the Saudi Arabian economy, and (2) to examine the enormity of the functional relationship of economic factors affecting the private investment sector. Content analysis is the approach used to achieve the first objective, while a modified version of neoclassical investment model for Saudi Arabia is developed to achieve the second objective. The model is examined by a variety of econometric techniques. These techniques include ordinary least squares using actual data of explanatory variables, ordinary least-squares using instrumental variables, structural change, unit roots and cointegration, Granger-causality tests and multiplier effects of economic sectors on private investment.;The findings of the estimated models show that the major economic factors positively affecting the Saudi Arabian private investment sector are government infrastructural investment, financial credits by both government funding agencies and commercial banks and non-oil exports, including petrochemical products. The non-oil exports factor, excluding petrochemical products, appears to be insignificant when it is included in the investment models. The results of the estimated econometric techniques also illustrate economic factors that are crowding out the private investment sector in the kingdom. These factors are government deficit and government non-infrastructural investment. The government deficit is strongly crowding out private investment, especially in the long-run. In general, the results show that private investment and most explanatory variables have long-run relationships.
机译：根据经济学专家的说法，私人投资在发展中国家的长期稳定，发展和增长中起着重要的作用。为了增加发展进程，许多发展中国家选择增加实际有形资本存量的积累。私人投资的变化对发展中国家的经济具有特别重要的影响。因此，重要的是不仅要了解影响国内私人投资的因素，而且还应了解在公共政策发生变化时投资如何做出反应。本研究的主要目标是：（1）估计规模和规模。私人投资在沙特阿拉伯经济中的重要性，以及（2）研究影响私人投资部门的经济因素的功能关系的巨大性。内容分析是实现第一个目标的方法，而沙特阿拉伯新古典主义投资模型的修改版则用于实现第二个目标。该模型通过各种计量经济学技术进行了检验。这些技术包括使用解释变量的实际数据的普通最小二乘法，使用工具变量，结构变化，单位根和协整，格兰杰因果检验以及经济部门对私人投资的乘数效应的普通最小二乘法;表明，对沙特阿拉伯私人投资部门产生积极影响的主要经济因素是政府基础设施投资，政府资助机构和商业银行的金融信贷以及石化产品等非石油出口。当将非石油出口因素（不包括石化产品）纳入投资模型时，它似乎微不足道。估计的计量经济学技术的结果还表明，经济因素正挤占沙特阿拉伯的私人投资部门。这些因素是政府赤字和政府非基础设施投资。政府的财政赤字正严重挤出私人投资，特别是从长期来看。总的来说，结果表明私人投资和大多数解释变量具有长期关系。

著录项

  • 作者

    Alhajhouj, Hassan Refdan.;

  • 作者单位

    Washington State University.;

  • 授予单位 Washington State University.;
  • 学科 Economics General.;Economics Finance.
  • 学位 Ph.D.
  • 年度 1999
  • 页码 193 p.
  • 总页数 193
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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