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首页> 外文期刊>International Journal of Economics and Finance >Moderating Effect of Political Risk on the Relationship between Capital Expenditure and Sectoral Economic Growth in Kenya
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Moderating Effect of Political Risk on the Relationship between Capital Expenditure and Sectoral Economic Growth in Kenya

机译：政治风险对肯尼亚资本支出与部门经济增长关系的调节效应

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The study sought to determine the effect of capital expenditure on Sectoral economic growth and the moderating effect of political risk on the relationship using Auto Regressive Distributed Lag model. The study targeted 11 sectors that receive government expenditure and adopted positivist philosophy and a causal research design. Secondary data for the period 2006-2015 was collected from Kenya National Bureau of Statistics Statistical Abstracts, Kenya National Audit Office reports and Political Risk Group reports. The study conducted Hausman Test, Panel Stationarity Test and Heterogeneity Test as preliminary tests. The study found that capital expenditure has a significant effect on Sectoral economic growth both in the long run and short run. The study further found that political risk has a significant moderating effect on the relationship between capital expenditure and Sectoral economic growth in the long run at the significance level of 0.05. The study concluded that capital expenditure has an effect on sectoral economic growth in Kenya both instantaneously and in the long run. As well, Political risk curbs the effect of capital expenditure in the long run. The study recommends enhancement of capital expenditure. Additionally, the government should enhance political stability to accelerate growth.
机译：该研究试图确定资本支出对部门经济增长的影响以及使用自动回归分布式滞后模型对关系的调节效应。该研究针对11个接受政府支出并通过了实证主义哲学和因果研究设计的11个部门。从肯尼亚国家统计摘要局收集了2006 - 2015年期间的二级数据，肯尼亚国家审计局报告和政治风险集团报告。该研究进行了Hausman试验，面板纯度测试和异质性测试作为初步测试。该研究发现，在长期和短期运行中，资本支出对部门经济增长具有显着影响。该研究进一步发现，政治风险对资本支出与部门经济增长之间的关系进行了重大缓和的影响，这些效果长期以来的重要性水平为0.05。该研究得出结论，资本支出对肯尼亚的部门经济增长效果瞬间，从长远来看。此外，政治风险遏制了长期资本支出的影响。该研究建议加强资本支出。此外，政府应加强政治稳定，以加速增长。

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