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Bo, Hong and Lensin, Robert (2005) 'Is the Investment-Uncertainty Relationship Nonlinear? An Empirical Analysis for the Netherlands.' Economica, 72 (286). pp. 307-331.

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Abstract

We examine the investment–uncertainty relationship for a panel of Dutch non-financial firms. The system generalized method of moments (GMM) estimates suggest that the effect of uncertainty on investment is nonlinear: for low levels of uncertainty an increase in uncertainty has a positive effect on investment, while 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 documented empirically.

Item Type: Journal Article
SOAS Departments & Centres: Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management
ISSN: 14680335
DOI (Digital Object Identifier): https://doi.org/10.1111/j.0013-0427.2005.00416.x
Date Deposited: 01 Jul 2008 10:28
URI: https://eprints.soas.ac.uk/id/eprint/3382

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