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Record Nr. |
UNINA9910973351003321 |
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Autore |
Roache Shaun |
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Titolo |
Domestic Investment and the Cost of Capital in the Caribbean / / Shaun Roache |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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9786613821966 |
9781462368976 |
1462368972 |
9781452735009 |
145273500X |
9781282541252 |
1282541250 |
9781452703398 |
1452703396 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (46 p.) |
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Collana |
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Soggetti |
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Investments - Caribbean Area |
Capital costs - Caribbean Area |
Banks and Banking |
Capacity |
Capital |
Finance |
Financial Instruments |
Institutional Investors |
Intangible Capital |
Interest rates |
Interest Rates: Determination, Term Structure, and Effects |
Investment & securities |
Investment |
Investments: General |
Investments: Stocks |
Macroeconomics |
National Government Expenditures and Related Policies: Infrastructures |
Non-bank Financial Institutions |
Other Public Investment and Capital Stock |
Pension Funds |
Private investment |
Public finance & taxation |
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Public Finance |
Public investment and public-private partnerships (PPP) |
Public investment spending |
Public investments |
Public-private sector cooperation |
Real interest rates |
Saving and investment |
Stocks |
Trinidad and Tobago |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. TRENDS IN REGIONAL INVESTMENT 6""; ""III. LITERATURE REVIEW""; ""IV. A BASIC INVESTMENT MODEL""; ""V. DATA""; ""VI. ESTIMATION ISSUES""; ""VII. ESTIMATION RESULTS""; ""VIII. CONCLUSIONS""; ""References""; ""Data Sources and Estimates "" |
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Sommario/riassunto |
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Investment-to-GDP ratios across the Caribbean tend to be relatively high. In many countries, these ratios have been trending higher since the mid-1990s, largely reflecting public investment and foreign direct investment. Private domestic investors have been less prominent. This may be one reason why such high investment has delivered Caribbean growth rates below the middle-income average. This paper seeks to understand how higher private investment may be encouraged. Using new data, it concludes that: the multiplier effects of public investment and FDI on private domestic investment are weak; and private domestic investment (PDI) is sensitive to the cost of capital. Public policy designed to raise PDI should focus on creating conditions for a lower cost of capital. The focus should be on removing barriers to lower real interest rates, rather than the further extension of costly tax concessions. |
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