LEADER 05207oam 22011534 450 001 9910779225403321 005 20230802005430.0 010 $a1-4639-5085-3 010 $a1-4639-5026-8 035 $a(CKB)2550000000106451 035 $a(EBL)1606617 035 $a(SSID)ssj0000949371 035 $a(PQKBManifestationID)11512171 035 $a(PQKBTitleCode)TC0000949371 035 $a(PQKBWorkID)10996603 035 $a(PQKB)11414419 035 $a(MiAaPQ)EBC1606617 035 $a(Au-PeEL)EBL1606617 035 $a(CaPaEBR)ebr10569535 035 $a(OCoLC)779529754 035 $a(IMF)WPIEE2012070 035 $a(IMF)WPIEA2012070 035 $a(EXLCZ)992550000000106451 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDoes the Business Environment Affect Corporate Investment in India? /$fKiichi Tokuoka 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (24 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4639-5025-X 311 $a1-4639-3906-X 327 $aCover; Contents; I. Introduction; Figures; 1. Investment in India; II. Analysis of Macroeconomic Data; Tables; 1. Impact of Macroeconomic Variables on Corporate Investment; III. Analysis of Firm-Level Micro Panel Data; 2. Estimation of Investment Function; 3. Estimation of Investment Function Using Subsamples; 2. Determinants of Corporate Investment; 3. Business Environment Indices; 4. Variability of Business Environment within India; 4. Regression of Profitability; Box; 1. Studies Utilizing Variability within India; IV. Policy Issues and Conclusions 327 $a5. Estimated Aggregate Impact of Reducing Costs of Doing BusinessReferences; Appendices; A. Regression Results Using Alternative Data Set; B. Description of Semi-aggregate Data 330 3 $aSince the global financial crisis, corporate investment has been weak in India. Sluggish corporate investment would not only moderate growth from the demand side but also constrain growth from the supply side over time. Against this background, this paper analyzes the reasons for the slowdown and discusses how India can boost corporate investment, using both macro and firm-level micro data. Analysis of macro data indicates that macroeconomic factors can largely explain corporate investment but that they do not appear to account fully for recent weak performance, suggesting a key role of the business environment in reviving corporate investment. Analysis of micro panel data suggests that improving the business environment by reducing costs of doing business, improving financial access, and developing infrastructure, could stimulate corporate investment. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/070 606 $aCorporations$zIndia$xFinance 606 $aInvestments$zIndia 606 $aBanks and Banking$2imf 606 $aCorporate Finance$2imf 606 $aInfrastructure$2imf 606 $aInvestments: General$2imf 606 $aInvestment$2imf 606 $aCapital$2imf 606 $aIntangible Capital$2imf 606 $aCapacity$2imf 606 $aCorporate Finance and Governance: General$2imf 606 $aFinancial Institutions and Services: General$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aCorporate finance$2imf 606 $aMacroeconomics$2imf 606 $aFinance$2imf 606 $aCorporate investment$2imf 606 $aBusiness environment$2imf 606 $aGross fixed investment$2imf 606 $aReal interest rates$2imf 606 $aNational accounts$2imf 606 $aEconomic sectors$2imf 606 $aFinancial services$2imf 606 $aSaving and investment$2imf 606 $aBusiness enterprises$2imf 606 $aInterest rates$2imf 607 $aIndia$2imf 615 0$aCorporations$xFinance. 615 0$aInvestments 615 7$aBanks and Banking 615 7$aCorporate Finance 615 7$aInfrastructure 615 7$aInvestments: General 615 7$aInvestment 615 7$aCapital 615 7$aIntangible Capital 615 7$aCapacity 615 7$aCorporate Finance and Governance: General 615 7$aFinancial Institutions and Services: General 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aCorporate finance 615 7$aMacroeconomics 615 7$aFinance 615 7$aCorporate investment 615 7$aBusiness environment 615 7$aGross fixed investment 615 7$aReal interest rates 615 7$aNational accounts 615 7$aEconomic sectors 615 7$aFinancial services 615 7$aSaving and investment 615 7$aBusiness enterprises 615 7$aInterest rates 700 $aTokuoka$b Kiichi$01476613 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779225403321 996 $aDoes the Business Environment Affect Corporate Investment in India$93762939 997 $aUNINA