An Empirical Study of Sectoral-Level Capital Investments in New Zealand

I extend the Glick and Rogoff (1995) aggregate time-series, empirical, intertemporal model of country-investment (and the current account) to a sectoral-level, and estimate it for New Zealand. I fit the model to panel data of eleven industries from 1988-2009. The sectoral-level investment growth is a function of lagged investment level, sector-specific TFP shocks, country-specific TFP shocks, and global TFP shocks. The estimates seem robust to government spending shocks and Terms of Trade shocks.

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Year of publication:	2014
Authors:	Razzak, Weshah
Publisher:	Wellington : New Zealand Government, The Treasury
Subject:	Investition \| Branche \| Produktivitätsentwicklung \| Schock \| Branchenentwicklung \| Panel \| Neuseeland \| Investments \| sectoral-level \| TFP shocks \| panel data

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Series:	New Zealand Treasury Working Paper ; 14/04
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
ISBN:	978-0-478-42114-9
Other identifiers:	hdl:10419/205659 [Handle] RePEc:nzt:nztwps:14/04 [RePEc]
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; C2 - Econometric Methods: Single Equation Models ; C3 - Econometric Methods: Multiple/Simultaneous Equation Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10012115671