In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international … the relative price of investment to build and estimate these IST processes across the U.S and a ""rest of the world …

. While some countries need to raise consumption, several need to raise investment or reorient it from tradable to nontradable … sectors. These changes in investment could be facilitated by financial reforms that enhance domestically oriented firms … uncertainty, and by improvements in infrastructure that raise the returns to private investment …

investment; and (3) the structural reforms implemented in Pakistan during the past four years should make the observed … strengthening in domestic savings and rise in domestic investment permanent, auguring well for accelerated growth within a …, and by an acceleration of structural reforms to further improve productivity and the investment climate …