We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes … the costs of external borrowing and (ii) a real options channel-reflecting firms' option values to delay investment. We … find evidence of the coexistence of both channels. Financially weaker firms reduce investment by more in response to higher …

We document that (i) although private investment growth in emerging markets has decelerated in recent years, it came … down from cyclical highs and remains close to pre-crisis trends; and (ii) investment-to-output ratios generally remain … close to or above historical averages. We show that investment is positively related to expect future profitability, cash …

We study the response of corporate investment in Emerging Markets to unexpected fiscal shocks. We find that, although … firm-level investment decreases on impact following unexpected public expenditure adjustments (classical Keynesian … multiplier effect), it quickly rises above pre-shock levels. The rebound in investment is facilitated by fiscal space, flexible …

Over the past decade, South Africa has attracted relatively little foreign direct investment (FDI), but considerable …

This paper analyzes the evolution of investment in China, its main features, and its key determinants. In recent years …, manufacturing, real estate, and infrastructure have been the main drivers of investment. Investment remains largely concentrated in … determinants of investment indicates that financial variables, such as interest rates, the exchange rate, and the depth of the …

This paper proposes a possible framework for identifying excessive investment. Based on this method, it finds evidence … that some types of investment are becoming excessive in China, particularly in inland provinces. In these regions, private … consumption has on average become more dependent on investment (rather than vice versa) and the impact is relatively short …

Over the past two decades, the growth rate of outward foreign direct investment (FDI) from developing and transition …, it is important to assess how domestic investment responds to such outflows. This study empirically examines the effects … of outward FDI on domestic investment in developing countries. Using data from 121 developing and transition economies …

In this paper I apply firm-level analysis to examine how the Brexit process has affected business investment in the UK … had a considerable and statistically significant negative impact on firm investment in the UK after the referendum. At the … same time, the post-referendum sterling depreciation has likely contributed positively to investment expenditure by more …