Financial factors in the determination of private fixed capital accumulation: theory and evidence from the Turkish economy
Günçavdi, Öner (1996) Financial factors in the determination of private fixed capital accumulation: theory and evidence from the Turkish economy. PhD thesis, University of Nottingham.
This is an analysis of the investment behaviour of Turkish firms at the aggregate and sectoral levels. Despite the growing literature of empirical private investment studies, a theory-based approach to modelling investment is rare both for developing countries in general and for Turkey in particular. One of the most commonly used modelling strategies is to adapt the main elements of the neoclassical accelerator model subject to additional structural modifications for a developing country. However, many of these studies are eclectic in the sense that they are not based on any specification of the microeconomic optimisation problem of firms. The central purpose of the thesis is to develop econometrically estimateable investment functions based on a sound microeconomic framework.
Actions (Archive Staff Only)