The causal relationship between private and public investment in Zimbabwe : WestminsterResearch

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Title	The causal relationship between private and public investment in Zimbabwe
Authors	Muyambiri, B., Chiwira, O., Ngonidzashe, C. and Enowbi Batuo, M.
Abstract	Aims: The study examines the relationship between private and public investment in Zimbabwe utilizing yearly time series data for the period 1967 to 2004. Study Design: Time Series Study. Place and Duration of Study: Zimbabwe, May 2011 to July 2011. Methodology: Emphasis is placed on the direction of causality and the long run and short run effect of the two types of investment on each other. The paper constructs empirical models for both private and public investment, based on the flexible accelerator theory. Private investment is found to be cointegrated with public investment. A cointergration and VEC models are employed to assess the long and short run relationship existing between public and private investment. Conclusion: The relationship between private and public investment is found to be insignificant and the direction of causality found to be unidirectional. The results support the notion that private investment precedes public investment.
Journal	British Journal of Economics, Management & Trade
Journal citation	2 (3), pp. 239-264
ISSN	2278-098X
Year	2012
Publisher	SCIENCEDOMAIN international
Digital Object Identifier (DOI)	https://doi.org/10.9734/BJEMT/2012/1213#sthash.vRIGH6Eu.dpuf
Published	22 Sep 2012

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