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The political economy of private investment in a developing economy : the case of Kenya
http://hdl.handle.net/2241/6479
http://hdl.handle.net/2241/64797c67e7f4-3730-45c9-b604-b358a9879f31
| Item type | Thesis or Dissertation(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2007-07-25 | |||||
| タイトル | ||||||
| タイトル | The political economy of private investment in a developing economy : the case of Kenya | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | jpn | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_db06 | |||||
| 資源タイプ | doctoral thesis | |||||
| アクセス権 | ||||||
| アクセス権 | open access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||
| 著者 |
Dickson, Khainga Oruko
× Dickson, Khainga Oruko |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | Exsiting theories of investmento look at private investment mainly from the point of view of the investor in terms of profitability,costs,market value of the firm or demand expectations.Consequently public policy is derected at creating an environment where pecuniary benefits of investors can be maximized. There is little or no regard as to how th invertment activities relate to material welfare of the people domiciled in a particular region. This approach has important shortcomings. First,it fails to recognize the weakness of the priveate sector to meeet the material welfare the populace aspire to achieve. Secondly, the importance of socipolitical factors becomes supermumerary. This study discussers an approach to inverstment that recognizes the importance of institutions, nature of businesses and direction of invertment expenditure emphasizing improvment and `innovation' as the central element of invertment in a developing economy. Using the conventional approaches to investment, we document the problem of private invertment in Kenya over the period 1975-1996 and attempt to explain the factors reponsible for the observed dismal performance. Our results suggest that excessive borrowing by the govermment from the financial sector mav have occasionally `crowded out' private investment. Contrary to `financial repression' predictions, high interest rates seem to have a dampenting effect on private investment. Macro economic policies in terms of price stability, budget defcits, exchange rate, exchange rate, extemal debt and financial intermdediation may help explain cross country differrences in invertment performance. This underscores the importance of sound macroeconomic management. Declining returms on investment on account of weak domestic and foreign demand, and declining producivity help explain the observed trends in investment. Our results seem to confirm the complementarity hypothesis as regards public invertment on infrastructure. The study concludes that if private investment acitivities in a developing nation are to geared toward upgrading in terms of product technology or production efficiency and diversification, then the current reforms in developing countries are neccessary but not sufficient to produce a dynamic privete sector. | |||||
| 言語 | en | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | Includes bibliographical references | |||||
| 言語 | en | |||||
| 書誌情報 |
発行日 2001 |
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| 取得学位 | ||||||
| 言語 | ja | |||||
| 学位名 | 博士（国際政治経済学） | |||||
| 取得学位 | ||||||
| 言語 | en | |||||
| 学位名 | Doctor of Philosophy in International Political Economy | |||||
| 学位授与大学 | ||||||
| 学位授与機関識別子Scheme | kakenhi | |||||
| 学位授与機関識別子 | 12102 | |||||
| 言語 | ja | |||||
| 学位授与機関名 | 筑波大学 | |||||
| 言語 | en | |||||
| 学位授与機関名 | University of Tsukuba | |||||
| 学位授与年度 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 2000 | |||||
| 学位授与年月日 | ||||||
| 学位授与年月日 | 2001-03-23 | |||||
| 報告番号 | ||||||
| 学位授与番号 | 甲第2504号 | |||||
