{"created":"2021-03-01T06:43:37.780685+00:00","id":8258,"links":{},"metadata":{"_buckets":{"deposit":"75e13b42-15fd-459b-a1a4-0057979843bd"},"_deposit":{"id":"8258","owners":[],"pid":{"revision_id":0,"type":"depid","value":"8258"},"status":"published"},"_oai":{"id":"oai:tsukuba.repo.nii.ac.jp:00008258","sets":["3:233:241"]},"author_link":["34493"],"item_12_biblio_info_6":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2001","bibliographicIssueDateType":"Issued"}}]},"item_12_date_granted_46":{"attribute_name":"学位授与年月日","attribute_value_mlt":[{"subitem_dategranted":"2001-03-23"}]},"item_12_degree_grantor_44":{"attribute_name":"学位授与大学","attribute_value_mlt":[{"subitem_degreegrantor":[{"subitem_degreegrantor_language":"ja","subitem_degreegrantor_name":"筑波大学"},{"subitem_degreegrantor_language":"en","subitem_degreegrantor_name":"University of Tsukuba"}],"subitem_degreegrantor_identifier":[{"subitem_degreegrantor_identifier_name":"12102","subitem_degreegrantor_identifier_scheme":"kakenhi"}]}]},"item_12_degree_name_43":{"attribute_name":"取得学位","attribute_value_mlt":[{"subitem_degreename":"博士（国際政治経済学）"},{"subitem_degreename":"Doctor of Philosophy in International Political Economy"}]},"item_12_description_4":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"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.","subitem_description_language":"en","subitem_description_type":"Abstract"}]},"item_12_description_45":{"attribute_name":"学位授与年度","attribute_value_mlt":[{"subitem_description":"2000","subitem_description_type":"Other"}]},"item_12_description_5":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"Includes bibliographical references","subitem_description_language":"en","subitem_description_type":"Other"}]},"item_12_dissertation_number_47":{"attribute_name":"報告番号","attribute_value_mlt":[{"subitem_dissertationnumber":"甲第2504号"}]},"item_access_right":{"attribute_name":"アクセス権","attribute_value_mlt":[{"subitem_access_right":"open 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