Overview

Investment - in both facilities and know-how - is essential for growth. Economists try to understand the forces that determine investment, but investment behaviour is unruly; often the term animal spirits is used to explain the resulting volatility. This volume presents a new set of studies to explain international investment behaviour and assess its impact on growth and jobs. The authors also examine policy measures to reverse the climate of low investment that has characterised recent decades. The contributors examine how well standard models of investment work, the role of finance constraints, the effect of risk and uncertainty, the impact of alternative forms of corporate governance, the forces shaping the adoption of new technology, the impact of foreign direct investment, the effect of investment on the NAIRU and the causal structure of investment and growth. Editors introductions to the different sections of the book provide comprehensive overviews of the main theories of investment, the impact of investment on growth and employment and examine the main questions raised for policy makers. Investment, Growth and Employment brings together in a single volume the main strands of work on investment and surveys the existing frontiers of knowledge. It will be of value to all students of and researchers in political economy, macroeconomics, the UK and European economies, business economics. Finally, its argument that governments need to actively promote a climate of growth in the new Europe will be of interest to all interested policy -akers

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9780415197809

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Ciaran Driver, Paul Temple

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