{"id":"https://openalex.org/W2118180786","doi":"https://doi.org/10.1002/jid.1465","title":"Can macroeconomic policy stimulate private investment in South Africa? New insights from aggregate and manufacturing sector\u2010level evidence","display_name":"Can macroeconomic policy stimulate private investment in South Africa? New insights from aggregate and manufacturing sector\u2010level evidence","publication_year":2008,"publication_date":"2008-07-09","ids":{"openalex":"https://openalex.org/W2118180786","doi":"https://doi.org/10.1002/jid.1465","mag":"2118180786"},"language":"en","primary_location":{"id":"doi:10.1002/jid.1465","doi":"https://doi.org/10.1002/jid.1465","is_oa":false,"landing_page_url":"https://doi.org/10.1002/jid.1465","pdf_url":null,"source":{"id":"https://openalex.org/S96563387","display_name":"Journal of International Development","issn_l":"0954-1748","issn":["0954-1748","1099-1328"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of International Development","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://scholarworks.umass.edu/bitstreams/aad53eed-3842-478c-a48b-64d1ccc31e6f/download","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5030298269","display_name":"L\u00e9once Ndikumana","orcid":"https://orcid.org/0000-0002-3801-9626","observed_orcids":["https://orcid.org/0000-0002-3801-9626"]},"institutions":[{"id":"https://openalex.org/I24603500","display_name":"University of Massachusetts Amherst","ror":"https://ror.org/0072zz521","country_code":"US","type":"education","lineage":["https://openalex.org/I24603500"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Leonce Ndikumana","raw_affiliation_strings":["University of Massachusetts, Amherst, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Massachusetts, Amherst, USA","institution_ids":["https://openalex.org/I24603500"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5030298269"],"corresponding_institution_ids":["https://openalex.org/I24603500"],"apc_list":{"value":3350,"currency":"USD","value_usd":3350},"apc_paid":null,"fwci":1.7865,"has_fulltext":true,"cited_by_count":32,"citation_normalized_percentile":{"value":0.89194191,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"20","issue":"7","first_page":"869","last_page":"887"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.5917999744415283,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.5917999744415283,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11770","display_name":"Fiscal Policy and Economic Growth","score":0.3352000117301941,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.06710000336170197,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/macroeconomic-policy","display_name":"macroeconomic policy","score":0.8489999771118164},{"id":"https://openalex.org/keywords/private-investment","display_name":"private investment","score":0.9980000257492065},{"id":"https://openalex.org/keywords/south-africa","display_name":"South Africa","score":0.6549999713897705},{"id":"https://openalex.org/keywords/public-investment","display_name":"public investment","score":0.9829999804496765},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.9309999942779541},{"id":"https://openalex.org/keywords/access-to-credit","display_name":"access to credit","score":0.6499999761581421},{"id":"https://openalex.org/keywords/exchange-rate-instability","display_name":"exchange rate instability","score":0.9300000071525574},{"id":"https://openalex.org/keywords/manufacturing-industry","display_name":"manufacturing industry","score":0.847000002861023},{"id":"https://openalex.org/keywords/determinants-of-investment","display_name":"determinants of investment","score":0.7459999918937683}],"concepts":[{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.6861250400543213},{"id":"https://openalex.org/C121426985","wikidata":"https://www.wikidata.org/wiki/Q591763","display_name":"Private sector","level":2,"score":0.6299891471862793},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5857406854629517},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5520749092102051},{"id":"https://openalex.org/C2779918689","wikidata":"https://www.wikidata.org/wiki/Q3771842","display_name":"Stimulus (psychology)","level":2,"score":0.551748514175415},{"id":"https://openalex.org/C203379541","wikidata":"https://www.wikidata.org/wiki/Q1801078","display_name":"Aggregate demand","level":3,"score":0.5090196132659912},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.49938082695007324},{"id":"https://openalex.org/C2988460067","wikidata":"https://www.wikidata.org/wiki/Q55639","display_name":"Manufacturing sector","level":2,"score":0.47358232736587524},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.4623158872127533},{"id":"https://openalex.org/C2994464924","wikidata":"https://www.wikidata.org/wiki/Q1929688","display_name":"Public investment","level":3,"score":0.41854071617126465},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.34503546357154846},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.3367137014865875},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.13718926906585693},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.13498419523239136},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.10102298855781555},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C542102704","wikidata":"https://www.wikidata.org/wiki/Q183257","display_name":"Psychotherapist","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0}],"mesh":[],"locations_count":11,"locations":[{"id":"doi:10.1002/jid.1465","doi":"https://doi.org/10.1002/jid.1465","is_oa":false,"landing_page_url":"https://doi.org/10.1002/jid.1465","pdf_url":null,"source":{"id":"https://openalex.org/S96563387","display_name":"Journal of International Development","issn_l":"0954-1748","issn":["0954-1748","1099-1328"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of International Development","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:uma:periwp:wp106","doi":null,"is_oa":false,"landing_page_url":"https://per.umass.edu/fileadmin/pdf/working_papers/working_papers_101-150/WP106.pdf","pdf_url":"https://per.umass.edu/fileadmin/pdf/working_papers/working_papers_101-150/WP106.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:ums:papers:2005-14","doi":null,"is_oa":false,"landing_page_url":"http://www.umass.edu/economics/publications/2005-14.pdf","pdf_url":"http://www.umass.edu/economics/publications/2005-14.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:scholarworks.umass.edu:econ_workingpaper-1054","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.umass.edu/econ_workingpaper/50","pdf_url":"https://scholarworks.umass.edu/bitstreams/aad53eed-3842-478c-a48b-64d1ccc31e6f/download","source":{"id":"https://openalex.org/S4306402057","display_name":"Scholarworks (University of Massachusetts Amherst)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I24603500","host_organization_name":"University of Massachusetts Amherst","host_organization_lineage":["https://openalex.org/I24603500"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics Department Working Paper Series","raw_type":"text"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.638.9897","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.638.9897","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_101-150/WP106.pdf","raw_type":"text"},{"id":"mag:3121205386","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:uma:periwp:wp106","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:wly:jintdv:v:20:y:2008:i:7:p:869-887","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1002/jid.1465","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:econstor.eu:10419/105756","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10419/105756","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:workingPaper"},{"id":"pmh:oai:scholarworks.umass.edu:20.500.14394/22362","doi":null,"is_oa":false,"landing_page_url":"https://hdl.handle.net/20.500.14394/22362","pdf_url":null,"source":{"id":"https://openalex.org/S4306402057","display_name":"Scholarworks (University of Massachusetts Amherst)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I24603500","host_organization_name":"University of Massachusetts Amherst","host_organization_lineage":["https://openalex.org/I24603500"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"published","raw_type":"Working Paper"},{"id":"pmh:oai:works.bepress.com:leonce_ndikumana-1007","doi":null,"is_oa":false,"landing_page_url":"https://works.bepress.com/leonce_ndikumana/8","pdf_url":null,"source":{"id":"https://openalex.org/S4306402240","display_name":"ScholarWorks@UMassAmherst (University of Massachusetts Amherst)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I24603500","host_organization_name":"University of Massachusetts Amherst","host_organization_lineage":["https://openalex.org/I24603500"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"L\u00c3\u00a9once Ndikumana","raw_type":"text"},{"id":"doi:10.7275/1069123","doi":"https://doi.org/10.7275/1069123","is_oa":true,"landing_page_url":"https://doi.org/10.7275/1069123","pdf_url":null,"source":{"id":"https://openalex.org/S7407053130","display_name":"University of Massachusetts (UMass) Amherst","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article-journal"}],"best_oa_location":{"id":"pmh:oai:scholarworks.umass.edu:econ_workingpaper-1054","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.umass.edu/econ_workingpaper/50","pdf_url":"https://scholarworks.umass.edu/bitstreams/aad53eed-3842-478c-a48b-64d1ccc31e6f/download","source":{"id":"https://openalex.org/S4306402057","display_name":"Scholarworks (University of Massachusetts Amherst)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I24603500","host_organization_name":"University of Massachusetts Amherst","host_organization_lineage":["https://openalex.org/I24603500"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics Department Working Paper Series","raw_type":"text"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.9211000204086304,"display_name":"Decent work and economic growth"},{"id":"https://metadata.un.org/sdg/9","score":0.8970999717712402,"display_name":"Industry, innovation and infrastructure"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2118180786.pdf","grobid_xml":"https://content.openalex.org/works/W2118180786.grobid-xml"},"referenced_works_count":38,"referenced_works":["https://openalex.org/W407181292","https://openalex.org/W1561324832","https://openalex.org/W1578148588","https://openalex.org/W1589423175","https://openalex.org/W1606377008","https://openalex.org/W1608604882","https://openalex.org/W1964826652","https://openalex.org/W1973551013","https://openalex.org/W1979057764","https://openalex.org/W1981749304","https://openalex.org/W2010634457","https://openalex.org/W2025610165","https://openalex.org/W2029516252","https://openalex.org/W2041585339","https://openalex.org/W2043410305","https://openalex.org/W2049640565","https://openalex.org/W2052367674","https://openalex.org/W2068444391","https://openalex.org/W2069384580","https://openalex.org/W2073552595","https://openalex.org/W2084318685","https://openalex.org/W2092772036","https://openalex.org/W2105052662","https://openalex.org/W2105505834","https://openalex.org/W2109020527","https://openalex.org/W2110168919","https://openalex.org/W2111413419","https://openalex.org/W2112950496","https://openalex.org/W2136087370","https://openalex.org/W2152422958","https://openalex.org/W2163111126","https://openalex.org/W2258082685","https://openalex.org/W2271827223","https://openalex.org/W2764940861","https://openalex.org/W2924744787","https://openalex.org/W3124291829","https://openalex.org/W4249740779","https://openalex.org/W4319588164"],"related_works":["https://openalex.org/W4396729378","https://openalex.org/W2604988078","https://openalex.org/W2188117671","https://openalex.org/W3093700743","https://openalex.org/W4205772494","https://openalex.org/W2198587700","https://openalex.org/W2067360183","https://openalex.org/W88895228","https://openalex.org/W1524287583","https://openalex.org/W770689462"],"abstract_inverted_index":{"Abstract":[0],"This":[1],"study":[2,97],"explores":[3],"the":[4,20,24,29,34,65,70],"determinants":[5],"of":[6,19,68],"investment":[7,55],"using":[8],"both":[9],"aggregated":[10],"industry\u2010level":[11],"data":[12,15],"and":[13,53,85],"disaggretated":[14],"on":[16],"27":[17],"sub\u2010sectors":[18],"manufacturing":[21],"sector":[22],"for":[23],"period":[25],"1970\u20132001.":[26],"According":[27],"to":[28,43,74,90,104,109],"results":[30],"in":[31,61,95],"this":[32,96],"study,":[33],"government":[35],"has":[36],"potentially":[37],"powerful":[38],"means":[39],"at":[40],"its":[41],"disposal":[42],"stimulate":[44],"private":[45,62],"investment.":[46,63,111],"In":[47],"particular,":[48],"a":[49],"domestic":[50,83],"demand":[51,84],"stimulus":[52],"public":[54],"expansion":[56],"will":[57],"produce":[58],"large":[59],"gains":[60],"While":[64],"direct":[66],"effects":[67,79],"lowering":[69],"interest":[71],"rate":[72,107],"appear":[73],"be":[75,91],"quantitatively":[76],"small,":[77],"indirect":[78],"operating":[80],"notably":[81],"through":[82],"cheaper":[86],"credit":[87],"are":[88],"likely":[89],"large.":[92],"The":[93],"evidence":[94],"also":[98],"indicates":[99],"that":[100],"it":[101],"is":[102],"important":[103],"minimise":[105],"exchange":[106],"instability":[108],"encourage":[110],"Copyright":[112],"\u00a9":[113],"2008":[114],"John":[115],"Wiley":[116],"&":[117],"Sons,":[118],"Ltd.":[119]},"counts_by_year":[{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":2},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-12T12:28:57.059296","created_date":"2016-06-24T00:00:00"}
