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Table Of Contents

CHAPTER 1: INTRODUCTION
1.1 Background to the Study
1.2 Statement of the Problem
1.3 Objective of the Study
1.4 Study Hypotheses
1.5 Significance of the Study
1.6 Scope
1.7 Organization of the Study
CHAPTER 2: LITERATURE REVIEW
2.1 Theoretical Literature Review
2.2 Empirical Literature Review
2.3 Implications of the Literature Review
CHAPTER 3: METHODOLOGY
3.1 Model Specification
3.2 The Determinants
3.3 Data Sources and Variable Choice
3.4 Estimation Issues
3.4.1 Unit Root Testing
3.4.2 Cointegration Tests
3.4.3 Parsimonious Reductions
3.4.4 Stability Testing
3.4.5 Residual Diagnostic Tests
CHAPTER 4: EMPIRICAL RESULTS
Table 4.1: Summary Statistics
4.1 Unit Roots Results
Table 4.2: Unit Roots Test Results
4.2 Cointegration Results
Table 4.3: Cointegration Test Results
4.3 The Long-Run Equilibrium
4.3.1 The Stability Test
Figure 4.1: Stability Test
4.4 The Short-Run Model
Table 4.4: The Over-Parameterized Estimation of the Error Correction Model
Table 4.5: The Parsimonious Model
4.5 Overall Results Interpretation
CHAPTER 5: CONCLUSIONS AND POLICY IMPLICATIONS
5.1 Conclusions
5.3 Limitations and Suggestions for Further Research
REFERENCES
P. 1
Private Investments in Kenya

Private Investments in Kenya

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Published by Kings Ori
Endogenous Variable: Private Investments
Exogenous Variables: public investment, foreign exchange reserves, real GDP growth rate, public savings, interest rates inflation, openness to international trade and external debt.
Methodology: unit root testing - Dickey-Fuller (1979) and Phillips-Perron (1988) techniques. The long run private investment equation is derived using the Johansen cointegration techniques (Johansen, 1988; Johansen and Juselius, 1990). An error correction model (Engle and Granger, 1987) is also run where Hendry’s general to specific approach is applied.
Endogenous Variable: Private Investments
Exogenous Variables: public investment, foreign exchange reserves, real GDP growth rate, public savings, interest rates inflation, openness to international trade and external debt.
Methodology: unit root testing - Dickey-Fuller (1979) and Phillips-Perron (1988) techniques. The long run private investment equation is derived using the Johansen cointegration techniques (Johansen, 1988; Johansen and Juselius, 1990). An error correction model (Engle and Granger, 1987) is also run where Hendry’s general to specific approach is applied.

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Published by: Kings Ori on Mar 27, 2008
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