Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/243378 
Autor:innen: 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
WIDER Working Paper No. 2021/52
Verlag: 
The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki
Zusammenfassung: 
This paper uses firm-level data and a news-based measure of economic policy uncertainty to provide empirical evidence that economic policy uncertainty has a negative impact on firm-level investment in South Africa. Firms' investment decisions in response to uncertainty reflect firms' heterogeneity. Medium-sized firms and, to a different extent, small firms reduce their investment by much more than large firms in response to increased policy uncertainty. The relationship between firms categorized by size and the degree of financial constraints they face implies that financially constrained firms are more sensitive to uncertainty than large, unconstrained firms.
Schlagwörter: 
economic policy uncertainty
firm-level investment
South Africa
firm heterogeneity
JEL: 
E22
E4
E5
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-9256-990-7
Dokumentart: 
Working Paper

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