Global uncertainty and Global Economic Policy Uncertainty: Different implications for firm investment
ORCID Identifiers
Document Type
Article
Source of Publication
Economics Letters
Publication Date
3-1-2021
Abstract
Global Economic Policy Uncertainty (EPU) and non-EPU global uncertainty measures exhibit heterogenous behavior, especially in 2010s. Using firm-level data from 36 countries, we estimate the effect of global uncertainty on corporate investment in 1997–2016. Eleven global uncertainty measures, including global EPU, are employed to encompass macro, micro, and higher-order dimensions of uncertainty. We find different effect of EPU and non-EPU global uncertainty measures on investment. Only EPU measures negatively affect investment, while non-EPU measures have positive effects, which suggests a possible first-order implication of EPU.
DOI Link
ISSN
Publisher
Elsevier
Volume
200
Disciplines
Business
Keywords
Global uncertainty, Economic Policy Uncertainty, Investment
Scopus ID
Recommended Citation
Suh, Hyunduk and Yang, Jin Young, "Global uncertainty and Global Economic Policy Uncertainty: Different implications for firm investment" (2021). All Works. 1788.
https://zuscholars.zu.ac.ae/works/1788
Indexed in Scopus
yes
Open Access
no