Interpreting the Investment Intentions Data

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Abstract
The formidable problems of estimating stable econometric relationships explaining capital expenditure which are usable for forecasting purposes are well known. These are attested by the fact that despite the very large number of regression studies in the field no clear consensus has yet emerged among economists as to the determinants of investment behaviour. Given the difficulties of econometric model-building it is hardly surprising that in practice considerable reliance should be placed on the concrete evidence about future investment plans afforded by business surveys when making short-term forecasts of investment.

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