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Financial Policies for Regularizing Business Investment

  • Economics


Financial Policies For Regularizing Business Investment This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Regularization of Business Investment Volume Author/Editor: Universities-National Bureau Volume Publisher: Princeton University Press/NBER Volume ISBN: 0-87014-195-3 Volume URL: Publication Date: 1954 Chapter Title: Financial Policies for Regularizing Business Investment Chapter Author: Neil Jacoby, J. Fred Weston Chapter URL: Chapter pages in book: (p. 369 - 450) FINANCIAL POLICIES FOR REGULARIZING BUSINESS INVESTMENT1 NEIL H. JACOBY AND J. FRED 'WESTON UNIVERSITY OF CALIFORNIA Tins ESSAY deals with two related issues: How and to what extent are business investment decisions influenced by the supply of funds? How may the terms of supply of funds to businesses and business uses of funds be altered in the interest of greater regularity of investment in the future? Other papers presented at this conference examine the past behavior of business investment, the potential gains from its regu- larization, and the practicability of achieving it in particular areas. The objectives of this paper are to study the ways in which finance impedes progress toward the goal, and how financial policies—both public and private—may be altered in the direction of removing those impediments. In making this study, we assume that a more regular flow of business investment is both desirable and feasible in the American economy, an assumption that is examined in detail by other papers. The analysis has been organized into four principal parts. First, economic theories and empirical studies dealing with the relationships between the supply of funds and the level of business investment are critically reviewed. Increasingly, economists have recognized that flows of money are, in fact, stubborn barriers to the smooth operation of economic processes

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