Investment Cycles in Capitalist Economies - A Kaleckian Behavioural Contribution (Hardcover)

This major book extends Michal Kalecki's investment cycle analysis into an integrated dynamic model of how levels of confidence experienced by entrepreneurs affect their decisions to invest. The long-term, expensive and uncertain nature of investment projects inhibits decision makers' confidence, making it susceptible to a wide range of factors. Incorporating behavioural and evolutionary analysis into a Kaleckian investment model, Jerry Courvisanos develops the concept of susceptibility which provides the foundation for an improved understanding of the empirically observed cyclical instability of capital accumulation. Historically based empirical patterns of cyclical manufacturing investment in capitalist economies are identified and related to how the nature of susceptibility alters over time. These alterations are shown to create different investment cycle patterns over evolving periods of economic development. Drawing on this susceptibility cycle model, Jerry Courvisanos shows how corporate and governmental strategic planners can better design policies to mitigate the instability that investment exhibits. The result could be to diminish the aggravating effect that investment instability has on business cycles and employment in capitalist economies.

General

Imprint:	Edward Elgar Publishing Ltd
Country of origin:	United Kingdom
Series:	New Directions in Modern Economics series
Release date:	December 1996
Authors:	Jerry Courvisanos
Dimensions:	216 x 138 x 26mm (L x W x T)
Format:	Hardcover
Pages:	288
ISBN-13:	978-1-85898-410-0
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Finance & accounting > Finance > Investment & securities > General Books > Money & Finance > Investment & securities > General Promotions
LSN:	1-85898-410-6
Barcode:	9781858984100

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