Publication:
Investment Under Risks and Uncertainty in Afghanistan

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dc.contributor.authorFarazi, Subika
dc.contributor.authorRostom, Ahmed
dc.contributor.authorSinha, Rishabh
dc.date.accessioned2018-05-16T21:06:34Z
dc.date.available2018-05-16T21:06:34Z
dc.date.issued2018-05
dc.description.abstractThis paper investigates the state of low investment in Afghanistan by studying how investment decisions interact with risks and uncertainty in the presence of underdeveloped financial markets. The analysis shows that investing firms experience a higher probability of being affected by events related to crime and corruption and spend more on security arrangements. Firms that participate in the formal financial sector are also subject to higher levels of risk and uncertainty. As more productive firms face higher risks and uncertainty, a model of resource allocation with heterogeneous firms is used to quantify the economic loss from crime and corruption. The estimated aggregate output loss of 12 percent is significantly higher than the 7 percent loss observed in the absence of the resource allocation channel.en
dc.identifierhttp://documents.worldbank.org/curated/en/181341526388484842/Investment-under-risks-and-uncertainty-in-Afghanistan
dc.identifier.doi10.1596/1813-9450-8443
dc.identifier.urihttps://hdl.handle.net/10986/29849
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 8443
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectINVESTMENT
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT CLIMATE
dc.subjectRISKS
dc.subjectUNCERTAINTY
dc.subjectFINANCIAL FRICTION
dc.subjectFINANCIAL MARKETS
dc.subjectCRIME
dc.subjectCORRUPTION
dc.subjectFRAGILE STATES
dc.subjectSECURITY
dc.subjectFIRM BEHAVIOR
dc.titleInvestment Under Risks and Uncertainty in Afghanistanen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleInvestment under Risks and Uncertainty in Afghanistan
okr.date.disclosure2018-05-15
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/181341526388484842/Investment-under-risks-and-uncertainty-in-Afghanistan
okr.guid181341526388484842
okr.identifier.doi10.1596/1813-9450-8443
okr.identifier.externaldocumentum090224b085a9de23_1_0
okr.identifier.internaldocumentum29894114
okr.identifier.reportWPS8443
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/181341526388484842/pdf/WPS8443.pdfen
okr.region.administrativeSouth Asia
okr.region.countryAfghanistan
okr.statistics.combined2029
okr.statistics.dr181341526388484842
okr.statistics.drstats1471
okr.topicConflict and Development::Conflict and Fragile States
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicPrivate Sector Development::Business Environment
okr.topicPrivate Sector Development::Corporate Governance and Corruption
okr.topicPrivate Sector Development::Private Sector Economics
okr.topicSocial Development::Crime and Society
okr.unitFinance, Competitiveness and Innovation Global Practice; and the Development Research Group
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relation.isAuthorOfPublication.latestForDiscoveryd8650a79-a017-5cd5-bb70-36ce89fe4f1d
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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