Explaining aggregate investment in Britain: the importance of Tobin's Q
Oulton, N.
(1978).
Explaining aggregate investment in Britain: the importance of Tobin's Q.
Economics Letters,
1(3), 253-257.
https://doi.org/10.1016/0165-1765(78)90034-4
(1978).
Explaining aggregate investment in Britain: the importance of Tobin's Q.
Economics Letters,
1(3), 253-257.
https://doi.org/10.1016/0165-1765(78)90034-4
This note reports on work done in testing Tobin's 'Q' theory of investment on British data. Investment by industrial and commercial companies over 1960-1977 was studied. Q was found to be both significant and important, outperforming other plausible variables.