Hostname: page-component-586b7cd67f-gb8f7 Total loading time: 0 Render date: 2024-12-02T23:30:03.819Z Has data issue: false hasContentIssue false
  • English
  • Français

The opportunities for capital investment

Published online by Cambridge University Press:  20 April 2012

C. G. Lewin
Get access Rights & Permissions [Opens in a new window]

Extract

This paper explores the opportunities which may exist for increasing the extent to which the United Kingdom invests in capital assets, with the aim of increasing national economic growth. A number of factors thought to be relevant are examined and some apparent defects in companies' existing investment procedures are highlighted. It is suggested that a possible national strategy for the next few years might be an attempt to stimulate increased labour productivity and increased investment simultaneously. The paper tries to give some indication of the results which might be achieved if such a policy were successful. (It is assumed that a higher rate of economic growth would be desirable, and the paper does not enter into a discussion of whether non-quantifiable factors, e.g. the quality of life, are more important. This does not mean that such factors can be ignored in practice, however, and they may—quite rightly—restrain what could otherwise be done.)

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 108 , Issue 1 , June 1981 , pp. 19 - 74
Copyright
Copyright © Institute and Faculty of Actuaries 1981

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Brown, C. J. F. (August 1980). Industrial Policy and Economic Planning in Japan and France. National Institute Economic Review.CrossRefGoogle Scholar
Brown, C. J. F. & Sheriff, T.D. (1978). De-industrialisation: a background paper. N.I.E.S.R. (2).Google Scholar
Carrington, J. C. & Edwards, G. T. (1979). Financing Industrial Investment. Macmillan Press.CrossRefGoogle Scholar
Paul, Chambers Sir (1966). Problems in forecasting in the Chemical Industry. Alfred Watson Memorial Lecture, Institute of Actuaries. (J.I.A. 92, 117)Google Scholar
Chatterton, J. A. & Leonard, R. (October 1979). The British Disease–a cure that worked. Chartered Mechanical Engineer. The same authors have published a book, How to Avoid the British Disease (Northgate Publishing) which was reviewed at length by the Guardian, 5 August, 1980.Google Scholar
C.B.I. (January 1980). Jobs—facing the future (A C.B.I. Staff discussion document). Confederation of British Industry, London.Google Scholar
Forsyth, P. J. & Kay, J. A. (1980). The Economic Implications of North Sea Oil Revenues. Fiscal Studies.CrossRefGoogle Scholar
Freeman, C. (1978). Technical Innovation and British Trade Performance. N.I.E.S.R. (2).Google Scholar
Hartley, C. (1978). Constraints or innovation: why the ‘experts’ get it wrong. Financial Times, 8 September.Google Scholar
Hawkins, C. J. & Pearce, D. W. (1971). Capital Investment Appraisal. Macmillan Studies in Economics, London and Basingstoke.CrossRefGoogle Scholar
Jones, D. T. (August 1976). Output, Employment and Labour Productivity in Europe since 1955. National Institute Economic Review.CrossRefGoogle Scholar
Kravis, I. B. et al. (1978). Real G.D.P. per capita for more than one hundred countries. The Economic Journal.Google Scholar
Lewin, C. G. (1967). The Appraisal of Capital Projects. Journal of the Institute of Actuaries Students Society, 18, 150.Google Scholar
Morgan, V. (1978). Insurance and Pension Funds and the Supply and Demand for Ordinary Shares. Economists Advisory Group Ltd. (unpublished).Google Scholar
Morgan, V. (1978). The Funding of Pension Schemes with Special Reference to the Nationalised Industries. Economists Advisory Group Ltd. (unpublished).Google Scholar
N.E.D.C. (79/42) (1979). Profitability and Investment. Memorandum to the National Economic Development Council by its Director General, 25 July.Google Scholar
N.E.D.O. (1975). Finance for Investment. National Economic Development Office.Google Scholar
N.I.E.S.R. (2) (1979). National Institute of Economic and Social Research Economic Policy Papers (2), entitled ‘De-industrialization” (ed. F. Blackaby). This consists of papers submitted to a conference in 1978.Google Scholar
Ray, G. F. (1978). Comment on Freeman. N.I.E.S.R. (2).Google Scholar
Savage, D. (February 1978). The Channels of Monetary Influence: a survey of the empirical evidence. National Institute Economic Review.CrossRefGoogle Scholar
Stout, D. K. (1978). De-industrialisation and Industrial Policy. N.I.E.S.R. (2).Google Scholar
Thatcher, A. R. (1978) Labour Supply and Employment Trends. N.I.E.S.R. (2).Google Scholar
Treasury Working Paper No. 9 (January 1979). The Test Discount Rate and the Required Rate of Return on Investment. (Government Economic Service Working Paper No. 22).Google Scholar
Wilson Committee (1980). Report of the committee to review the functioning of financial institutions (Chairman: Sir Harold Wilson). H.M.S.O., Cmnd. 7937.Google Scholar