Academic research on the determinants of investment has generally concluded that the key variable is growth (or expectations of growth), and that interest rates play at most a secondary role. One immediate implication of this, of course, is that monetary policy is unlikely to have a strong impact on investment.
投资决定要素的学术研究的总体结论是，关键变量是增长（或增长的预期），其次则是利率。当然，一个马上可以得到的推论是货币政策不可能对投资带来重大影响。