Private Investment and Endogenous Growth
Author | : Mr.Dhaneshwar Ghura |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 1997-12-01 |
ISBN-10 | : 9781451980004 |
ISBN-13 | : 1451980000 |
Rating | : 4/5 (000 Downloads) |
Download or read book Private Investment and Endogenous Growth written by Mr.Dhaneshwar Ghura and published by International Monetary Fund. This book was released on 1997-12-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates empirically the factors that have influenced economic growth in Cameroon during 1963-96. The results, which support the endogenous-growth-type model, indicate that (1) the aggregate production function exhibits increasing returns to scale; (2) the impact of increases in private investment on growth is large, significant, and robust; (3) increases in government investment have a positive impact on growth; (4) human capital development plays an important role in output expansion; (5) positive externalities are generated by physical and human capital accumulation; and (6) growth is boosted by economic policies that foster external competitiveness and a prudent fiscal stance.