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The Impact of Public Investment on Economic Growth in Pakistan

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Author Info
Ejaz Ghani (Pakistan Institute of Development Economics, Islamabad.)
Musleh-Ud Din (Pakistan Institute of Development Economics, Islamabad.)

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Abstract

This paper explores the role of public investment in the process of economic growth, in the context of Pakistan’s economy, using the vector autoregressive approach (VAR). Based on theoretical considerations, the model also includes private investment and public consumption besides public investment. The results show that growth is largely driven by private investment and that no strong inference can be drawn from the effects of public investment and public consumption on economic growth.

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File URL: http://www.pide.org.pk/pdf/PDR/2006/Volume1/87-98.pdf
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Publisher Info
Article provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.

Volume (Year): 45 (2006)
Issue (Month): 1 ()
Pages: 87-98
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Handle: RePEc:pid:journl:v:45:y:2006:i:1:p:87-98

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Related research
Keywords: Public Investment; Economic Growth;

Find related papers by JEL classification:
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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  16. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May. [Downloadable!] (restricted)
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  17. Johansen, Soren, 1992. "Determination of Cointegration Rank in the Presence of a Linear Trend," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 383-97, August.
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  18. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. [Downloadable!] (restricted)
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