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Private investment and economic growth in developing countries

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  • Reinhart, Carmen
  • Khan, Mohsin

Abstract

Despite the growing support for market-oriented strategies, and for a greater role of private investment, empirical growth models for developing countries typically make no distinction between the private and public components af investment. This paper sheds some light on this important issue by formulating a simple growth model that separates the effects of public sector and private sector investment. This model is estimated for a cross-section sample of 24 developing countries, and the results support the notion that private investment has a larger direct effect on growth than does public investment.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13655.

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Date of creation: 26 Jul 1989
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Publication status: Published in World Development 1.18(1990): pp. 243-258
Handle: RePEc:pra:mprapa:13655

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Keywords: growth investment public private productivity;

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References

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  1. Mario I. Blejer & Mohsin S. Khan, 1984. "Government Policy and Private Investment in Developing Countries (Politique des pouvoirs publics et investissement privé dans les pays en développement) (Política estatal e inversión priva," IMF Staff Papers, Palgrave Macmillan, vol. 31(2), pages 379-403, June.
  2. Robinson, Sherman, 1971. "Sources of Growth in Less Developed Countries: A Cross-Section Study," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 85(3), pages 391-408, August.
  3. Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, Elsevier, vol. 5(2), pages 181-189, June.
  4. Ram, Rati, 1985. "Exports and Economic Growth: Some Additional Evidence," Economic Development and Cultural Change, University of Chicago Press, University of Chicago Press, vol. 33(2), pages 415-25, January.
  5. Tyler, William G., 1981. "Growth and export expansion in developing countries : Some empirical evidence," Journal of Development Economics, Elsevier, Elsevier, vol. 9(1), pages 121-130, August.
  6. Lal, Deepak & Rajapatirana, Sarath, 1987. "Foreign Trade Regimes and Economic Growth in Developing Countries," World Bank Research Observer, World Bank Group, World Bank Group, vol. 2(2), pages 189-217, July.
  7. Ichiro Otani & Delano Villanueva, 1989. "Theoretical Aspects of Growth in Developing Countries: External Debt Dynamics and the Role of Human Capital," IMF Staff Papers, Palgrave Macmillan, vol. 36(2), pages 307-342, June.
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