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Growth, private investment and reforms : A comparative perspective

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  • Ghazouani KAMEL

    (Hight trade school of Tunis, Manouba University)

Abstract

In this paper we empirically analyse the linkages among growth, investment and reforms in the South East Asian countries, in the North Africa and in the non CFA Sub-Saharan Africa economies over 1970-89 to 2003. These regions differ considerably among them selves as well as with regard to the rest of the world, in terms of resources endowment, structure of production , and also in terms of economic reforms , physical infrastructure, and human capital. Our empirical analysis has clearly revealed the importance and the complementarities between macroeconomic reforms, physical infrastructure, human capital and structural reforms for the growth prospects of the economies. These factors have shown a strong effect on growth and have contributed greatly to the growth process for north Africa countries and the non CFA sub Sahara African countries. In north Africa economies and in the Sub Sahara African countries, the lack of macroeconomic reforms, the deficiencies of the physical infrastructure and the human capital explain, although at differing degrees , well the deficit in economic growth. This has been particularly the case of road networks, electronic equipments, sanitary conditions and schooling. The model simulation shows that an improvement of secondary schooling and physical infrastructure, similar to South East Asia, would have stimulated North Africa economic growth by respectively 0.61percent and 0.17 percent against only 1.23 percent and 0.39 percent for non CFA Sub Saharan Africa

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Bibliographic Info

Paper provided by EconWPA in its series GE, Growth, Math methods with number 0507012.

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Length: 21 pages
Date of creation: 22 Jul 2005
Date of revision:
Handle: RePEc:wpa:wuwpge:0507012

Note: Type of Document - pdf; pages: 21. No comments
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Web page: http://128.118.178.162

Related research

Keywords: Growth ; reforms; Human capital ; Structural reforms; macroeconomic stability; PCA; investment; Panel;

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  1. Nelson, Richard R & Pack, Howard, 1999. "The Asian Miracle and Modern Growth Theory," Economic Journal, Royal Economic Society, vol. 109(457), pages 416-36, July.
  2. Deininger, Klaus & Olinto, Pedro, 2000. "Asset distribution, inequality, and growth," Policy Research Working Paper Series 2375, The World Bank.
  3. Dani Rodrik, 1998. "Trade Policy and Economic Performance in Sub-Saharan Africa," NBER Working Papers 6562, National Bureau of Economic Research, Inc.
  4. David Dollar & Craig Burnside, 2000. "Aid, Policies, and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 847-868, September.
  5. Dollar, David & Kraay, Aart, 2001. "Trade, growth, and poverty," Policy Research Working Paper Series 2615, The World Bank.
  6. David M. Gould & Roy J. Ruffin, 1993. "What determines economic growth?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Apr, pages 25-40.
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