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Capital public et croissance : une étude en économétrie de panel

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  • Sébastien Dessus
  • Rémy Herrera

Abstract

[eng] Public capital and growth: an econometric study on a panel data. . This paper analyses the links between growth and public capital for a sample of 28 developing countries over eleven years (1981-1991). We estimate a simultaneous equations model to explain the GDP, as well as public and private capital formation. Accumulating public, private and human capital enhances growth. Nevertheless, public capital formation has produced a crowding-out effect, since the budget constraint was differentiated between public and private sectors. Our results suggest that the majority of the sample countries tended rather to diverge from the optimal allocation of capital — in terms of growth — between public and private sectors. [fre] Capital public et croissance. Une étude en econometric de panel. . Cette étude analyse les liens entre la croissance et le capital public à l'aide d'un modèle économétrique d'équations simultanées, estimé sur un panel de vingt-huit pays en développement sur onze ans (1981-1991). Ce modèle de croissance décrit les déterminants du PIB et des stocks de capital public et privé. L'accumulation de capital public, mais aussi de capital humain et de capital privé, favorise la croissance. Cependant, la formation de capital public a généré un effet d'éviction, au détriment de celle de capital privé, en raison de contraintes budgétaires différenciées. Nos résultats suggèrent qu'un nombre important des pays de l'échantillon s'est éloigné d'une structure optimale pour la croissance de partage du capital disponible entre les secteurs public et privé.

Suggested Citation

  • Sébastien Dessus & Rémy Herrera, 1999. "Capital public et croissance : une étude en économétrie de panel," Revue Économique, Programme National Persée, vol. 50(1), pages 113-126.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1999_num_50_1_410065
    DOI: 10.3406/reco.1999.410065
    Note: DOI:10.3406/reco.1999.410065
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    Cited by:

    1. Issoufou SOUMAILA, 2015. "Escaping the Dutch Disease: The Role of Public Investment in Niger," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(2), pages 333-339, February.

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