IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Private Investment, Freedom, Openness, and Economic Growth: Evidence from Recent Cross-Country Data

Listed author(s):
  • Ram , Rati


    (Economics Department, Illinois State University)

Registered author(s):

    Using a reasonable growth model and a good dataset that covers a fairly wide intercountry cross-section, this study investigates the role of several factors in economic growth, with a particular focus on the impact of private investment and economic freedom. Seven main points are noted. First, as might be expected, aggregate investment has a sizable and highly significant positive effect on growth. Second, there is no indication that increased private investment helps growth; on the contrary, in ali cases, the private-investment parameter is negative. Third, there is little evidence that economic freedom enhances growth, and the freedom-parameter appears fragile. Fourth, the role of openness seems minor. Fifth, the education-parameter has a positive sign in all cases, and is statistically significant in most regressions. Sixth, the parametric structures for the fuil sample and the LDC subsample are broadly similar. Seventh, the pattern of estimates seems robust to the use of different measures of economic freedom and also to several specificational alternatives and some methodological refinements. In particular, White’s (1980) heteroskedasticity-consistent standard errors yield the same broad pattern as the ordinary (OLS) standard errors.

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Article provided by Camera di Commercio Industria Artigianato Agricoltura di Genova in its journal Economia Internazionale / International Economics.

    Volume (Year): 53 (2000)
    Issue (Month): 3 ()
    Pages: 371-388

    in new window

    Handle: RePEc:ris:ecoint:0242
    Contact details of provider: Postal:
    Via Garibaldi 4, 16124 Genova, Italy

    Phone: +39 010 27041
    Fax: +39 010 2704222
    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ris:ecoint:0242. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Procopio)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.