Relative effects of public versus private investment spending on economic efficiency and growth in developing countries
This study investigates the initial and long-run effects of public investment expenditure on economic growth, especially as compared with private investment. Annual data over 1970-90 for 48 developing countries form the basis of the empirical analysis. Our findings suggest that infrastructural public investment facilitates private investment, especially in the long-run. It also promotes economic growth and efficiency whereas non-infrastructural investment does the reverse. Also, long-term effects of public investment tend to be much more positive than short-term ones on growth; efficiency and private investments
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Volume (Year): 29 (1997)
Issue (Month): 10 ()
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- David, Paul A & Scadding, John L, 1974. "Private Savings: Ultrarationality, Aggregation, and "Denison's Law."," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 225-49, Part I, M.
- Darity, William, Jr, 1987. "Debt, Finance, Production and Trade in a North-South Model: The Surplus Approach," Cambridge Journal of Economics, Oxford University Press, vol. 11(3), pages 211-27, September.
- Reinhart, Carmen & Khan, Mohsin, 1989.
"Private investment and economic growth in developing countries,"
13655, University Library of Munich, Germany.
- Khan, Mohsin S. & Reinhart, Carmen M., 1990. "Private investment and economic growth in developing countries," World Development, Elsevier, vol. 18(1), pages 19-27, January.
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