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Fiscal Policy and Private Investment in Developing Countries: Recent Evidence on Key Selected Issues

In: Fiscal Issues in Adjustment in Developing Countries

Author

Listed:
  • Ajay Chhibber

    (The World Bank)

  • Mansoor Dailami

    (The World Bank)

Abstract

The importance of private domestic investment to the growth and development strategy of developing countries in the transition to the 1990s is emerging with particular clarity from the convergence of two strands of empirical and policy concerns. One is the evidence that in almost all these countries, over the past decade, domestic investment has borne the brunt of the aggregate demand contraction associated with the process of external adjustment. (Figure a and Table 1) The second, which derives partly from the first, is the growing agreement on the desirability of increasing the private sector’s share in total capital formation through increased reliance on market forces and incentives. Accordingly, it is now widely accepted that expansion of private investment should be the main impetus for economic growth, allowing public investment resources gradually to focus on social areas, including alleviation of poverty and the upgrading of social capital and services.

Suggested Citation

  • Ajay Chhibber & Mansoor Dailami, 1993. "Fiscal Policy and Private Investment in Developing Countries: Recent Evidence on Key Selected Issues," Palgrave Macmillan Books, in: Riccardo Faini & Jaime Melo (ed.), Fiscal Issues in Adjustment in Developing Countries, pages 121-150, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22790-7_7
    DOI: 10.1007/978-1-349-22790-7_7
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    1. is not listed on IDEAS
    2. Matin, Kazi M., 1992. "Fiscal adjustment and the real exchange rate : the case of Bangladesh," Policy Research Working Paper Series 850, The World Bank.
    3. Pillai N., Vijayamohanan, 2008. "Infrastructure, Growth And Human Development In Kerala," MPRA Paper 7017, University Library of Munich, Germany.
    4. Matin, Kazi M. & Wasow, Bernard, 1992. "Adjustment and private investment in Kenya," Policy Research Working Paper Series 878, The World Bank.
    5. Afia Malik, 2013. "Private Investment And Fiscal Policy In Pakistan," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 38(1), pages 83-109, March.
    6. Ghassan, Hassan B. & Raiss, NourrEddine & ElMoudden, Abdesalam, 2008. "Test de l’Effet de la Fiscalité Foncière sur l’Investissement Touristique [Testing the Effect of the Land Tax on Tourism Investment]," MPRA Paper 56384, University Library of Munich, Germany, revised 17 Sep 2008.
    7. Jimenez, Emmanuel & DEC, 1994. "Human and physical infrastructure : public investment and pricing policies in developing countries," Policy Research Working Paper Series 1281, The World Bank.
    8. Schweickert, Rainer & Wiebelt, Manfred, 1996. "Finanzpolitik im Aufholprozeß: Lehren aus Europa, Lateinamerika und Asien," Open Access Publications from Kiel Institute for the World Economy 1689, Kiel Institute for the World Economy.
    9. Marie-Ange VEGANZONES-VAROUDAKIS, 2000. "Infrastructures, investissement et croissance : un bilan de dix années de recherches," Working Papers 200007, CERDI.
    10. Antzys, S. & Lavlinskii, S. & Panin, A. & Pljasunov, A., 2020. "Bilevel models of investment and tax policy formation in the resource region," Journal of the New Economic Association, New Economic Association, vol. 48(4), pages 41-62.
    11. Riccardo Faini & Jaime Melo, 1993. "Fiscal Issues in Adjustment: An Introduction," Palgrave Macmillan Books, in: Riccardo Faini & Jaime Melo (ed.), Fiscal Issues in Adjustment in Developing Countries, pages 1-19, Palgrave Macmillan.

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