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Private Investment and Endogenous Growth: Evidence From Cameroon

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  • Mr. Dhaneshwar Ghura

Abstract

This paper investigates empirically the factors that have influenced economic growth in Cameroon during 1963-96. The results, which support the endogenous-growth-type model, indicate that (1) the aggregate production function exhibits increasing returns to scale; (2) the impact of increases in private investment on growth is large, significant, and robust; (3) increases in government investment have a positive impact on growth; (4) human capital development plays an important role in output expansion; (5) positive externalities are generated by physical and human capital accumulation; and (6) growth is boosted by economic policies that foster external competitiveness and a prudent fiscal stance.

Suggested Citation

  • Mr. Dhaneshwar Ghura, 1997. "Private Investment and Endogenous Growth: Evidence From Cameroon," IMF Working Papers 1997/165, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1997/165
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