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Private Investment and Endogenous Growth; Evidence From Cameroon

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  • Dhaneshwar Ghura
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    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.

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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 97/165.

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    Length: 31
    Date of creation: 01 Dec 1997
    Handle: RePEc:imf:imfwpa:97/165
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    1. Edwards, Sebastian, 1988. "Real and monetary determinants of real exchange rate behavior: Theory and evidence from developing countries," Journal of Development Economics, Elsevier, vol. 29(3), pages 311-341, November.
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