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Economic Security, Private Investment, and Growth in Developing Countries

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  • Helene Poirson Ward

Abstract

This paper provides empirical support for the view that enhanced economic security fosters private investment and growth in developing countries. An analysis for 53 developing countries suggests that most aspects of economic security have improved since the mid-1980s; that private investment is mostly influenced by the risk of expropriation, the degree of civil liberty, and the degree of independence of the bureaucracy; and that economic growth is affected by the risk of expropriation and political terrorism in the short run, and by corruption and contract repudiation in the long run.

Suggested Citation

  • Helene Poirson Ward, 1998. "Economic Security, Private Investment, and Growth in Developing Countries," IMF Working Papers 98/4, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:98/4
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    Cited by:

    1. Jac C Heckelman & Benjamin Powell, 2010. "Corruption and the Institutional Environment for Growth," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 52(3), pages 351-378, September.
    2. Justin Yifu Lin & CĂ©lestin Monga, 2012. "Solving the Mystery of African Governance," New Political Economy, Taylor & Francis Journals, vol. 17(5), pages 659-666, November.
    3. Teuea Toatu, 2002. "Unravelling the Pacific Paradox," International and Development Economics Working Papers idec02-2, International and Development Economics.
    4. Tuomas A. Peltonen & Ricardo M. Sousa & Isabel S. Vansteenkiste, 2011. "Fundamentals, Financial Factors, and the Dynamics of Investment in Emerging Markets," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 47(0), pages 88-105, May.
    5. Tuomas A. Peltonen & Ricardo M. Sousa & Isabel S. Vansteenkiste, 2009. "Asset prices, Credit and Investment in Emerging Markets," NIPE Working Papers 18/2009, NIPE - Universidade do Minho.
    6. Huang, Chiung-Ju, 2016. "Is corruption bad for economic growth? Evidence from Asia-Pacific countries," The North American Journal of Economics and Finance, Elsevier, vol. 35(C), pages 247-256.
    7. David Stasavage, 2000. "Private Investment and Political Uncertainty," STICERD - Development Economics Papers - From 2008 this series has been superseded by Economic Organisation and Public Policy Discussion Papers 25, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    8. Shiferaw, A., 2002. "Private investment and public policy in sub-Saharan Africa," ISS Working Papers - General Series 19100, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.

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