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Private Investment and Economic Growth in Developing Countries

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  • International Monetary Fund

Abstract

Despite the growing support for market-oriented strategies, and for a greater role of private investment, empirical growth models for developing countries typically make no distinction between the private and public components of investment. This paper sheds some light on this important issue by formulating a simple growth model that separates the effects of public sector and private sector investment. This model is estimated for a cross - section sample of 24 developing countries, and the results support the notion that private investment has a larger direct effect on growth than does public investment.

Suggested Citation

  • International Monetary Fund, 1989. "Private Investment and Economic Growth in Developing Countries," IMF Working Papers 1989/060, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1989/060
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    Cited by:

    1. Manamba EPAPHRA & John MASSAWE, 2016. "Investment and Economic Growth: An Empirical Analysis for Tanzania," Turkish Economic Review, KSP Journals, vol. 3(4), pages 578-609, December.
    2. Garikai Makuyana & Nicholas M. Odhiambo, 2019. "Public and private investment and economic growth in Malawi: an ARDL-bounds testing approach," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 32(1), pages 673-689, January.
    3. MAKUYANA, Garikai & ODHIAMBO, Nicholas M., 2018. "Public and Private Investment and Economic Growth in Zambia: A Dynamic Approach," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 71(4), pages 503-526.
    4. Shapouri, Shahla & Missiaen, Margaret, 1991. "Economic Performance and Policy Adjustment: The Experience of Zimbabwe," Staff Reports 278546, United States Department of Agriculture, Economic Research Service.

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