{
  "title": "Private Investment and Endogenous Growth: Evidence From Cameroon",
  "publication": "IMF Working Papers, December 1, 1997",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/private-investment-and-endogenous-growth-evidence-from-cameroon-2439",
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  "summary": "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 priva",
  "sections": [
    {
      "heading": "Major findings",
      "content": "- The analysis covers economic growth in Cameroon during 1963-96.\n- The empirical results support the endogenous-growth-type model.\n- The aggregate production function exhibits increasing returns to scale.\n- The impact of increases in private investment on growth is large, significant, and robust.\n- Increases in government investment have a positive impact on growth.\n- Human capital development plays an important role in output expansion.\n- Physical and human capital accumulation generate positive externalities.\n- Growth is boosted by economic policies that foster external competitiveness and a prudent fiscal stance."
    },
    {
      "heading": "Policy-relevant implications",
      "content": "- Strengthening private investment is central to sustaining higher growth, given its large, significant, and robust impact.\n- Sustained public investment can complement private investment, as government investment has a positive impact on growth.\n- Policies that promote human capital development are important for output expansion and for generating positive externalities.\n- Maintaining policies that enhance external competitiveness and a prudent fiscal stance supports growth."
    },
    {
      "heading": "Methodology and scope",
      "content": "- Empirical investigation of factors influencing economic growth in Cameroon over the period 1963-96.\n- The study tests implications consistent with endogenous growth frameworks, emphasizing returns to scale, investment effects, human capital, and externalities.\n\n---\n\n Content in this bundle\n\n- Private Investment and Endogenous Growth: Evidence From Cameroon - WP/97/165\n  - Private Investment and Endogenous Growth: Evidence From Cameroon - WP/97/165 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Private Investment and Endogenous Growth: Evidence From Cameroon - WP/97/165 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/private-investment-and-endogenous-growth-evidence-from-cameroon-2439"
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    "Authors: Dhaneshwar Ghura",
    "Published: December 1, 1997",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451980004.001",
    "The analysis covers economic growth in Cameroon during 1963-96.",
    "The empirical results support the endogenous-growth-type model.",
    "The aggregate production function exhibits increasing returns to scale.",
    "The impact of increases in private investment on growth is large, significant, and robust.",
    "Increases in government investment have a positive impact on growth.",
    "Human capital development plays an important role in output expansion.",
    "Physical and human capital accumulation generate positive externalities.",
    "Growth is boosted by economic policies that foster external competitiveness and a prudent fiscal stance.",
    "Strengthening private investment is central to sustaining higher growth, given its large, significant, and robust impact.",
    "Sustained public investment can complement private investment, as government investment has a positive impact on growth.",
    "Policies that promote human capital development are important for output expansion and for generating positive externalities.",
    "Maintaining policies that enhance external competitiveness and a prudent fiscal stance supports growth.",
    "Empirical investigation of factors influencing economic growth in Cameroon over the period 1963-96.",
    "The study tests implications consistent with endogenous growth frameworks, emphasizing returns to scale, investment effects, human capital, and externalities.",
    "**Private Investment and Endogenous Growth: Evidence From Cameroon - WP/97/165**"
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