Private Investment and Endogenous Growth: Evidence From Cameroon
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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 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.
Series:
Working Paper No. 1997/165
Subject:
Expenditure Financial institutions Human capital Labor National accounts Private investment Public investment spending Stocks
English
Publication Date:
December 1, 1997
ISBN/ISSN:
9781451980004/1018-5941
Stock No:
WPIEA1651997
Pages:
31
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