Private Investment and Endogenous Growth: Evidence From Cameroon

Author/Editor:

Dhaneshwar Ghura

Publication Date:

December 1, 1997

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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:

English

Publication Date:

December 1, 1997

ISBN/ISSN:

9781451980004/1018-5941

Stock No:

WPIEA1651997

Pages:

31

Please address any questions about this title to publications@imf.org