Private Investment and Endogenous Growth Evidence From Cameroon
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...
| Main Author: | |
|---|---|
| Format: | eBook |
| Language: | English |
| Published: |
Washington, D.C.
International Monetary Fund
1997
|
| Series: | IMF Working Papers
|
| Online Access: | |
| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| 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 |
|---|---|
| Physical Description: | 31 pages |
| ISBN: | 9781451980004 |