Investment, Capital Accumulation, and Growth Some Evidence from The Gambia 1964-98
This paper considers the potential variables that have determined economic growth in The Gambia during 1964-98. The results indicate that The Gambia's aggregate production function exhibits increasing returns to scale, thus supporting the endogenous growth-type model. The impact of private inve...
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| Format: | eBook |
| Language: | English |
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Washington, D.C.
International Monetary Fund
1999
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| Series: | IMF Working Papers
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| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | This paper considers the potential variables that have determined economic growth in The Gambia during 1964-98. The results indicate that The Gambia's aggregate production function exhibits increasing returns to scale, thus supporting the endogenous growth-type model. The impact of private investment-and thus private capital accumulation-on output is large and significant. Furthermore, increases in public investment boost output substantially. Finally, the effects associated with human capital accumulation are positive and statistically significant. The paper also estimates a series on total factor productivity growth that indicates that The Gambia was able to use its resources more efficiently |
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| Physical Description: | 32 pages |
| ISBN: | 9781451853995 |