Private And Public Investments And Economic Growth
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Author |
: Mr.Andrew M. Warner |
Publisher |
: International Monetary Fund |
Total Pages |
: 76 |
Release |
: 2014-08-11 |
ISBN-10 |
: 9781498395724 |
ISBN-13 |
: 1498395724 |
Rating |
: 4/5 (24 Downloads) |
Synopsis Public Investment as an Engine of Growth by : Mr.Andrew M. Warner
This paper looks at the empirical record whether big infrastructure and public capital drives have succeeded in accelerating economic growth in low-income countries. It looks at big long-lasting drives in public capital spending, as these were arguably clear and exogenous policy decisions. On average the evidence shows only a weak positive association between investment spending and growth and only in the same year, as lagged impacts are not significant. Furthermore, there is little evidence of long term positive impacts. Some individual countries may be exceptions to this general result, as for example Ethiopia in recent years, as high public investment has coincided with high GDP growth, but it is probably too early to draw definitive conclusions. The fact that the positive association is largely instantaneous argues for the importance of either reverse causality, as capital spending tends to be cut in slumps and increased in booms, or Keynesian demand effects, as spending boosts output in the short run. It argues against the importance of long term productivity effects, as these are triggered by the completed investments (which take several years) and not by the mere spending on the investments. In fact a slump in growth rather than a boom has followed many public capital drives of the past. Case studies indicate that public investment drives tend eventually to be financed by borrowing and have been plagued by poor analytics at the time investment projects were chosen, incentive problems and interest-group-infested investment choices. These observations suggest that the current public investment drives will be more likely to succeed if governments do not behave as in the past, and instead take analytical issues seriously and safeguard their decision process against interests that distort public investment decisions.
Author |
: Stephen A. Marglin |
Publisher |
: |
Total Pages |
: 104 |
Release |
: 1967 |
ISBN-10 |
: UCAL:B4310005 |
ISBN-13 |
: |
Rating |
: 4/5 (05 Downloads) |
Synopsis Public Investment Criteria by : Stephen A. Marglin
Essay on public investment criteria and the role of cost benefit analysis in the implementation of economic planning for economic development in India - criteria include consumption benefits, costs, time factor, interest, budgetary constraints, risk and dynamics. References pp. 100 and 101.
Author |
: International Monetary Fund |
Publisher |
: International Monetary Fund |
Total Pages |
: 20 |
Release |
: 1989-07-26 |
ISBN-10 |
: 9781451965247 |
ISBN-13 |
: 1451965249 |
Rating |
: 4/5 (47 Downloads) |
Synopsis Private Investment and Economic Growth in Developing Countries by : International Monetary Fund
Despite the growing support for market-oriented strategies, and for a greater role of private investment, empirical growth models for developing countries typically make no distinction between the private and public components of investment. This paper sheds some light on this important issue by formulating a simple growth model that separates the effects of public sector and private sector investment. This model is estimated for a cross - section sample of 24 developing countries, and the results support the notion that private investment has a larger direct effect on growth than does public investment.
Author |
: Stephen S. Everhart |
Publisher |
: World Bank Publications |
Total Pages |
: 76 |
Release |
: 2001 |
ISBN-10 |
: 0821350102 |
ISBN-13 |
: 9780821350102 |
Rating |
: 4/5 (02 Downloads) |
Synopsis Trends in Private Investment in Developing Countries by : Stephen S. Everhart
Covers trends in 63 developing countries.
Author |
: Khwaja Sarmad |
Publisher |
: |
Total Pages |
: 50 |
Release |
: 1990 |
ISBN-10 |
: UCSD:31822016581654 |
ISBN-13 |
: |
Rating |
: 4/5 (54 Downloads) |
Synopsis Public and Private Investment and Economic Growth by : Khwaja Sarmad
Author |
: Lawrence Bouton |
Publisher |
: World Bank Publications |
Total Pages |
: 64 |
Release |
: 2000-01-01 |
ISBN-10 |
: 0821347853 |
ISBN-13 |
: 9780821347850 |
Rating |
: 4/5 (53 Downloads) |
Synopsis Trends in Private Investment in Developing Countries by : Lawrence Bouton
This discussion paper examines in its first part, the role of private investment in economic growth. While theoretical growth models developed in the economics literature, make no distinction between private, and public components of investment, there is an emerging appreciation that private investment is more efficient, and productive tan public investment. Results from the recent empirical literature, updated here with the recent data on private investment, suggest that private investment has a stronger association with long run economic growth than public investment. The second part shows trends in private, and public fixed investment in fifty developing countries. On average, the ratio of private investment to GDP continued its upward trend, reaching record levels in 1998, the most recent year for which comparable data exist. That year, average private investment reached 14.3 percent of GDP, but public investment, fell to only 7.0 percent of GDP, its lowest level since 1974.
Author |
: Mr.Serkan Arslanalp |
Publisher |
: International Monetary Fund |
Total Pages |
: 36 |
Release |
: 2010-07-01 |
ISBN-10 |
: 9781455201860 |
ISBN-13 |
: 1455201863 |
Rating |
: 4/5 (60 Downloads) |
Synopsis Public Capital and Growth by : Mr.Serkan Arslanalp
This paper estimates the impact of public capital on economic growth for forty-eight OECD and non-OECD countries during 1960 - 2001. Using the production function and its extensions, it finds a positive - but concave - elasticity of output with respect to public capital, which is robust to changes in time intervals and varying depreciation rates. Furthermore, in non-OECD countries the growth impact of public capital is higher once longer time intervals are considered.
Author |
: Heather Boushey |
Publisher |
: |
Total Pages |
: 305 |
Release |
: 2019 |
ISBN-10 |
: 9780674919310 |
ISBN-13 |
: 0674919319 |
Rating |
: 4/5 (10 Downloads) |
Synopsis Unbound by : Heather Boushey
Many fear that efforts to address inequality will undermine the economy as a whole. But the opposite is true: rising inequality has become a drag on growth and an impediment to market competition. Heather Boushey breaks down the problem and argues that we can preserve our nation's economic traditions while promoting shared economic growth.
Author |
: Richard Hemming |
Publisher |
: International Monetary Fund |
Total Pages |
: 28 |
Release |
: 2006 |
ISBN-10 |
: 1589065476 |
ISBN-13 |
: 9781589065475 |
Rating |
: 4/5 (76 Downloads) |
Synopsis Fiscal Policy and Public Investment by : Richard Hemming
Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?
Author |
: Stephen A. Marglin |
Publisher |
: Routledge |
Total Pages |
: 130 |
Release |
: 2014-10-17 |
ISBN-10 |
: 9781317569114 |
ISBN-13 |
: 1317569113 |
Rating |
: 4/5 (14 Downloads) |
Synopsis Public Investment Criteria (Routledge Revivals) by : Stephen A. Marglin
This book, first published in 1967, explores some of the problems formulating investment criteria for the public sector of a mixed-enterprise, underdeveloped economy. The typical essay on public investment criteria explicitly or implicitly postulates a single goal for economic analysis – maximization of weighted average of national income over time – and relegates all other objectives of public policy to a limbo of "political" and "social" objectives not amenable to systematic, rational treatment. In contrast Professor Marglin assumes a multiplicity of objectives and explores ways and means of expressing contributions to different objectives in common terms. The book also investigates the relationship of specific investment criteria to the objectives of public policy. Benefits and costs are defined separately for each objective, as are so-called "secondary" benefits. This book is suited for students of economics.