06718oam 22013334 450 991080976700332120240402050204.01-4623-3663-91-4527-8742-51-282-84074-697866128407461-4518-6980-0(CKB)3390000000010377(EBL)1607867(MiAaPQ)EBC1607867(Au-PeEL)EBL1607867(CaPaEBR)ebr10368584(OCoLC)870245286(IMF)WPIEE2008120(EXLCZ)99339000000001037720020129d2008 uf 0engurcnu||||||||rdacontentrdamediardacarrierInvestment and Growth Dynamics : An Empirical Assessment Applied to Benin /Issouf Samaké1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (36 p.)IMF Working PapersIMF working paper ;WP/08/120Description based upon print version of record.Includes bibliographical references.Contents; I. Introduction; II. Background and Stylized Facts; Figures; 1. Constant GDP and Private Investment, 1965-2005; 2. Selected Economic Indicators, 1965-2005; Text Tables; 1. Comparative Private Investment, 2000-05; III. The Model and Methodological Issues; A. Modeling Procedure; 2. Selected Countries: Rankings of Doing Business; B. Variable Choices and Ordering; 3. Study Objective and Econometric Methodology; C. The Model; D. Structural Model; IV. Empirical Evidence; A. Statistics Tests; B. Economic Interpretations; 4. Error Correction Model, 1965-20055. Forecast-Error Variance Decomposition 3. Historical Decomposition of Private Investment, 1975-2005; 4. Impulse Response to Various Types of Shock; V. Implications and Conclusions; Appendix Tables; 1. Unit Root Test, 2000-05; 2. Optimal Lag Length; 3. Residual Analysis of Unrestricted VAR(2); 4. Unrestricted Cointegration Rank Tests, 1965-2005; 5. AR, Normality, and Heteroschedasticity Tests; 6. Structural Model / Long-Run Matrix; Appendix Figures; 1. Time Series of Cointegration Vectors; 2. Cointegration Analysis: Recursive Eigenvalues; 3. Recursive Constancy Statistics4. Residual Normality Tests5. Historical Decomposition of GDP, 1975-2005; ReferencesWe investigate the nexus of public and private investment and assess the impact of both types of investment on growth. Using annual data for 1965-2005, we employ a coherent set of structural VAR outputs to model investment and growth in Benin. We find that in addition to institutional and regulatory developments, public investment and private capital formation facilitated by access to financial services have a significant impact on growth. The analysis supports the crowding-in effect of public investment. It also confirms that the slow pace of improvement in Benin's economic freedom index, which reflects its relatively weak institutions and slow pace of reform, deters private investment. From the cointegration regressions, the speed-of-adjustment analysis suggests that 27 percent of the deviation of GDP from its long-run equilibrium is corrected every year, which implies that it takes two to three years to cut the gap in half.IMF Working Papers; Working Paper ;No. 2008/120InvestmentsBeninEconometric modelsEconomic developmentBeninEconometric modelsEconometricsimfExports and ImportsimfInvestments: GeneralimfMoney and Monetary PolicyimfPublic FinanceimfInvestmentimfCapitalimfIntangible CapitalimfCapacityimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfEmpirical Studies of TradeimfTime-Series ModelsimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfDiffusion ProcessesimfMacroeconomicsimfPublic finance & taxationimfMonetary economicsimfInternational economicsimfEconometrics & economic statisticsimfPrivate investmentimfPublic investment and public-private partnerships (PPP)imfCreditimfTerms of tradeimfVector autoregressionimfSaving and investmentimfPublic-private sector cooperationimfEconomic policyimfnternational cooperationimfBeninEconomic conditionsEconometric modelsBeninimfInvestmentsEconometric models.Economic developmentEconometric models.EconometricsExports and ImportsInvestments: GeneralMoney and Monetary PolicyPublic FinanceInvestmentCapitalIntangible CapitalCapacityNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralEmpirical Studies of TradeTime-Series ModelsDynamic Quantile RegressionsDynamic Treatment Effect ModelsDiffusion ProcessesMacroeconomicsPublic finance & taxationMonetary economicsInternational economicsEconometrics & economic statisticsPrivate investmentPublic investment and public-private partnerships (PPP)CreditTerms of tradeVector autoregressionSaving and investmentPublic-private sector cooperationEconomic policynternational cooperation338.9Samaké Issouf1136558DcWaIMFBOOK9910809767003321Investment and Growth Dynamics3921646UNINA