06889oam 22014054 450 991095579750332120250426110858.0978661284074697814623366301462336639978145278742814527874259781282840744128284074697814518698041451869800(CKB)3390000000010377(EBL)1607867(MiAaPQ)EBC1607867(Au-PeEL)EBL1607867(CaPaEBR)ebr10368584(OCoLC)870245286(IMF)WPIEE2008120(IMF)WPIEA2008120WPIEA2008120(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 modelsCapacityimfCapitalimfCreditimfDiffusion ProcessesimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfEconometrics & economic statisticsimfEconometricsimfEconomic policyimfEmpirical Studies of TradeimfExports and ImportsimfIntangible CapitalimfInternational economicsimfInvestmentimfInvestments: GeneralimfMacroeconomicsimfMonetary economicsimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMoney and Monetary PolicyimfNational Government Expenditures and Related Policies: InfrastructuresimfNternational cooperationimfOther Public Investment and Capital StockimfPrivate investmentimfPublic finance & taxationimfPublic FinanceimfPublic investment and public-private partnerships (PPP)imfPublic-private sector cooperationimfSaving and investmentimfTerms of tradeimfTime-Series ModelsimfVector autoregressionimfBeninEconomic conditionsEconometric modelsBeninimfInvestmentsEconometric models.Economic developmentEconometric models.CapacityCapitalCreditDiffusion ProcessesDynamic Quantile RegressionsDynamic Treatment Effect ModelsEconometrics & economic statisticsEconometricsEconomic policyEmpirical Studies of TradeExports and ImportsIntangible CapitalInternational economicsInvestmentInvestments: GeneralMacroeconomicsMonetary economicsMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMoney and Monetary PolicyNational Government Expenditures and Related Policies: InfrastructuresNternational cooperationOther Public Investment and Capital StockPrivate investmentPublic finance & taxationPublic FinancePublic investment and public-private partnerships (PPP)Public-private sector cooperationSaving and investmentTerms of tradeTime-Series ModelsVector autoregression338.9Samaké Issouf1136558DcWaIMFBOOK9910955797503321Investment and Growth Dynamics4371275UNINA