LEADER 06718oam 22013334 450 001 9910809767003321 005 20240402050204.0 010 $a1-4623-3663-9 010 $a1-4527-8742-5 010 $a1-282-84074-6 010 $a9786612840746 010 $a1-4518-6980-0 035 $a(CKB)3390000000010377 035 $a(EBL)1607867 035 $a(MiAaPQ)EBC1607867 035 $a(Au-PeEL)EBL1607867 035 $a(CaPaEBR)ebr10368584 035 $a(OCoLC)870245286 035 $a(IMF)WPIEE2008120 035 $a(EXLCZ)993390000000010377 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aInvestment and Growth Dynamics : $eAn Empirical Assessment Applied to Benin /$fIssouf Samaké 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (36 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/120 300 $aDescription based upon print version of record. 320 $aIncludes bibliographical references. 327 $aContents; 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, 1965-2005 327 $a5. 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 Statistics 327 $a4. Residual Normality Tests5. Historical Decomposition of GDP, 1975-2005; References 330 3 $aWe investigate the nexus of public and private investment and assess the impact of both types of investment on growth. Using annual data for 1965-2005, we employ a coherent set of structural VAR outputs to model investment and growth in Benin. We find that in addition to institutional and regulatory developments, public investment and private capital formation facilitated by access to financial services have a significant impact on growth. The analysis supports the crowding-in effect of public investment. It also confirms that the slow pace of improvement in Benin's economic freedom index, which reflects its relatively weak institutions and slow pace of reform, deters private investment. From the cointegration regressions, the speed-of-adjustment analysis suggests that 27 percent of the deviation of GDP from its long-run equilibrium is corrected every year, which implies that it takes two to three years to cut the gap in half. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/120 606 $aInvestments$zBenin$xEconometric models 606 $aEconomic development$zBenin$xEconometric models 606 $aEconometrics$2imf 606 $aExports and Imports$2imf 606 $aInvestments: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aInvestment$2imf 606 $aCapital$2imf 606 $aIntangible Capital$2imf 606 $aCapacity$2imf 606 $aNational Government Expenditures and Related Policies: Infrastructures$2imf 606 $aOther Public Investment and Capital Stock$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aTime-Series Models$2imf 606 $aDynamic Quantile Regressions$2imf 606 $aDynamic Treatment Effect Models$2imf 606 $aDiffusion Processes$2imf 606 $aMacroeconomics$2imf 606 $aPublic finance & taxation$2imf 606 $aMonetary economics$2imf 606 $aInternational economics$2imf 606 $aEconometrics & economic statistics$2imf 606 $aPrivate investment$2imf 606 $aPublic investment and public-private partnerships (PPP)$2imf 606 $aCredit$2imf 606 $aTerms of trade$2imf 606 $aVector autoregression$2imf 606 $aSaving and investment$2imf 606 $aPublic-private sector cooperation$2imf 606 $aEconomic policy$2imf 606 $anternational cooperation$2imf 607 $aBenin$xEconomic conditions$xEconometric models 607 $aBenin$2imf 615 0$aInvestments$xEconometric models. 615 0$aEconomic development$xEconometric models. 615 7$aEconometrics 615 7$aExports and Imports 615 7$aInvestments: General 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aInvestment 615 7$aCapital 615 7$aIntangible Capital 615 7$aCapacity 615 7$aNational Government Expenditures and Related Policies: Infrastructures 615 7$aOther Public Investment and Capital Stock 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aEmpirical Studies of Trade 615 7$aTime-Series Models 615 7$aDynamic Quantile Regressions 615 7$aDynamic Treatment Effect Models 615 7$aDiffusion Processes 615 7$aMacroeconomics 615 7$aPublic finance & taxation 615 7$aMonetary economics 615 7$aInternational economics 615 7$aEconometrics & economic statistics 615 7$aPrivate investment 615 7$aPublic investment and public-private partnerships (PPP) 615 7$aCredit 615 7$aTerms of trade 615 7$aVector autoregression 615 7$aSaving and investment 615 7$aPublic-private sector cooperation 615 7$aEconomic policy 615 7$anternational cooperation 676 $a338.9 700 $aSamaké$b Issouf$01136558 801 0$bDcWaIMF 906 $aBOOK 912 $a9910809767003321 996 $aInvestment and Growth Dynamics$93921646 997 $aUNINA