Investment and Growth Dynamics : : An Empirical Assessment Applied to Benin / / Issouf Samaké

• Autore: Samaké Issouf
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (36 p.)
• Disciplina: 338.9
• Soggetto topico: Investments - Benin - Econometric models; Economic development - Benin - Econometric models; Capacity; Capital; Credit; Diffusion Processes; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Econometrics & economic statistics; Econometrics; Economic policy; Empirical Studies of Trade; Exports and Imports; Intangible Capital; International economics; Investment; Investments: General; Macroeconomics; Monetary economics; Monetary Policy, Central Banking, and the Supply of Money and Credit: General; Money and Monetary Policy; National Government Expenditures and Related Policies: Infrastructures; Nternational cooperation; Other Public Investment and Capital Stock; Private investment; Public finance & taxation; Public Finance; Public investment and public-private partnerships (PPP); Public-private sector cooperation; Saving and investment; Terms of trade; Time-Series Models; Vector autoregression
• Soggetto geografico: Benin Economic conditions Econometric models; Benin
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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, 1965-2005 ; 5. 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 ; 4. Residual Normality Tests5. Historical Decomposition of GDP, 1975-2005; References
• Sommario/riassunto: We 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.
• Titolo autorizzato: Investment and Growth Dynamics
• ISBN: 1-4623-3663-9; 1-4527-8742-5; 1-282-84074-6; 9786612840746; 1-4518-6980-0
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910809767003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2008/120