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



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Autore: Samaké Issouf Visualizza persona
Titolo: Investment and Growth Dynamics : : An Empirical Assessment Applied to Benin / / Issouf Samaké Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
Descrizione fisica: 1 online resource (36 p.)
Disciplina: 338.9
Soggetto topico: Investments - Benin - Econometric models
Economic development - Benin - Econometric models
Econometrics
Exports and Imports
Investments: General
Money and Monetary Policy
Public Finance
Investment
Capital
Intangible Capital
Capacity
National Government Expenditures and Related Policies: Infrastructures
Other Public Investment and Capital Stock
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Empirical Studies of Trade
Time-Series Models
Dynamic Quantile Regressions
Dynamic Treatment Effect Models
Diffusion Processes
Macroeconomics
Public finance & taxation
Monetary economics
International economics
Econometrics & economic statistics
Private investment
Public investment and public-private partnerships (PPP)
Credit
Terms of trade
Vector autoregression
Saving and investment
Public-private sector cooperation
Economic policy
nternational cooperation
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  Visualizza cluster
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.: 9910789097603321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2008/120