Private Investment and Endogenous Growth: Evidence from Cameroon

31 Pages Posted: 15 Feb 2006

See all articles by Dhaneshwar Ghura

Dhaneshwar Ghura

International Monetary Fund (IMF)

Date Written: December 1997

Abstract

This paper investigates empirically the factors that have influenced economic growth in Cameroon during 1963-96. The results, which support the endogenous-growth-type model, indicate that (1) the aggregate production function exhibits increasing returns to scale; (2) the impact of increases in private investment on growth is large, significant, and robust; (3) increases in government investment have a positive impact on growth; (4) human capital development plays an important role in output expansion; (5) positive externalities are generated by physical and human capital accumulation; and (6) growth is boosted by economic policies that foster external competitiveness and a prudent fiscal stance.

JEL Classification: O11, O40, O55, C22

Suggested Citation

Ghura, Dhaneshwar, Private Investment and Endogenous Growth: Evidence from Cameroon (December 1997). IMF Working Paper No. 97/165, Available at SSRN: https://ssrn.com/abstract=883047

Dhaneshwar Ghura (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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