Accès libre

Public and Private Investment and Economic Growth: An Empirical Investigation

À propos de cet article

Citez

Abiad A., Furceri D., Topalova P. (2015) The macroeconomic effects of public investment: Evidence from advanced economies, International Monetary Fund Working Paper No. WP/15/910.2139/ssrn.2613305Search in Google Scholar

Afonso A., Aubyn M. (2016) Economic growth and public and private investment returns, Department of Economics Working Paper No. WP14/2016/DE/UECE, University of Lisbon10.2139/ssrn.2789390Search in Google Scholar

Aremo A.G. (2013) Private investment and sustainable economic growth in economic community of West Africa states (ECOWAS): Panel data cointegration analysis (1986-2011), Journal of Sustainable Development in Africa, 15(7), 142-165Search in Google Scholar

Bahal G., Raissi M., Tulin V. (2015) Crowding-Out or crowding-In? Public and private investment in India, IMF Working Paper WP/15/264, International Monetary Fund10.5089/9781513541655.001Search in Google Scholar

Bèdia A.F. (2007) Relative effects of public and private investment on Còte d’ lvoire’s economic performance, Applied Econometrics and International Development, 7(1), 151-158Search in Google Scholar

Beifert A. (2016) Regional airports’ potential as a driving force for economic and entrepreneurship development–Case study from Baltic Sea Region, Entrepreneurship and Sustainability Issues, 3(3), 228-24310.9770/jesi.2016.3.3(2)Search in Google Scholar

Berndt E.R., Hansson B. (1992) Measuring the contribution of public infrastructure capital in Sweden, The Scandinavian Journal of Economics, 94, 151-16810.2307/3440255Search in Google Scholar

Blejer M.L., Khan M.S. (1984) Government policy and private investment in developing countries, IMF Staff Papers, 31(2), 379-40310.2307/3866797Search in Google Scholar

Bom R.D.P., Ligthart J.E. (2014) What have we learned from three decades of research on the productivity of public capital? Journal of Economic Surveys, 28(5), 889-91610.1111/joes.12037Search in Google Scholar

Calderón C., Moral – Benito E., Serven L. (2015) Is infrastructure capital productive? A dynamic heterogeneous approach, Journal of Applied Econometrics, 30(2), 177-19810.1002/jae.2373Search in Google Scholar

Creel J., Hubert P., Saraceno F. (2010) An empirical analysis of the link between public and private investment in four OECD countries, 17th Banca ď Italia workshop, PerugiaSearch in Google Scholar

Cavallo E., Daude C. (2011) Public investment in developing countries: A blessing or a curse? Journal of Comparative Economics, 39(1), 65-8110.1016/j.jce.2010.10.001Search in Google Scholar

Clark N.L. (1994) Manufacturing apartheid: State corporations in South Africa, Yale University Press10.2307/j.ctt2250wrcSearch in Google Scholar

Dash P. (2016) The impact of public investment on private investment: Evidence from India, The Journal for Decision Makers, 41(4), 288-30710.1177/0256090916676439Search in Google Scholar

Department of Public Enterprises. (2012) Restructuring of state owned enterprises in South Africa, Presidential Review Committee, Ministry of Public Enterprises, Republic of South AfricaSearch in Google Scholar

Devarajan S., Swaroop V., Zou H. (1996) The composition of public expenditure and economic growth, Journal of Monetary Economics, 37(2), 313-34410.1016/S0304-3932(96)90039-2Search in Google Scholar

Engle R.F., Granger C.W.J. (1987) Cointegration and error correction: Representing, estimation and testing, Econometrica, 55 (2), 251-27610.2307/1913236Search in Google Scholar

Erden L., Holcombe R.G. (2005) The effects of public investment on private investment in developing economies, Public Finance Review, 33(5), 575-60210.1177/1091142105277627Search in Google Scholar

Fournier J. (2016) The positive effect of public investment on potential growth, Economics Department Working Paper No. 1347, Organization for Economic Co-operation and DevelopmentSearch in Google Scholar

Ghali K.H. (1998) Public investment and private capital formation in a vector error correction model of growth, Applied Economics, 30(6), 837-84410.1080/000368498325543Search in Google Scholar

Hague T. S. (2013) Effect of public and private investment on economic growth in Bangladesh: An econometric analysis, Research Study Series No-FDRS 05/2013, Ministry of Finance, BangladeshSearch in Google Scholar

Johansen S., Juselius K. (1990) Maximum likelihood estimation and inference on cointegration with applications to the demand for money, Oxford Bulletin of Economics and Statistics, 52(2), 169-21010.1111/j.1468-0084.1990.mp52002003.xSearch in Google Scholar

Kalyvitis S., Vella E. (2015) Productivity effects of public capital maintenance: Evidence form U.S. States, Economic Inquiry, 53(1), 72-9010.1111/ecin.12136Search in Google Scholar

Khan M.S., Kumar M.S. (1997) Public and private investment and the growth process in developing countries, Oxford Bulletin of Economics and Statistics, 59(1), 69-8810.1111/1468-0084.00050Search in Google Scholar

Khan M.S., Reinhart C.M. (1989) Private investment and economic growth in developing countries, IMF Working Paper WP/89/6010.5089/9781451965247.001Search in Google Scholar

Mallick J. (2016) Effects of government investment shocks on private investment and income in India, Indian Council for Research on International Economic Relations Working Paper 315Search in Google Scholar

Milbourne R., Otto G., Voss G. (2003) Public investment and economic growth, Applied Economics, 35(5), 527-54010.1080/0003684022000015883Search in Google Scholar

Mitra A., Sharma C., Ve΄ganzone's-Varoudakis M. (2012) Estimating impact of infrastructure on productivity and efficiency of Indian manufacturing, Applied Economic Letters, 19(8), 779-79810.1080/13504851.2011.603687Search in Google Scholar

Moreno R., López-Bazo E., Artis M. (2003) On the effectiveness of private and public capital, Applied Economics, 35(6), 727-74010.1080/1350485032000066043Search in Google Scholar

National Planning Commission. (2011) National development plan 2030; Our future –Make it work, South African GovernmentSearch in Google Scholar

Nazmi N., Ramirez M.D. (1997) Public and private investment and economic growth in Mexico, Contemporary Economic Policy, 15(1), 65-7510.1111/j.1465-7287.1997.tb00455.xSearch in Google Scholar

Nguyen C.T., Trinh L.T. (2018) The impact of public investment on private investment and economic growth: Evidence from Vietnam, Journal of Asian Business and Economic Studies, 25(1), 15-3210.1108/JABES-04-2018-0003Search in Google Scholar

Odedokun M.O. (1997) Relative effects of public versus private investment spending on economic efficiency and growth in developing countries, Applied Economics, 29(10), 1325-133610.1080/00036849700000023Search in Google Scholar

Odhiambo N.M. (2008) Financial depth, savings and economic growth in Kenya: A dynamic causal linkage, Economic Modeling, 25(4), 704-71310.1016/j.econmod.2007.10.009Search in Google Scholar

Odhiambo N. M. (2010) Energy consumption, prices and economic growth in three SSA countries: A comparative study, Energy Policy, 38, 2463–2469.10.1016/j.enpol.2009.12.040Search in Google Scholar

Pereira A., Andraz J. (2010) On the regional incidence of highway investments in the USA, Annals of Regional Science, Working Papers, No 70, Department of Economics, College of William and Mary, USA10.1007/s00168-010-0409-1Search in Google Scholar

Perkins P., Fedderke J., Luiz J. (2005). An analysis of economic infrastructure investment in South Africa, South African Journal of Economics, 73(2), 211-228210.1111/j.1813-6982.2005.00014.xSearch in Google Scholar

Pesaran H.M., Shin Y. (1999) An autoregressive distributed lag modeling approach to cointegration analysis. In: Strom S., Holly A., Diamond P. (Eds.), Econometrics and Economic Theory in the 20th Century. The Ragner Frisch Centennial Symposium, Cambridge University Press, CambridgeSearch in Google Scholar

Pesaran H.M., Shin Y., Smith R.J. (2001) Bounds testing approach to the analysis of level relationship, Journal of Applied Economics, 16, 289-32610.1002/jae.616Search in Google Scholar

Phetsavong K., Ichihashi M. (2012) The impact of public and private investment on economic growth: Evidence from developing Asian countries, Discussion Paper 2012, International Development and Cooperation, Hiroshima UniversitySearch in Google Scholar

Ponce L.B.A., Navarro R.P. (2016) Effect of public-private infrastructure investment on economic growth, Network Industries Quarterly, 18(2), 10-12Search in Google Scholar

Ramirez M.D., Nazmi N. (2003) Public investment and economic growth in Latin America: An empirical test, Review of Development Economics, 7(1), 115-12610.1111/1467-9361.00179Search in Google Scholar

Republic of South Africa, (2015) Estimates of national expenditure 2015, National Treasury: Republic of South AfricaSearch in Google Scholar

Sahoo P., Dash R.K., Nataraj G. (2010) Infrastructure development and economic growth in China, Discussion Paper No. 261, Institute of Developing EconomiesSearch in Google Scholar

Sánchez-Juárez I., García-Almada R. (2016) Public debt, public investment and economic growth in Mexico, International Journal of Financial Studies, 4(6), 1-1410.3390/ijfs4020006Search in Google Scholar

Seed N., Hyder K., Ali A. (2006) The impact of public investment on private investment: A disaggregated analysis, The Pakistan Development Review, 4(2), 639-66310.30541/v45i4IIpp.639-663Search in Google Scholar

Shrestha M.B., Chrowdhury K. (2007) Testing financial liberalization hypothesis with ARDL modeling approach, Applied Financial Economics, 17(18), 1529-154010.1080/09603100601007123Search in Google Scholar

Tchouassi G. (2014) Private capital and investment climate for economic growth: Empirical lessons based on ARDL bound test technique, European Journal of Sustainable Development, 3(2), 17-3210.14207/ejsd.2014.v3n2p17Search in Google Scholar

Tong T., Yu E.T., Jensen K., Ugarte D.D.L.T., Cho S. (2016) Impact of public infrastructure on output of U.S. food manufacturing industries: A heterogeneous dynamic panel approach, Agribusiness, 32(4), 439-45310.1002/agr.21455Search in Google Scholar

Wang B. (2004) Effects of government expenditure on private investment: Canada empirical evidence, Empirical Economics, 30, 493-50410.1007/s00181-005-0245-9Search in Google Scholar

World Bank. (2017) World development indicators, Washinton, DC, World BankSearch in Google Scholar

Yovo K. (2017) Public expenditure, private investment and economic growth in Togo, Theoretical Economic Letters, 7, 193-20910.4236/tel.2017.72017Search in Google Scholar

Zou Y. (2006) Empirical studies on the relationship between public and private investment and GDP growth, Applied Economics, 38(11), 1259-127010.1080/00036840500392649Search in Google Scholar