Analysis of public investments and economic growth in Cameroon

Analysis of public investments and economic growth in Cameroon This study investigates the contribution of public investment to economic growth in Cameroon from 1977 to 2015. It uses the Autoregressive Distributed Lag cointegration (ARDL) approach to estimate a modified version of the production function. The estimates indicate that real gross domestic product, labor force, public investment and private investment are cointegrated. Also based on the estimates, public and private investments have positive and significant effects on real gross domestic product in both the short-run and the long-run. The estimates further show that labor force has a significant long-run relationship with real gross domestic product but found no evidence of a significant short-run relationship. The error correction term is negative and significant suggesting that any deviations of real GDP growth from the long-term value would be corrected subsequently. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economics and Finance Springer Journals

Analysis of public investments and economic growth in Cameroon

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Publisher
Springer US
Copyright
Copyright © 2017 by Springer Science+Business Media, LLC
Subject
Economics; Economics, general; Macroeconomics/Monetary Economics//Financial Economics; Finance, general
ISSN
1055-0925
eISSN
1938-9744
D.O.I.
10.1007/s12197-017-9411-0
Publisher site
See Article on Publisher Site

Abstract

This study investigates the contribution of public investment to economic growth in Cameroon from 1977 to 2015. It uses the Autoregressive Distributed Lag cointegration (ARDL) approach to estimate a modified version of the production function. The estimates indicate that real gross domestic product, labor force, public investment and private investment are cointegrated. Also based on the estimates, public and private investments have positive and significant effects on real gross domestic product in both the short-run and the long-run. The estimates further show that labor force has a significant long-run relationship with real gross domestic product but found no evidence of a significant short-run relationship. The error correction term is negative and significant suggesting that any deviations of real GDP growth from the long-term value would be corrected subsequently.

Journal

Journal of Economics and FinanceSpringer Journals

Published: Sep 20, 2017

References

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