Explaining Investment in the WAEMU
Both theoretical and empirical studies have documented the importance of investment for long run growth. In fact, capital formation is a necessary condition for growth in almost all growth models. The investment share is a variable that is always present on the right-hand side of growth regressions,...
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Zusammenfassung: | Both theoretical and empirical studies have documented the importance of investment for long run growth. In fact, capital formation is a necessary condition for growth in almost all growth models. The investment share is a variable that is always present on the right-hand side of growth regressions, coming out with a positive and statistically significant coefficient2. This result has motivated a large empirical literature on the explanation of cross country differences in investment shares. Knowing why some countries or regions invest more than others can lead to useful policy implications. |
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