Impact of Public Investment on Economic Growth

Rabnawaz, Ambar; Jafar, Rana Muhammad Sohail

doi:10.2139/ssrn.2796368

Cited by 13 publications

(11 citation statements)

References 23 publications

(19 reference statements)

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“…Similarly, investment shows the existence of strong positive and mostly significant estimates on economic growth in the SADC region. These results confirm the conclusions of other studies, such as Rabnawaz and Jafar (2015). Inflation also presents the expected sign and the variable is significant at 1st level of significance.…”

supporting

confidence: 91%

Untitled

2019

Demogr. soc. ekon.

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Видавці та засновники: Національна академія наук України Інститут демографії та соціальних досліджень імені М.В. Птухи НАН України Свідоцтво про державну реєстрацію друкованого засобу масової інформації 12.01.2004 р. серія КВ №8304. Перереєстроване 22.06.2012 р. серія КВ №19037-7827 ПР Державною реєстраційною службою України. З 2015 року журнал виходить тричі на рік (лист Міністерства юстиції України № 20679-0-33-151194 від 12.08.2015 р. про внесення дозволу до Державного реєстру друкованих засобів масової інформації та інформаційних агентств як суб'єктів інформаційної діяльності) Відповідно до наказу МОН України № 32 від 15.01.2018 р. журнал «Демографія та соціальна економіка» входить до категорії В Переліку наукових фахових видань, в яких можуть публікуватися результати дисертаційних робіт на здобуття наукових ступенів доктора і кандидата наук Затверджено до друку та опублікування в мережі Інтернет Вченою радою Інституту демографії та соціальних досліджень ім.

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confidence: 91%

Untitled

2019

Demogr. soc. ekon.

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“…Investment leads to an increase in the aggregate supply by enhancing the level of domestic output, income, and employment. The aggregate demand also increases, which further enhances the level of income, employment through the multiplier effect (Rabnawaz et al, 2015). The other variables like schooling, FDI, openness, and financial development"stimulate economic growth.…”

Section: Fixed Effect Model (Fem) Resultsmentioning

confidence: 99%

Is External Debt a Boon or a Curse? Empirical Evidence from South Asian Countries

Hameed¹,

Ali²,

Batool³

2020

IRMBR

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Over the years, the South Asian countries were facing the dilemma of twin’s deficits because they had failed to generate sufficient revenues to finance their budget. Consequently, they were continuously relying on both domestic and external debt to bridge these deficits which had put a severe implication on their economic growth. Their financial position continued to deteriorate and undermined all the efforts of the governments made to stimulate economic growth. The governments in these countries failed to generate enough revenues through internal sources. Therefore, the deficits were normally fiancé through external sources. The paper examined whether the external debt was a blessing or course to the economic growth of South Asian countries i.e. Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. For this purpose 30 years of panel data of these countries from 1990 to 2019 had been taken. Fixed effect model and Panel Autoregressive Distributive Lag (ARDL) Approach had been applied to examine the short-run and long-run association among the variables. The natural log of GDP per capita was used as a proxy for economic growth. The other variables were external debt, initial GDP, foreign direct investment, trade openness, investment, and secondary school investment rate. The outcomes of the study indicated that that external debt had a negative impact on economic growth both in the short-run and long-run. This revealed that external debt had not been utilized effectively and productively. The study suggested that effort would be made to manage the external debt and reduced the twin's deficits to minimize the harmful impact of external debt on the economy. Keywords: South Asian, External Debt, ARDL, Fixed Effect Model, Economic Growth.

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“…Researchers on the linkage between internal investments and economic growth have not fully viewed relationships from economic, finance, and accounting terms perspective. In Kenya, research findings showed a positive relationship between public investments and economic growth (Maingi, 2017) as too several other studies considered (Ghani and Din, 2006;Rabnawaz and Jafar, 2015). However, there is a case of negative public investments influencing economic growth (Saidjada and Jahan, 2018) and private investments at the end in Pakistan.…”

Section: 2mentioning

confidence: 92%

The Nexus Between Internal Investment and Economic Growth in Kenya

Kamenju¹,

Olweny²

2020

Journal of Applied Finance &Amp; Banking

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Countries with a high investment GDP ratio benefit from better, competitive products and services. Which increases capital stock for production, more employment, and income; in turn reducing social and income disparities. The Kenyan government envisaged a sustained economic growth of 10% by investing in priority sectors; to become an industrialized middle-income country by the year 2030; though un-achieved to date. To examine the nexus between internal investments and economic growth, the study used annual time-series observations from the years 1996 to 2017; where internal investments are from the government; private domestic; and public-private partnership; and exogenous variables were rates of real interest; social discount; commercial lending interest; and the country risk premium on lending for investment decisions. The inference used stationarity; cointegration; significance; causality; variance decomposition of forecast error; and impulse response function. Stationarity tests suited the ARDL model which also supports small size observations. Findings were; a significant and positive influence on economic growth from lags of real GDP, government, private domestic, except public-private partnership investments. Anticipation for growth lies with; significant pairwise causality (real GDP with public investment); significant block exogeneity (public investment); endogeneity (real GDP), and exogeneity (public investment) influence; and short-run private domestic investment recovery. Keywords: ARDL, Economic Growth, Public Investment, Private Domestic Investment, Public-Private Partnership Investment, Investment Decisions.

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Impact of Public Investment on Economic Growth

Cited by 13 publications

References 23 publications

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Is External Debt a Boon or a Curse? Empirical Evidence from South Asian Countries

The Nexus Between Internal Investment and Economic Growth in Kenya

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