Analysis of public investments and economic growth in Cameroon

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.

Asymmetric Effects of Remittances on Economic Growth in Nigeria: Evidence From Non-linear ARDL Analysis

“…The coefficients of error-correction terms ( ) are negative and statistically significant in both the linear and nonlinear results (see Tables 7 and 8). This confirms the existence of long-run relationship among the variables (Olaniyi & Adedokun, 2020;Ntembe et al, 2018;Banerjee et al, 1998). These results are consistent with the outcomes of ARDL bound tests for linear and nonlinear models as earlier presented in Table 5.…”

“…Following the suggestions of extant studies (Olaniyi & Adedokun, 2020;Olaniyi & Oladeji, 2020;Mohanty, 2019;Ntembe et al, 2018), the short and long-run estimates of linear and nonlinear of error-correction version of ARDL are subjected to a series of robustness checks and diagnostic tests so as to ascertain the reliability of the estimates. Thus, the synopsis of residual diagnostics tests of normality, serial correlation, heteroskedascity and the Ramsey reset test for model specification are provided in Table 9.…”

Az állami beruházások és a hosszú távú gazdasági növekedés közötti kapcsolat feltárása

“…ugyanezt a megközelítést alkalmazva mi is a neoklaszszikus modellt használjuk az állami és magánberuházások és a pakisztáni gazdasági növekedés közötti kapcsolat vizsgálatára. Aschauer (1989), Albala-Bertrand és Mamatzakis (2001) és Ntembe et al (2017), elméleti modelljét követve a jelen tanulmány szintén az állami beruházásokat és más, a kibocsátást befolyásoló változókat használ. A neoklasszikus modell következő, módosított formáját használjuk:…”

Exploring the link between Public Investment and Long Run Economic Growth

“…In the same vein, Ramireez (2009) estimated if the public provision of infrastructure raises labour productivity and economic growth in Argentina and found that public investment do positively affect labour productivity growth. A recent study in this regard is of Ntembe et al, (2017). The study was conducted in cameroon.…”

“…following the same approach, we are also using the neoclassical model to examine the relationship between public and private investment and economic growth for Pakistan. following the theoretical model proposed by Aschauer, (1989), Albala-Bertrand and Mamatzakis, (2001) and Ntembe et al, (2017), the current study also uses public investment and a set of other variables that can affect output. We present below a modified neoclassical model of the form,…”