Public Policies and Private Savings and Investment in Sub-Saharan Africa; An Empirical Investigation
| Autor: | Michael T. Hadjimichael, Dhaneshwar Ghura |
|---|---|
| Rok vydání: | 1995 |
| Předmět: |
Government
Deficit spending Dummy variable Fiscal policy Investment Sub-Saharan Africa private investment standard deviation equation dummy variables correlation General Earth and Planetary Sciences Public policy Financial system Business External debt Investment (macroeconomics) Financial deepening General Environmental Science |
| Popis: | This paper assesses empirically the role of public policies in stimulating private savings and investment in sub-Saharan African countries, based on data for the period 1986-92. The main findings of the analysis are as follows: (i) policies effective in stimulating private savings and investment include those that keep the rate of inflation low, reduce macroeconomic uncertainty, promote financial deepening, and lower the external debt burden; (ii) measures that promote structural reforms and reduce the budget deficit (without lowering government investment) help to raise private investment; and (iii) declines in government savings are only partially offset by increases in private savings. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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