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Optimal Public Investment, Growth, and Consumption: Fresh Evidence from African Countries

Augustin Kwasi Fosu, Yoseph Getachew, Thomas H.W. Ziesemer
This paper develops a model positing a nonlinear relationship between public investment and growth. The model is then applied to a panel of African countries using nonlinear estimating procedures. The growth-maximizing level of public investment is estimated at about 10 percent of GDP based on...
Oct 2014
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