Trends in Private Investment in Developing Countries : Statistics for 1970-1998

This discussion paper examines in its first part, the role of private investment in economic growth. While theoretical growth models developed in the economics literature, make no distinction between private, and public components of investment, there is an emerging appreciation that private investment is more efficient, and productive tan public investment. Results from the recent empirical literature, updated here with the recent data on private investment, suggest that private investment has a stronger association with long run economic growth than public investment. The second part shows trends in private, and public fixed investment in fifty developing countries. On average, the ratio of private investment to GDP continued its upward trend, reaching record levels in 1998, the most recent year for which comparable data exist. That year, average private investment reached 14.3 percent of GDP, but public investment, fell to only 7.0 percent of GDP, its lowest level since 1974.

Bibliographic Details

Main Authors:	Bouton, Lawrence, Sumlinski, Mariusz A.
Format:	Publication biblioteca
Language:	English en_US
Published:	Washington, DC: World Bank and the International Finance Corporation 2000-06
Subjects:	ADVERSE CONSEQUENCES, ALLOCATIVE EFFICIENCY, ANNUAL GROWTH, AVERAGE ANNUAL GROWTH, BASIC EDUCATION, CAPITAL ACCUMULATION, CAPITAL STOCK, CAPITAL-OUTPUT RATIO, COMPETITIVE ENVIRONMENT, COMPETITIVE MARKETS, COMPETITIVE PRESSURES, CONSTANT RETURNS, CONSTANT RETURNS TO SCALE, COUNTRY GROWTH, CROSS- COUNTRY GROWTH REGRESSIONS, DATA SETS, DEBT, DEVELOPED WORLD, DEVELOPING COUNTRIES, DEVELOPING WORLD, DEVELOPMENT EFFORTS, DEVELOPMENT REPORT, DIMINISHING RETURNS, DISEQUILIBRIUM, ECONOMIC DEVELOPMENT, ECONOMIC FACTORS, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ECONOMIC POLICY, ECONOMICS, ECONOMICS LITERATURE, ECONOMICS PROFESSION, ECONOMISTS, ELASTICITIES, ELECTRICITY GENERATION, EMPIRICAL GROWTH LITERATURE, EMPIRICAL LITERATURE, EMPIRICAL RESEARCH, EMPIRICAL RESULTS, EMPIRICAL WORK, ENDOGENOUS GROWTH, ESTIMATED COEFFICIENT, EXOGENOUS FACTORS, EXPENDITURES, EXTERNALITIES, FACTOR ACCUMULATION, FACTORS OF PRODUCTION, FINANCIAL ASSISTANCE, FOREIGN DIRECT INVESTMENT, GDP, GNP, GOVERNMENT REGULATION, GROWTH, GROWTH ACCOUNTING, GROWTH LITERATURE, GROWTH MODELS, GROWTH PROCESS, GROWTH RATE, GROWTH RATES, GROWTH REGRESSIONS, GROWTH THEORY, HIGH GROWTH, HUMAN CAPITAL, INCOME COUNTRIES, INCOME LEVELS, INDUSTRIALIZED COUNTRIES, INDUSTRIALIZED WORLD, INTELLECTUAL PROPERTY, INVESTMENT, INVESTMENT RATE, INVESTMENT RATIO, LABOR FORCE, LABOR REGULATIONS, LEVEL OF CAPITAL, LEVEL OF OUTPUT, LONG RUN, LONG-RUN GROWTH, MARGINAL COST, MARGINAL PRODUCTIVITY, MARGINAL RETURN, MARKET ECONOMIES, MARKET ECONOMY, MEMBER COUNTRIES, MONOPOLY RENTS, NEOCLASSICAL GROWTH MODEL, NET INVESTMENT, OIL, OIL PRICE, OUTPUT GROWTH, OUTPUT RATIO, PATENTS, PER CAPITA GROWTH, PER CAPITA INCOME, PER CAPITA INCOME LEVELS, POLICY ENVIRONMENT, POPULATION GROWTH, PRIVATE INVESTMENT, PRIVATE INVESTORS, PRIVATE SECTOR, PRODUCTION FUNCTION, PRODUCTIVITY, PRODUCTIVITY OF CAPITAL, PUBLIC GOOD, PUBLIC INVESTMENT, PUBLIC SECTOR, RAPID GROWTH, REFORM EFFORTS, RELATIVE IMPORTANCE, RELATIVE PRICES, SURPLUS LABOR, TECHNICAL PROGRESS, TECHNOLOGICAL CHANGE, TECHNOLOGICAL CHANGES, TECHNOLOGICAL INNOVATION, TECHNOLOGICAL PROGRESS, TECHNOLOGY TRANSFER, TELECOMMUNICATIONS, TOTAL FACTOR PRODUCTIVITY, TOTAL FACTOR PRODUCTIVITY GROWTH, TOTAL OUTPUT, TRANSITION COUNTRIES, UNEMPLOYMENT,
Online Access:	http://documents.worldbank.org/curated/en/2000/06/1620970/trends-private-investment-developing-countries-statistics-1970-1998 http://hdl.handle.net/10986/13986
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