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PUBLIC AND PRIVATE CAPITAL FORMATION AND ECONOMIC GROWTH IN MALAYSIA, 1961-1995

International Journal of Economics, Management and Accounting

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Title PUBLIC AND PRIVATE CAPITAL FORMATION AND ECONOMIC GROWTH IN MALAYSIA, 1961-1995
 
Creator Ibrahim, Mansor H.
 
Description This paper analyzes the productivity of public and private capital formation in a developing economy, Malaysia, using annual data from 1961 to 1995. The analysis is based on neoclassical growth regression, where the transition to the steady-state level of income per capita is modeled using an error correction framework. The results suggest that the public investment has been unproductive over the periods under consideration. Consistent with existing empirical studies, the private investment rate and the export performance of the country are positively related to economic growth. Our results call for a reduction in the public capital formation. However, for this recommendation to be more convincing, we believe that further analyses are much needed to examine which types of public capital are unproductive.JEL classification: C22, E22, E69, O49, O53Key words: Cointegration, Economic growth, Public capital
 
Publisher Kulliyyah of Economics and Management Sciences
 
Date 2013-02-27
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/56
 
Source International Journal of Economics, Management and Accounting; Vol 8 No 1 (2000)
2462-1420
 
Language eng
 
Relation http://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/56/46