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Public Investment and Economic Growth in the Three Little Dragons: Evidence from Heterogeneous Dynamic Panel Data

International Journal of Business and Information

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Field Value
 
Title Public Investment and Economic Growth in the Three Little Dragons: Evidence from Heterogeneous Dynamic Panel Data
 
Creator Shah Bukhari, Syed Adnan Haider Ali
Ali, Liaqat
Saddaqat, Mahpara
 
Description Although the investment–growth relationship in the NIEs has been studied rather extensively, the casual connection between public capital and economic growth has not yet been fully explored. This paper makes a novel attempt to study the interactions among these macroeconomic variables with the help of 1971-2000 heterogeneous dynamic panel data from Korea, Singapore, and Taiwan. The premise of this study is that public spending may contribute to economic growth in different ways. We explore this using a variety of econometric techniques. The analysis suggests that both public and private investment and public consumption have a long-term dynamic impact on economic growth in all the countries of our sample and in a panel of sample countries. The pair-wise analysis shows bidirectional causality between public investment and economic growth, and the homogeneous non-causality hypothesis suggests that non-causality results are completely homogeneous in a small sample of these mentioned countries. 
 
Publisher International Business Academics Consortium
 
Date 2015-11-12
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/msword
 
Identifier https://ijbi.org/ijbi/article/view/13
 
Source International Journal of Business and Information; Vol 2 No 1 (2007)
2520-0151
1728-8673
 
Language eng
 
Relation https://ijbi.org/ijbi/article/view/13/15
 
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