Economic Growth and the Role of Private Sector: Some Empirical

Jihad A. Alsadek, Ali F. Darrat () and Osman Suliman
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Jihad A. Alsadek: United States Environmental Protection Agency, Postal: Ariel Rios Building, 1200 Pennsylvania Avenue, N.W., Washington, DC 20460, USA, http://www.epa.gov/
Ali F. Darrat: Department of Economics and Finance College of Business Louisiana Tech University, Postal: P. O. Box 10318, Ruston, LA 71272, USA, http://www.latech.edu/

Economia Internazionale / International Economics, 1992, vol. 45, issue 3-4, 277-288

Abstract: This paper assesses the economic effects of privatization in Mexico. Multivariate Granger-causality testing indicates bidirectional causality between the two main variables. Specifically, expansion in the private sector promotes economic development supporting privatization as an engine of growth. Moreover, higher economic growth caused negative changes in the size of the private sector, a finding consistent with Wagner’s Law. The results further imply the existence of a Friedman-type upward sloping Phillips curve casting doubts on the usefulness of inflationary policies for economic development in Mexico.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0449

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