Economic Security, Private Investment, and Growth in Developing Countries

Hélène Poirson

No 1998/004, IMF Working Papers from International Monetary Fund

Abstract: This paper provides empirical support for the view that enhanced economic security fosters private investment and growth in developing countries. An analysis for 53 developing countries suggests that most aspects of economic security have improved since the mid-1980s; that private investment is mostly influenced by the risk of expropriation, the degree of civil liberty, and the degree of independence of the bureaucracy; and that economic growth is affected by the risk of expropriation and political terrorism in the short run, and by corruption and contract repudiation in the long run.

Keywords: WP; country; investment rate; estimate; equation; Private Investment; Growth; Political Economy; country effect; country dummy; coefficient estimate; investment project; panel estimation result; Securities; Corruption; Public investment spending; Return on investment; Western Hemisphere; Middle East; Eastern Europe; Africa (search for similar items in EconPapers)
Pages: 31
Date: 1998-01-01
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Citations: View citations in EconPapers (8)

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