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The Role of Public Sector Investment for Economic Development in Emerging Countries: The Case of Lao PDR

Osamu Nakamura ()
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Osamu Nakamura: International University of University,

No EMS_2014_12, Working Papers from Research Institute, International University of Japan

Abstract: Recently, the Lao PDR has achieved high economic growth at around 7-8 percent annually which is very stable and robust growth in Asian economic dynamics, in particular in ASEAN. Vital public investments play an important role to develop social infrastructures and then strengthen the supply-side economy. This paper analyzes the macroeconomic structure and causes of high economic growth of Lao PDR by utilizing a macroeconometric model. According to the econometric analysis, vital public sector investment behaviors have caused to strengthen the supply-side economy and exports, which resulted in foreign capital and public investment increases through its virtuous circle.

Keywords: public sector investment; take-off stage; macroeconometric model; scenario simulation; co-integrating relationships (search for similar items in EconPapers)
JEL-codes: E17 E51 C01 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2014-09
New Economics Papers: this item is included in nep-ger, nep-mac and nep-sea
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