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Investment, Capital Accumulation, and Growth: Some Evidence from The Gambia 1964-98

Overview This paper considers the potential variables that have determined economic growth in The Gambia during 1964-98. The results indicate that The Gambia's aggregate production function exhibits increasing returns to scale, thus supporting the endogenous growth-type model. The impact of private investment - and thus private capital accumulation - on output is large and significant. Furthermore, increases in public investment boost output substantially. Finally, the effects associated with human capital accumulation are positive and statistically significant. The paper also estimates a series on total factor productivity growth that indicates that The Gambia was able to use its resources more efficiently.

Further White Paper Details
Publisher	International Monetary Fund	File Format	PDF, requires Acrobat Rdr 5
Date Published	August 1999	Downloads	4
Format	White Papers
Topics	Economic Modeling

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