Economic Security, Private Investment, and Growth in Developing Countries

31 Pages Posted: 15 Feb 2006

See all articles by Hélène Poirson

Hélène Poirson

International Monetary Fund (IMF) - Research Department

Date Written: January 1998

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: Private Investment, Growth, Political Economy

JEL Classification: O40

Suggested Citation

Poirson Ward, Helene, Economic Security, Private Investment, and Growth in Developing Countries (January 1998). IMF Working Paper No. 98/4, Available at SSRN: https://ssrn.com/abstract=882216

Helene Poirson Ward (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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