Economic Growth and the Role of Private Sector: Some Empirical
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.
Year of publication: |
1992
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Authors: | Alsadek, Jihad A. ; Darrat, Ali F. ; Suliman, Osman |
Published in: |
Economia Internazionale / International Economics. - Camera di Commercio di Genova. - Vol. 45.1992, 3-4, p. 277-288
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Publisher: |
Camera di Commercio di Genova |
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