University of Piraeus. International Strategic Management Association
Abstract
The paper looks at the growth and investment performance of six Asian
countries - Bangladesh, India, Indonesia, Malaysia, Pakistan and Thailand. Having
discussed the time series properties of the public and private investment series and
the GDP growth rate, the paper goes on to use the concept of Granger-block
causality in a three-variable VAR in the presence of possible unit roots. The
analysis is based on the lag-augmented VAR concept developed by Toda and
Yamamoto (1995). We find that no single relationship holds in all countries and that
the relationship between public and private investment varies from country to
country.peer-reviewe