JAN 13, 2016
Since the 1970s, the development strategies of policymakers have been addressed to prioritize private markets, human capital, and reforms in governance and institution. Today the countries with public investment are still growing, despite global economic crisis: Ethiopia’s economy has grown at an average annual rate exceeding 10% since 2004, without the benefit of resources and raw materials. Even the advanced economies of North America and Western Europe are getting maximum results from the increase in national public expenditure, including the growth of demand, employment and investment in research, particularly in green technologies.
Read more at http://www.project-syndicate.org/commentary/public-infrastructure-investment-sustained-growth-by-dani-rodrik-2016-01