Is Investment in Africa Too High or Too Low? Macro and Micro Evidence
نویسندگان
چکیده
Many analysts decry the lack of sufficient investment in Africa, implying that investment in Africa is “too low.” We find no evidence that private and public capital are productive in Africa, either in the cross-country data or in micro data from Tanzania. In this restricted sense, investment in Africa is too high rather than too low. Shantayanan Devarajan* William R. Easterly* Howard Pack** *World Bank ** University of Pennsylvania
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