Is investment in Africa too high or too low? Macro- and micro-evidence

S. Devarajan, W. Easterly, H. Pack

    Research output: Contribution to journalArticle

    Abstract

    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.

    Original languageEnglish (US)
    Pages (from-to)81-108
    Number of pages28
    JournalJournal of African Economies
    Volume10
    Issue numberSUPPLEMENT 2
    StatePublished - 2001

    ASJC Scopus subject areas

    • Development
    • Economics and Econometrics

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