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

Authors
Devarajan, S Easterly, W Pack, H
Citation
S. Devarajan et al., Is investment in Africa too high or too low? Macro- and micro-evidence, J AFR ECON, 10, 2001, pp. 81-108
Citations number
34
Categorie Soggetti
Economics
Journal title
JOURNAL OF AFRICAN ECONOMIES
ISSN journal
09638024 → ACNP
Volume
10
Year of publication
2001
Supplement
2
Pages
81 - 108
Database
ISI
SICI code
0963-8024(200109)10:<81:IIIATH>2.0.ZU;2-N
Abstract
Many analysts decry the lack of sufficient investment in Africa, implying t hat 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 Afr ica is too high rather than too low.