Low Investment Is Not the Constraint on African Development
- 1 April 2003
- journal article
- Published by University of Chicago Press in Economic Development and Cultural Change
- Vol. 51 (3) , 547-571
- https://doi.org/10.1086/368154
Abstract
While many analysts decry the lack of sufficient investment in Africa, we find no evidence that private and public investment are productive, either in Africa as a whole (unless Botswana is included in the sample), or in the manufacturing sector in Tanzania. In this restricted sense, inadequate investment is not the major obstacle to African economic development.Keywords
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