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The Return to Capital in Ghana

Christopher R. Udry
Yale University - Economic Growth Center

Santosh Anagol
Yale University - Economic Growth Center

March 2006

Yale University Economic Growth Center Discussion Paper No. 932

Abstract:
We show that the real return to capital in Ghana's informal sector is high. For farmers, we find annual returns ranging from 205-350% in the new technology of pineapple cultivation, and 30-50% in well-established food crop cultivation. We also examine the relative prices of durable goods of varying durability, and estimate a lower bound to the opportunity cost of capital of 60%.

Keywords: Capital, durable goods, credit markets

JEL Classifications: O12, O16, D24

Working Paper Series

Date posted: March 23, 2006 ; Last revised: July 22, 2006

Suggested Citation

Udry, Christopher R. and Anagol, Santosh, The Return to Capital in Ghana (March 2006). Yale University Economic Growth Center Discussion Paper No. 932. Available at SSRN: http://ssrn.com/abstract=893023

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Contact Information

Christopher R. Udry (Contact Author) Yale University - Economic Growth Center ( email ) Box 208269 New Haven, CT 06520-8269 United States
Santosh Anagol Yale University - Economic Growth Center ( email ) Box 208269 New Haven, CT 06520-8269 United States