Download This PaperLow Investment is Not the Constraint on African Development
42 Pages Posted: 18 Mar 2008
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Low Investment is Not the Constraint on African Development
Low Investment is Not the Constraint on African Development
Date Written: October 2002
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: Africa, economic development, investment
Suggested Citation: Suggested Citation
William Easterly
New York University - Department of Economics ( email )
269 Mercer Street
New York, NY 10003
United States
Howard Pack
University of Pennsylvania - Management Department ( email )
The Wharton School
Philadelphia, PA 19104-6370
United States
University of Pennsylvania - Business & Public Policy Department ( email )
3641 Locust Walk
Philadelphia, PA 19104-6372
United States
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