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Working paper

Is investment in Africa low despite high profits?

Abstract:

To my knowledge this study undertakes the first comprehensive and systematic empirical test of the hypothesis that while returns to invested capital in Sub‐Saharan Africa are high compared to select Asian and South American markets, investment rates are low. I investigate three sources: detailed World Bank surveys of 6,500 manufacturing firms, a new panel constructed from financial statements of 6,900 quoted industrials and performance indicators of emerging stock markets. I find returns to b...

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Publication status:
Published
Peer review status:
Not peer reviewed

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Institution:
University of Oxford
Division:
SSD
Department:
International Development
Oxford college:
Magdalen College
Role:
Author
Series:
CSAE working paper series
Place of publication:
http://www.csae.ox.ac.uk/workingpapers/main-wps.html
Publication date:
2008-01-01
Language:
English
Keywords:
Subjects:
UUID:
uuid:4554a673-c330-4336-9edd-6ad44a6a41fd
Local pid:
ora:2536
Deposit date:
2009-01-23

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