We study capital misallocation within and across 10 African countries using the World Bank Enterprise Surveys. First … product of capital (MPK), implying that countries could produce significantly more with the same aggregate capital stock if … capital were allocated optimally. Such variation differs from country to country with some African countries (success stories …

choices are affected by such frictions face higher borrowing costs than firms with ready access to capital markets. As a …

capital market channel the right amount of money to each firm? That is, does the market get across-firm allocations right, so … internal capital markets channel the right amount of money to individual projects within firms? That is, does the internal … capital budgeting process get within-firm allocations right, so that the marginal return to investment in firm i's division A …

We show that foreign capital liberalization reduces capital misallocation and increases aggregate productivity in India …. The staggered liberalization of access to foreign capital across disaggregated industries allows us to identify changes in … firms with initially high marginal revenue products of capital (MRPK), liberalization increases revenues by 25%, physical …

Korea and Taiwan secured land taxation and enabled farmers to obtain bank loans for capital improvements, principally …

systems. After showing that the intensity with which people were enslaved and exported from Africa during the 1400 – 1900 …