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...

The authors analyse the correlations between public and private investment and growth in Africa, and present a regression of growth during the years 1970-1997 on the averages of public and private investment to GDP, initial income, and population growth. Higher investment in Africa would not, by...

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...