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Published in:
1999 | OriginalPaper | Chapter
The Impact of Liberalisation on Private Investment
Authors : Paul Collier, Jan Willem Gunning
Published in: African Economies in Transition
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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In many contexts extra investment is seen as socially more desirable than extra consumption, while private investment is seen as more productive than public investment. Since private investment has invariably been very scarce in socialist Africa, it is therefore increasingly becoming a natural objective of government policy. This paper argues that the private investment response is likely to be highly policy-dependent, and that in many circumstances it will be socially sub-optimal.