February 2019: New VoxEU Column – The public and private marginal product of capital
Matt Lowe, Chris Papageorgiou, Fidel Pérez Sebastián 20 February 2019 Capital doesn’t flow to developing countries as much as economic theory suggests it should, and this might imply that capital is misallocated across nations. This column argues that once public capital is removed from the equation, the evidence shows that private capital is allocated remarkably[…]