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| Author: | Banerjee, A.V. Duflo, E. Munshi, K. |
| Title: | The (mis)allocation of capital |
| Journal: | Journal of the European Economic Association
2003 : APR-MAY, VOL. 1:2-3. p. 484-494 |
| Index terms: | Allocation Capital India |
| Language: | eng |
| Abstract: | The questions in this article are: 1) is capital allocated so that its marginal product is equated to the market interest rate? and 2) is the marginal product of capital equalized across its alternative uses? The authors try to answer using data from India, and they conclude both these standard properties fail by wide margin. |
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