Castro, Rui; Clementi, Gian Luca; Macdonald, Glenn - In: Review of Economic Studies 76 (2009) 2, pp. 529-561
Poor countries have lower PPP-adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods or because they are subject to greater investment...
