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This study investigated the role of productive capacity by testing the debt-led growth hypothesis in 54 African Countries. This study is motivated by the rising nature of external debt following the fallout of the Covid-19 and the neglect of productive capacity in the debt-growth empirical...
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productivity of private capital and total factor productivity within African economies. Employing the standard production approach … factor productivity. We argue that public capital, predominantly manifesting through infrastructure, constitutes an … indispensable element for fostering growth. Fundamental to the productivity of private capital is its reliance on a sufficient stock …
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