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Digital Subscriptions > Development Finance > Issue 5 > Rethinking development finance for Africa

Rethinking development finance for Africa

Professor of Economics and Public Policy, University of Oxford

The conventional narrative as to why Africa needs to attract foreign investment has been that the region is short of capital, while aid alone is too limited to be able to fill the gap. But this narrative misses the fundamental reason why attracting foreign business is so important: Africa is chronically short not of capital but of firms.

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