Assessing the business environment in 30 sub-Saharan African countries, El-hadj Bah and Lei Fang find that the poor business environment can account for 67 percent of the variation in income per worker in those countries relative to the United States.
Federal Reserve Bank of Atlanta Working Paper Series, No. 2011-14
El-hadj Bah and Lei Fang, Impact of the Business Environment on Output and Productivity in Africa
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Source: AtlantaFed E-Mail News Nov. 28, 2011