The (Mis)Allocation of Capital
利用印度数据检验资本配置是否使边际产品等于市场利率，以及边际产品是否在不同用途间均等化，发现这两个标准性质均严重不成立。
Is capital allocated so that its marginal product is equated to the market interest rate? Is the marginal product of capital equalized across its alternative uses? This paper attempts to answer both of these questions using data from India, and concludes that both these standard properties fail by a wide margin.