United Nations's Economic Trends and Impacts: Foreign Aid and Development in PDF

By United Nations

ISBN-10: 1429497971

ISBN-13: 9781429497978

ISBN-10: 9211283078

ISBN-13: 9789211283075

This learn examines the monetary structures in economies of the ESCWA sector, and the position of those structures when it comes to monetary development. Such an exam goals to give a contribution to a greater figuring out of the functioning of economic markets within the zone, and endeavours to allow nations to accomplish larger progress charges than long ago. the current factor specializes in international relief and improvement .

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Extra resources for Economic Trends and Impacts: Foreign Aid and Development in the Arab Region (Economic Trends An Impacts) (no. 4)

Sample text

774-780; and C. Burnside and D. Dollar, op. cit. 35 4. The fourth group Finally, a fourth group shifts the focus of attention from experimenting with growth specifications, to exploring various ways in which aid is likely to impact on growth. In other words, the studies in this literature strand differentiate between the growth impacts of different types of aid. 82 In an influential study by the Centre for Global Development, Bhavnani, Clemens and Radelet tried to match aid flows to a realistic time period over which they could influence growth and essentially distinguished between three components of aid, namely:83 (a) emergency and humanitarian aid whose effects, if any, were expected to be immediate; (b) short-term aid, including budget and balance of payments support, investments in infrastructure, and aid for such productive sectors as agriculture, to affect growth in the short run; and (c) late-impact aid, including aid to promote democracy, health, environment and education, to affect growth only over a long period of time.

Gemmell and D. Greenaway discuss Dutch Disease problems undercutting export performance in “New evidence on the impact of foreign aid on economic growth”, CREDIT Research Paper No. , op. cit. speak of absorptive capacity constraints; and R. Lensink and H. ”, Journal of Development Studies, vol. 6 (2001), pp. 42-65. 88 The three components of ODA are disentangled according to M. Clemens, S. Radelet and R. Bhavnani, op. cit. 37 term; (b) aid that could possibly impact on growth in four years, including budget and balance of payments support, investments in infrastructure, and aid for such productive sectors as agriculture and industry; and (c) aid that affects growth only in the long term, including support for democracy, health, education and environment.

Motivated by concerns about potentially adverse effects of high aid levels, the quadratic aid term ( d 2 ) appears alongside the stand-alone aid variable. The aid-squared term reflects decreasing marginal returns to aid so that a positive coefficient ( ρ ) for that term implies that each new dollar of aid has a smaller impact on growth than the preceding dollar. 87 Moreover, all these causal devises can be interpreted as means through which economic policy impacts on aid effectiveness, namely: the Dutch disease reflects poor management of the domestic fiscal and monetary policies and the foreign exchange-rate policy; and capacity constraints are closely related to macroeconomic governance.

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Economic Trends and Impacts: Foreign Aid and Development in the Arab Region (Economic Trends An Impacts) (no. 4) by United Nations


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