The Dynamic Implications of Foreign Aid and Its Variability

The Dynamic Implications of Foreign Aid and Its Variability
The paper examines the effects of aid and its volatility on consumption, investment, and the structure of production in the context of an intertemporal two-sector general equilibrium model. A permanent flow of aid finances mainly consumption, a result consistent with the historical failure of aid inflows to translate into sustained growth.... READ MORE...

Publication date: June 2005
ISBN 9781451861389
$15.00

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