Rebucci, Alessandro; Kang, Joong Shik; Prati, Alessandro - Inter-American Development Bank - 2010
heterogeneous panel vector-autoregression model identified through factor analysis, to study the dynamic response of exports …, imports, and per capita GDP growth to a "global" aid shock (the common component of individual country aid-to-GDP ratios). We … find that the estimated cumulative resposive of exports and per capita GDP growth to a global aid shock are strongly …