Many developing market economies were strongly distorted during the 1960s and 1970s by fashionable policies to force industrialisation and they experienced growth collapses when exposed to the price shocks of the 1970s. In this context, the centrally planned economies were even more highly...

This paper conceptualises foreign aid as a geopolitical form of rent in order to help distinguish the conditions under which aid is detrimental to sustained economic recovery from those where it is beneficial. Foreign aid shares with natural resource rent and contrived (i.e., government...

Rents tend to be relatively high in developing countries and also very fungible, so that differences in the scale of the rent and in its distribution among economic agents profoundly affect the nature of the political state and the development trajectory. This paper identifies two basic...