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We examine the effects of aid on growth-- in cross-sectional and panel data--after correcting for the bias that aid typically goes to poorer countries, or to countries after poor performance. Even after this correction, we find little robust evidence of a positive (or negative) relationship...
Persistent link: https://www.econbiz.de/10005825602
We examine one of the most important and intriguing puzzles in economics: why it is so hard to find a robust effect of aid on the long-term growth of poor countries, even those with good policies. We look for a possible offset to the beneficial effects of aid, using a methodology that exploits...
Persistent link: https://www.econbiz.de/10005825944
India has followed an idiosyncratic pattern of development, certainly compared with other fast-growing Asian economies. While the importance of services rather than manufacturing is widely noted, within manufacturing India has emphasized skill-intensive rather than laborintensive manufacturing,...
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Why it is so hard to find a robust effect of aid on the long-term growth of poor countries, even those with good policies. A possible offset to the beneficial effects of aid is examined using a methodology that exploits both cross-country and within-country variation.
Persistent link: https://www.econbiz.de/10011133176
The authors examine the effects of aid on the growth of manufacturing using a methodology that exploits the variation within countries and across manufacturing sectors and that corrects for possible reverse causality. They find that aid inflows have systematic adverse effects on a...
Persistent link: https://www.econbiz.de/10011133216
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We document the recent phenomenon of "uphill" flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current...
Persistent link: https://www.econbiz.de/10005088625
Nonindustrial countries that have relied more on foreign finance have not grown faster in the long run as standard theoretical models predict. The reason may lie in these countries’ limited ability to absorb foreign capital, especially because their financial systems have difficulty allocating...
Persistent link: https://www.econbiz.de/10005021976