This paper discusses how the poor-country debt crisis arose as a result of low growth, uncoordinated donor-lending and the absence of a market that could mark down the debt's value. It assesses the state of play with the Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt...

The Millennium Development Goals (MDGs) have lofty expectations regarding the impact of official development aid. Are these expectations valid? This paper surveys the literature on aid and growth. It finds that practically all aid studies since the late 1990s conclude that aid increases economic...

The Millennium Development Goals (MDGs) have lofty expectations regarding the impact of official development aid. Are these expectations valid? This paper surveys the literature on aid and growth. It finds that practically all aid studies since the late 1990s conclude that aid increases economic...