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Publications (22)
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– Some Unsubtle Propositions
This paper re-asserts the importance of certain old-fashioned questions relating to international aid: what is the quantum of aid available in relation to the need for it? How may patterns of allocation, at both the dispensing and receiving ends of aid, be determined so as to take account of both...
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– An Empirical Analysis
The paper performs aid allocation analysis using OECD-DAC data covering 20 aid donors and 176 recipients over the period 1980-2003. We improve upon earlier work in this area by employing inter alia the variable ‘past outcome’ measuring aid effectiveness in order to link together aid allocation and...
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This paper analyses the decentralization of decisionmaking in aid-giving in a theoretical rent-seeking framework. In this analysis the root donor establishes a necessary criterion for potential recipients: good governance. The potential recipients compete in hierarchal contests for funds. The paper...
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– A Fresh Look
The paper contributes to the empirics of aid and growth by taking a fresh look at the aid-policies-growth nexus emanating from the very influential but also debatable paper on the subject by Burnside and Dollar: ‘Aid, Policies and Growth’. We employ three different datasets (including the one used...
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Much public discussion about foreign aid has focused on whether and how to increase its quantity. But recently aid quality has come to the fore, by which is meant the efficiency of the aid delivery process. This paper focuses on one process problem, the proliferation of aid projects and the...
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The paper builds on recent empirical evidence on the importance of strategic donor behaviour in aid allocation in order to develop a theoretical model where donor pressure on a recipient for influencing the aid disbursement of a multilateral institution is endogenously determined. Our game-theoretic...
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– 50 Years of Controversy Over the Macroeconomic Impact of Development Aid
This paper surveys 50 years of empirical research on the macroeconomic impact of aid, looking mainly at studies examining the link between aid and growth. It argues that studies dating until the late 1990s produced either contradictory or inconclusive results. Aid either worked, or it didn’t...
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– Evidence and Global Policy Agendas
Understanding the development effects of official aid is crucial to building a better bridge between research and policy. This paper reviews the current evidence regarding the impact of aid on growth and poverty reduction, and develops a new narrative. In the light of this narrative, the paper then...
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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...
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Issues related to the volatility of aid flows are now becoming crucial in view of their relevance to the achievement of the Millennium Development Goals. The paper examines aid volatility using data for 66 aid recipients over the period 1973-2002. We improve upon earlier work in this important area...
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– A West African Example
We construct a structural macroeconometric model for member states of the West African Economic and Monetary Union. Fitting this model to annual and quarterly time series data allows us to identify the channels through which macroeconomic innovation in one country impact on other countries in the...
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In this paper we fit a VECM in output and prices to data from ten countries of the CFA Franc Zone. This model allows for various cross-country interactions in both the short run and the long run. The VECM parameters are used to estimate persistence profiles of different kinds, in order to identify...
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– Estimating Interest Rate Rules for the BCEAO
This paper examines to what extent the central bank for the West African Economic and Monetary Union (BCEAO) has used interest rate policy in response to domestic economic developments. We show that while in the long run the BCEAO matches changes in French (Eurozone) interest rates one for one, in...
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This paper brings out that poverty increased massively in the wake of the 1994 devaluation of the CFA franc, despite a significant recovery of economic growth. Although this increase affected all the social groups, it fell mostly on the urban poor. An analytical model is presented, which explains...
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L’objectif de cet étude est d’analyser l’état de la convergence dans l’UEMOA, de 1980 à 2001, à travers les critères de convergence définis dans son pacte de convergence. On utilise l’approche méthodologique de Haldane et Hall (1991) pour appréhender la dynamique des variables économiques du pacte...
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– Evidence from West Africa
In this paper we use data from 17 African nations in order to investigate the hypothesis that monetary union – represented in this case by the CFA Franc Zone – augments the extent of macroeconomic integration. The paper covers a number of dimensions of integration including the volume of bilateral...
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