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Publications (26)
Policy Brief
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External development finance consists of those foreign sources of funds that promote or at least have the potential to promote development in the destination countries if delivered in the appropriate form. This rather broad definition qualifies all forms of external finance, and the quality and...
Working Paper
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The paper examines the main issues involved in translating domestic bankruptcy procedures to the sovereign context. It considers some of the principles by which domestic bankruptcy procedures operate, and the extent to which they apply to international lending. Two recent proposals are considered in...
Working Paper
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– Issues, Approaches and Results
There is a widespread view that political criteria have received less emphasis in aid allocation since the end of the cold war, with a greater share of aid subsequently being based on developmental criteria. An observed increase in aid effectiveness is attributed to this shift. A reasonably large...
Working Paper
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– Conceptual Issues and Empirical Estimates
This paper is an attempt to rectify some of the problems that characterize most earlier studies that seek to explain private capital flows to developing countries or, at least, to examine the subject from a different and complementary perspective. To accomplish this, we propose a model framework...
Working Paper
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The study seeks to identify donor-specific factors that cause donors to delay aid disbursement, and to apply a double standard in dealing with the non-compliance of a recipient with regard to aid conditionalities, a practice that promotes uncertainty in the receipt of aid. Annual panel data over...
Working Paper
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– Approaches, Issues and Consequences
Studies of the inter-recipient allocation of aid may be categorized threefold. First, there are those which attempt to explain the observed allocation of aid. Second, there are those which seek to describe or evaluate the allocation of aid against normative criteria. Third, there are those which...
Working Paper
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– Determining Factors and Revealed Burden Sharing
The paper reports an empirical study of the factors affecting burden sharing among OECD’s 22 DAC members in ‘bankrolling’ the multilateral aid agencies. These are the UN agencies, World Bank’s IDA and non-IDA programmes, regional development banks, European Community, and other multilateral agencies...
Working Paper
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This paper models the inter-temporal allocation of foreign development aid to Papua New Guinea (PNG). A formal theoretical model of aid allocation is developed, in which aid to any one country is determined jointly with aid to all other recipient countries. This is recognized in the econometric...
Working Paper
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– Panoramic Issues and Empirical Evidence
The paper examines a wide range of issues relating to the mix between loans and grants as well as the degree of concessionality of loans. A number of empirical tests are carried out based on annual panel data over 1970 to 1999 for 22 donor countries and 72 recipient countries. Based on the tests, we...
Working Paper
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The paper empirically explores the factors that could have accounted for the generally declining aid effort (defined as the generosity ratio, or the share of GDP given as aid) of bilateral donors over the last three decades. Annual panel data over 1970-2000 period for the 22 DAC members are used in...
Working Paper
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– Analysis and Description of Structure and Trends
The paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channeled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the distribution of foreign resources classified...
Working Paper
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– A Critical Reappraisal
The donor community has enthusiastically embraced the concept of microfinance as a promising mechanism to attain the objectives of poverty alleviation and microenterprise development. Amid the high expectation, a myth has been inadvertently created that they could be the ultimate solution to poverty...
Working Paper
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– A Three-dimensional Panel Analysis
The present paper adds to the already large existing literature on aid distribution as it runs an equation on bilateral aid allocation on a very rich dataset, covering 20 years (1980-99), 22 donors and 137 recipients, which permits a three-dimensional panel study (recipient-year-donor) and allows...
Working Paper
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This paper reviews the role of the multilateral aid agencies in the delivery of aid. The role of these institutions is as old as the debate on the role of aid in economic development. Aid is effective in a good policy environment. However, effective aid delivery is equally crucial. This is why the...
Working Paper
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– The Case of IFC
The paper examines the role of the multinational development banks in private sector financing with a particular focus on the International Finance Corporation (IFC). The aim of the paper is to bring to focus, in an analytical manner, the past activities and operations as well as the problems and...
Working Paper
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The study examines the official bilateral donors’ current aid practice for private sector development (PSD). In particular, it reviews the donors’ major instruments and channels for aid delivery and the extent to which official flows have catalytic effects on private direct foreign capital flows...
Displaying 16 of 26 results