This paper takes a fresh look at three issues in the aid effectiveness debate. First, we assess the theoretical case for foreign aid. Using an endogenous growth version of the standard overlapping generations model, we show that aid can be an effective policy tool in spurring growth in poor...

For a growing number of countries in Africa the discovery and exploitation of natural resources is a great opportunity, but one accompanied by considerable risks. This book presents research on how to better manage the revenues and opportunities associated with natural resources.