This paper studies whether the poorest and most indebted countries receive aid in the form of grants rather than loans. By studying bilateral aid flows to low- and middle-income countries between 1975 and 2005, the paper provides evidence on the determinants of the grant component of aid flows....

Slow transformation of a developing economy gradually shifts surpluses and substantially reduces the importance of the agricultural sector of the economy. This has been recognized as a healthy characteristic of the capitalist economic development. Crisis of this transformation emerges when the...

Economic development theory has recognized that access to finance enables economic agents of production to exploit growth opportunities. The governments of less developed countries since world war two have been striving hard to enacting suitable policies to enable rural households in accessing...