Liu, Xiangbo; Zhang, Xiaomeng; Chao, Chi-Chur - In: Economic Modelling 43 (2014) C, pp. 435-438
Using an endogenous growth model, this paper examines the growth and welfare effects of foreign aid in the recipient … human capital acquisition, but with more leisure. Thus, foreign aid may not always help the growth and welfare of the … levels of growth and welfare. Along the balanced growth path, aid allocation for welfare maximization is different from that …