, imports, and per capita GDP growth to a “global” aid shock. We find that a global aid shock can affect exports, imports, and … ambiguous results in the existing literature. For most countries in the sample, when aid reduces exports and imports, it also … reduces growth; and, when aid increases exports and imports, it also increases growth. This evidence is consistent with a DD …

would also facilitate a reduction in inflation, which would moderate gold imports and favorably impact real exchange rate …

, particularly on exports. We then go on to 'augment' the standard gravity model with relevant variables from the World Bank …