An importance source of finance for poorer economies, is foreign aid; this paper examines some controversies surrounding its provision. The advanced economies have provided hundreds of billions of dollars in aid to the developing world over the last several decades; although this has done much...

Developing economies share both microeconomic and macroeconomic characteristics which are often unique relative to their more developed counterparts. Indeed, many authors (e.g. Parente and Prescott 2000) have emphasized the role of institutional frictions within developing nations as a major...

"Although adequate country capacity is considered to be one of the critical missing factors in development outcomes, a lack of understanding of how capacity contributes to economic development and of how to account for the contribution of capacity development to economic growth remains a...

The World Bank's legal and judicial reforms programs have expanded considerably since it began to address the issue of governance in the early 1990s. Initially the Bank focused on legal reforms for inducing private investment. Currently, its legal assistance extends to include the criminal...

The aim of this article is to study the relations between social capital (SC) and the result of the efforts made by poor groups to reduce their poverty and social exclusion. To this end, SC is defined as the ability to obtain benefits from networks of social relations. This definition is then...

The article criticizes the World Bank as overy optimistic concerning its ability to raise the effectiveness of aid by concentrating aid on countries with "good" policies. It is shown that aid flows to the main recipient regions yielded the highest correlation to growth when their magnitudes...