The volume of foreign aid has increased during the last four decades, albeit with interruptions in certain years. Over time, the major recipients have changed: while the share of aid to Asia has diminished since the 1980s, that destined for sub-Saharan Africa has grown. There is some evidence...

This paper uses a unique database covering 44 countries in sub-Saharan Africa between 2000 and 2007 to study the determinants of the allocation and composition of private capital flows across countries, as well as channels through which these flows could affect growth. In the sample, the degree...