This article provides a survey of the aid budget literature and examines the determinants of the development aid efforts of 22 Development Assistance Committee (DAC) members over the 1976–2011 period. In fixed effects regressions, we identify aid inertia, per-capita GDP, the creation of an...

Over time, the international development community has advocated various development paradigms, but countries following these paradigms have often performed poorly. We provide an explanation for this poor performance. In our model, the political leader of a developing country chooses a policy...

This article analyzes the consequences on capital accumulation and environmental quality of environmental policies financed by public debt. A public sector of pollution abatement is financed by a tax or by public debt. We show that if the initial capital stock is high enough, the economy...