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Hopes for development aid remain high among Western politicians and pundits, but the evidence is depressing. Foreign aid has on average probably no effect on long-run growth. To understand the failure of many development projects, we need a deeper consideration of the failure of top-down...
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There is some evidence that IMF and World Bank adjustment lending smooths consumption for the poor, reducing the rise …. Structural adjustment - as measured by the number of adjustment loans from the IMF and World Bank - reduces the growth elasticity …
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