The COVID-19 pandemic represents an unprecedented global crisis. The task for economic policy is to help keep people alive, enterprises afloat, and households out of poverty. The pandemic has macroeconomic dimensions. First, it affects macroeconomic stability and growth. Second, the tools of...

To meet development objectives, aid recipients and their donor partners need to effectively manage the macroeconomic effects of aid. Aid can improve the economy's supply-side and raise growth. But if the macroeconomic impact of aid is not managed well it can distort and sometimes undermine...

Following Mozambique’s economic collapse in 1986, the country began a wide-ranging process of reform, with the support of the international community. The diagnosis was of an economy that failed to maintain monetary control, consumed beyond its means, focused production excessively on...

The micro-macro paradox has been revived. Despite broadly positive evaluations at the micro and meso-levels, recent literature has turned decidedly pessimistic with respect to the ability of foreign aid to foster economic growth. Policy implications, such as the complete cessation of aid to...