Germany's role in financing economic development in Asia on a sustainable basis leaves much to be desired. Direct investors are still underrepresented in the region. Commercial banks have fueled speculative bubbles. Official development financing does not appear to be based on efficiency-related...

Using a sample of 70 emerging market and developing countries, we examine the political and economic factors which affect the government's decision to liberalize the domestic equity markets. We document that the levels of industrialization and financial development, the quality of investor...

This paper fills the gap in the Sudanese literature and discusses the effectiveness of Chinese aid for financing development in Sudan using new primary data at the micro level. We find that the Chinese share in total loans and grants offered to Sudan greatly increased from 17% in 1999 to 73% in...

This study investigates Korea's motivations for foreign aid allocation, analyzing panel data from over 180 countries for the last 20 years. The results show that Korea's aid allocation reflects both recipient needs and Korea's own national interests but does not consistently consider aid...

This paper has addressed the nature of the casual relationship between national savings and foreign capital in Pakistan over the period 1960 -2010 using the Granger no-causality test based on Toda and Yamamoto (1995) procedure. The results show that no causality is found from foreign capital to...

The European Union, represented by the European Commission, is the world’s biggest aid donor. The primary objective of EU development policy is the eradication of global poverty, which includes the achievement of the Millennium Development Goals (MDGs). The current EU aid architecture builds...

What determines the foreign aid effort of donor countries? We review the existing literature on donors’ aid budgets and examine which of the suggested variables robustly determine aid effort, measured as Official Development Assistance (ODA) as a share of gross national income. More...

It is often argued that social and economic investments that benefit children and poor households are not affordable or that government expenditure cuts are inevitable during adjustment periods. But there are alternatives, even in the poorest countries. This working paper offers an array of...

This paper studies the relationship between donor governments' Official Development Assistance (ODA) decisions and corruption in recipient countries over the period 1999-2010. Previous studies found that donors do not penalize recipients on the basis of corruption. Using a rich panel data set,...