This paper econometrically examines the impact of aid on the well-being of population sub-groups within 48 developing countries. This is a radical departure from previous empirical research of aid effectiveness at the country level, which has looked mainly at the relationship between aid and...

The median developing country has had significantly higher inflation than the median advanced country since the early 1980s. A model is presented in which a developing country may reduce inflationary expectations by pegging its exchange rate to the currency of an advanced country (or a basket of...