Public spending often increases at the end of fiscal years. This is undesirable because late spending tends to be inefficient. The causes for these spending spikes are however poorly understood. This paper offers a novel identification strategy that relies on the historic variation in countries'...

With tied aid credits donors aim at boosting the international competitiveness of domestic enterprises while simultaneously contributing to development in recipient countries. Though regulated through the Arrangement on Officially Supported Export Credits, tied aid credits claim a place amongst...