Foreign aid inflows have grown significantly in the post-war period. Many studies have tried to assess the effectiveness of aid at the micro- and macro-level. While micro-evaluations have found that in most cases aid "works", those at the macro-level are ambiguous. This paper assesses the impact...

There is evidence that specialization in primary product exports reduces growth. Possible explanations include a trend deterioration in the terms of trade associated with falls in the relative price of primary products, and the adverse impact of excessive export price volatility on investment...