This paper presents stylised facts about development aid and capital flows to developing countries. It compares their volumes and volatilities and finds that foreign aid is not the major source of finance for these countries any more, though not for all regions. The expansion of private flows...

This volume tests the relevance and usefulness of guarantees to public and private actors in developing countries, especially for funding development projects. The presence of guarantees from multilateral or bilateral agencies can encourage financial flows either to increase, or to go where they...

With official development assistance (ODA) set to rise as countries strive to meet the Millennium Development Goals (MDGs), aid effectiveness remains an important area of development policy. An increasing number of studies support the notion that ODA can contribute to growth in a nonlinear...