This paper confirms recent evidence of a positive impact of aid on growth and widens the scope of evaluation to a range … of outcomes including proximate sources of growth (e.g., physical and human capital), indicators of social welfare (e … coherent and favorable pattern of results emerges. Aid has over the past forty years stimulated growth, promoted structural …

This paper examines fungibility as a possible explanation for the missing link between foreign aid and economic growth … magnitude of fungibility and its impact on growth. Embedding fungibility as an equilibrium outcome in an endogenous growth … have on growth. The main predictions of the model are tested using a panel dataset of 67 countries for 1972-2000. We find …

This paper examines the link between foreign aid, economic growth, and welfare in a small open economy. External …

Debt relief is unlikely to stimulate investment and growth in the world's highly indebted poor countries (HIPCs). This … is because the HIPCs do not suffer from debt overhang. The principal obstacle to investment and growth in the world …

This paper examines the link between foreign aid, economic growth, and welfare in a small open economy. External …

literature has turned decidedly pessimistic with respect to the ability of foreign aid to foster economic growth. Policy … implications, such as the complete cessation of aid to Africa, are being drawn on the basis of fragile evidence. This paper first … assesses the aid-growth literature with a focus on recent contributions. The aid-growth literature is then framed, for the …

Controversy over the aggregate impact of foreign aid has focused on reduced form estimates of the aid-growth link. The … causal chain, through which aid affects developmental outcomes including growth, has received much less attention. We address … impacts on growth through key intermediate outcomes. A coherent picture emerges: aid stimulates growth and reduces poverty …