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One of significant and, at the same time, challenging research problems in Economics is measuring the social effect of economic growth (development). Economic growth should never be treated a goal per se. It is rational provided that it brings effects such as, generally speaking, an improvement...
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, on average, Africa's low-income countries have absorbed two-thirds of (grant) aid receipts. This suggests that most of ….e. substituted domestic borrowing. Overall, these findings suggest that the macroeconomic management of aid inflows in Africa has …
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