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sector borrowing requirements through the elimination of unnecessary subsidies. Microeconomic theory tells us that incentive …
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Theory predicts that a nation''s stochastic intertemporal budget constraint is satisfied if net exports (NX) and net …
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This paper examines fungibility as a possible explanation for the "missing link" between foreign aid and economic growth. The composition of aid plays a crucial role in determining the composition of government spending and, consequently, the magnitude of fungibility and its impact on growth....
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