Relying on a simple endogenous growth model, this paper highlights a political instability effect as a potential explanation for why foreign aid is frequently ineffective with respect to economic performance. In the present framework, the role of the state is to fund institutions allowing for...

In this paper, we examine the causal relationship between aid inflows and economic growth for Ghana during the period from 1970-2013, taking into account structural breaks. To better reflect causality, corruption and trade are included as control variables. To test for causality in the face of...

The indispensable role of electricity in expediting the process of industrialization leading to economic development, of developing nations in particular, cannot be questioned. Thus, researchers and policy makers all around the globe have endeavored themselves in identifying the contribution of...