Collier, Paul; Goderis, Benedikt - Department of Economics, Oxford University - 2007
This paper investigates the role of aid in mitigating the adverse effects of commodity export price shocks on growth in … the exchange rate substantially lower the adverse growth effect of shocks. While the mitigating effect of aid is … commodity-dependent countries. Using a large cross-country dataset, we find that negative shocks matter for short-term growth …