This paper shows that donors that maximize relative aid impact spread their budgets across many recipient countries in a unique Nash equilibrium, explaining aid fragmentation. This equilibrium may be inefficient even without fixed costs, and the inefficiency increases in the equality of donors'...

We investigate whether democracy aid flows, which are directed towards the democratization of recipients by covering democracy-related programs and government and civil society activities, affect the future political regime of recipient countries. We introduce a multinomial multivariate logit...

The rapid growth of trust funds at multilateral development organizations has not received much attention in the academic literature. We consider the choice by sovereign donors among various types of multilaterally channeled funds. Taking the example of the World Bank, we distinguish between...

Foreign aid flows have increased considerably during the last decades targeting, apart from the economic development of recipient countries, several goals related to their democratization process. In this paper we investigate whether aggregate aid has a differential impact on the future...

We investigate whether democratic aid flows, which are directed toward the democratization of recipients by covering democracy-related programs and government and civil society activities, affect the future political regime of recipient countries. We introduce a multinomial multivariate logit...

This paper investigates whether the gender composition of national legislatures in donor countries impacts the level, composition, and pattern of foreign aid. We provide evidence that the election of female legislators leads countries to increase aid both in total and as a percentage of GDP....