Marc, Lukasz - Tinbergen Instituut - 2012
This study examines the fungibility of foreign aid and makes three contributions to the existing literature. Firstly …, fungibility of aid at the aggregate level is reexamined on a richer panel dataset of 91 developing countries for 1980-2009, taking … run, around 50 % of aid increases government expenditures, although results are not stable. High levels of fungibility …