Volatility of Development Aid: An Update
Abstract
The positive impact of foreign aid is limited by the erratic behavior of aid flows. The introduction in 1999 of various initiatives anchored in IMF Poverty Reduction Strategy Papers aimed at strengthening coordination among donors, improving the design of financial support programs, and improving domestic records of policy implementation should have led to an improvement in the time series properties of aid flows. We find no evidence of any fundamental changes in the way aid has been delivered during 2000–03. If anything, aid volatility has worsened somewhat and the information value of long-term lending commitments has declined. We take these results to mean that the main causes of the volatility and unpredictability of aid, and the broader issue of macroeconomic instability in low-income countries, may not have been addressed in a systematic manner by the donor community. IMF Staff Papers (2007) 54, 727–739. doi:10.1057/palgrave.imfsp.9450023Download Info
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Bibliographic Info
Article provided by Palgrave Macmillan in its journal IMF Staff Papers.
Volume (Year): 54 (2007)
Issue (Month): 4 (November)
Pages: 727-739
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Christopher Kilby, 2011.
"Informal influence in the Asian Development Bank,"
The Review of International Organizations,
Springer, vol. 6(3), pages 223-257, September.
- Kilby, Christopher, 2010. "Informal influence in the Asian Development Bank," Villanova School of Business Department of Economics and Statistics Working Paper Series 13, Villanova School of Business Department of Economics and Statistics.
- Bah, El-hadj M. & Ward, Jeremy, 2011. "Effectiveness of foreign aid in Small Island Developing States," MPRA Paper 32062, University Library of Munich, Germany.
- Kilby, Christopher, 2010.
"An empirical assessment of informal influence in the World Bank,"
Villanova School of Business Department of Economics and Statistics Working Paper Series
9, Villanova School of Business Department of Economics and Statistics.
- Christopher Kilby, 2013. "An Empirical Assessment of Informal Influence in the World Bank," Economic Development and Cultural Change, University of Chicago Press, vol. 61(2), pages 431 - 464.
- Pierre-Richard Agénor & Joshua Aizenman, 2007.
"Aid Volatility and Poverty Traps,"
NBER Working Papers
13400, National Bureau of Economic Research, Inc.
- Agénor, Pierre-Richard & Aizenman, Joshua, 2010. "Aid volatility and poverty traps," Journal of Development Economics, Elsevier, vol. 91(1), pages 1-7, January.
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