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Foreign aid and the public sector : a simulation approach

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  • Gupta, Kanhaya L.
  • Lensink, Robert

    (Groningen University)

Abstract

The paper considers a (static) portfolio system that satisfies adding-up contraints and the gross substitution theorem. The paper shows the relationship of the two conditions to the weak dominant diagonal property of the matrix of interest rate elasticities. This enables to investigate the impact of simultaneous changes in interest rates on the asset demands.

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File URL: http://irs.ub.rug.nl/ppn/143813420
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Bibliographic Info

Paper provided by University of Groningen, Research Institute SOM (Systems, Organisations and Management) in its series Research Report with number 95D21.

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Date of creation: 1995
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Handle: RePEc:dgr:rugsom:95d21

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References

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  1. Purvis, Douglas D, 1978. "Dynamic Models of Portfolio Behavior: More on Pitfalls in Financial Model Building," American Economic Review, American Economic Association, vol. 68(3), pages 403-09, June.
  2. White, Howard, 1994. "Foreign aid, taxes and public investment: A further comment," Journal of Development Economics, Elsevier, vol. 45(1), pages 155-163, October.
  3. Khan, Haider Ali & Hoshino, Eiichi, 1992. "Impact of foreign aid on the fiscal behavior of LDC governments," World Development, Elsevier, vol. 20(10), pages 1481-1488, October.
  4. Pack, Howard & Pack, Janet Rothenberg, 1993. "Foreign Aid and the Question of Fungibility," The Review of Economics and Statistics, MIT Press, vol. 75(2), pages 258-65, May.
  5. Pack, Howard & Pack, Janet Rothenberg, 1990. "Is Foreign Aid Fungible? The Case of Indonesia," Economic Journal, Royal Economic Society, vol. 100(399), pages 188-94, March.
  6. Ogawa Kazuo & Saito Mitsuo & Tokutsu Ichiro, 1994. "The Flow-of-Funds Equations of Japanese Nonfinancial Firms," Journal of the Japanese and International Economies, Elsevier, vol. 8(1), pages 72-105, March.
  7. Binh, Tran-Nam & McGillivray, Mark, 1993. "Foreign aid, taxes and public investment A comment," Journal of Development Economics, Elsevier, vol. 41(1), pages 173-176, June.
  8. Mosley, Paul & Hudson, John & Horrell, Sara, 1987. "Aid, the Public Sector and the Market in Less Developed Countries," Economic Journal, Royal Economic Society, vol. 97(387), pages 616-41, September.
  9. Gang, Ira N. & Khan, Haider Ali, 1994. "Reply to White, 'foreign aid, taxes and public investment: A further comment'," Journal of Development Economics, Elsevier, vol. 45(1), pages 165-167, October.
  10. Morisset, Jacques, 1993. "Does financial liberalization really improve private investment in developing countries?," Journal of Development Economics, Elsevier, vol. 40(1), pages 133-150, February.
  11. Pissarides, Christopher A, 1978. "Liquidity Considerations in the Theory of Consumption," The Quarterly Journal of Economics, MIT Press, vol. 92(2), pages 279-96, May.
  12. White, Howard & Luttik, Joke & DEC, 1994. "The countrywide effects of aid," Policy Research Working Paper Series 1337, The World Bank.
  13. Blinder, Alan S. & Solow, Robert M., 1973. "Does fiscal policy matter?," Journal of Public Economics, Elsevier, vol. 2(4), pages 319-337.
  14. Heller, Peter S, 1975. "A Model of Public Fiscal Behavior in Developing Countries: Aid, Investment, and Taxation," American Economic Review, American Economic Association, vol. 65(3), pages 429-45, June.
  15. Gang, Ira N., 1993. "Reply to Tran-Nam Binh and Mark McGillivray, 'foreign aid, taxes and public investment: A comment'," Journal of Development Economics, Elsevier, vol. 41(1), pages 177-178, June.
  16. Smith, Gary, 1978. "Dynamic Models of Portfolio Behavior: Comment on Purvis," American Economic Review, American Economic Association, vol. 68(3), pages 410-16, June.
  17. Gang, Ira N. & Ali Khan, Haider, 1990. "Foreign aid, taxes, and public investment," Journal of Development Economics, Elsevier, vol. 34(1-2), pages 355-369, November.
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Cited by:
  1. Zafar Iqbal, 1997. "Foreign Aid and the Public Sector: A Model of Fiscal Behaviour in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 36(2), pages 115-129.

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