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Effective Foreign Aid, Economic Integration and Subsidiarity: Lessons from Europe

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  • Abdur Chowdhury

    (United Nations Economic Commission for Europe)

  • Paolo Garonna

    ()
    (United Nations Economic Commission for Europe)

Abstract

An importance source of finance for poorer economies, is foreign aid; this paper examines some controversies surrounding its provision. The advanced economies have provided hundreds of billions of dollars in aid to the developing world over the last several decades; although this has done much good in some cases, many of these countries have grown very little, especially during the last two decades of the twentieth century. In fact some have argued that this aid has actually hindered development by creating perverse incentives and hindering democratic governance. Thus it would appear that much of this money has been wasted, but whose fault has it been and what can be done to improve the situation in the coming decades? This paper analyze these aid issues and propose that the answer to these questions can be partially found by examining the European experience in proving assistance to its disadvantaged regions. Of particular importance in this regard has been the way aid has been used to promote economic integration and how it has been distributed using the subsidiary principle.

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File URL: http://www.unece.org/fileadmin/DAM/oes/nutshell/2008/3_Effective_Foreign_Aid.pdf
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Bibliographic Info

Paper provided by UNECE in its series UNECE Annual Report Economic Essays with number 2008_3.

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Length: 9 pages
Date of creation: Jun 2008
Date of revision:
Publication status: Published in United Nations ECE 2008 Annual Report
Handle: RePEc:ece:annrep:2008_3

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Keywords: Development aid; economic integration; Europe; subsidiarity; aid for trade;

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  1. Raghuram G. Rajan & Arvind Subramanian, 2005. "Aid and Growth: What Does the Cross-Country Evidence Really Show?," NBER Working Papers 11513, National Bureau of Economic Research, Inc.
  2. Carl-Johan Dalgaard & Henrik Hansen & Finn Tarp, 2001. "On the Empirics of Foreign Aid and Growth," EPRU Working Paper Series 03-13, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics, revised Sep 2003.
  3. Burnside, Craig & Dollar, David, 1997. "Aid, policies, and growth," Policy Research Working Paper Series 1777, The World Bank.
  4. Raghuram Rajan & Arvind Subramanian, 2005. "Aid and Growth," IMF Working Papers 05/127, International Monetary Fund.
  5. Levy, Victor, 1988. "Aid and growth in Sub-Saharan Africa: The recent experience," European Economic Review, Elsevier, vol. 32(9), pages 1777-1795, November.
  6. R. Lensink & H. White, 2001. "Are There Negative Returns to Aid?," Journal of Development Studies, Taylor & Francis Journals, vol. 37(6), pages 42-65.
  7. C-J. Dalgaard & H. Hansen, 2001. "On Aid, Growth and Good Policies," Journal of Development Studies, Taylor & Francis Journals, vol. 37(6), pages 17-41.
  8. Michael A. Clemens & Steven Radelet & Rikhil Bhavnani, 2004. "Counting chickens when they hatch: The short-term effect of aid on growth," International Finance 0407010, EconWPA.
  9. Henrik Hansen & Finn Tarp, 2000. "Aid effectiveness disputed," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(3), pages 375-398.
  10. Isham, Jonathan & Kaufmann, Daniel & Pritchett, Lant, 1995. "Governance and returns on investment : an empirical investigation," Policy Research Working Paper Series 1550, The World Bank.
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