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Pity the Finance Minister

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  • Peter S. Heller

Abstract

Substantially scaling up of aid flows will require development partners to address many issues, including the impact of higher aid flows on: the competitiveness of aid recipients; the management of fiscal and monetary policy; the delivery of public services; behavioral incentives; and the rate of growth of the economy. Other issues will include the appropriate sequencing of aid-financed investments; balancing alternative expenditure priorities; the implications for fiscal and budget sustainability; and exit strategies from donor funding. Donors will need to ensure greater long-term predictability and reduced short-term volatility of aid. The international financial institutions can play a critical role in helping countries address these scaling-up issues.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 05/180.

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Length: 37
Date of creation: 01 Sep 2005
Date of revision:
Handle: RePEc:imf:imfwpa:05/180

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Keywords: Financial institutions; Aid flows; exchange rate; real exchange rate; foreign exchange; foreign aid; aid dependency; foreign exchange reserves; exchange rate appreciation; exchange rate path; exchange rates; development assistance; nominal exchange rate; exchange rate policy; exchange reserves; real exchange rate appreciation; real exchange rate path; exchange rate policies; fixed nominal exchange rate; development aid; real exchange rates; basket of currencies; flexible exchange rates; exchange earnings; exchange operations; foreign investment; foreign exchange operations; nominal exchange rates; aid effectiveness; real exchange rate trajectories; foreign exchange earnings;

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References

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  1. Michael A. Clemens & Steven Radelet, 2003. "The Millennium Challenge Account: How Much is Too Much, How Long is Long Enough?," Working Papers, Center for Global Development 23, Center for Global Development.
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Citations

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Cited by:
  1. Volker Clausen & Hannah Schürenberg-Frosch, 2009. "Aid, Spending Strategies and Productivity Effects – A Multi-sectoral CGE Analysis for Zambia," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0127, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  2. Pedro M. G. Martins, 2010. "Aid Absorption and Spending in Africa: A Panel Cointegration Approach," Working Paper Series 1010, Department of Economics, University of Sussex.
  3. Bernard Walters, 2007. "The Fiscal Implications of Scaling up ODA to Deal with the HIV/AIDS Pandemic," Conference Paper, International Policy Centre for Inclusive Growth 3, International Policy Centre for Inclusive Growth.
  4. Thierry Tressel & Alessandro Prati, 2006. "Aid Volatility and Dutch Disease," IMF Working Papers 06/145, International Monetary Fund.
  5. Josepa Miquel-Florensa, 2007. "Optimal Incentives in Dynamic Multiple Project Contracts," Working Papers, York University, Department of Economics 2007_2, York University, Department of Economics.
  6. Patrick Guillaumont & Sylviane Guillaumont Jeanneney, 2011. "Big Push versus Absorptive Capacity: How to Reconcile the Two Approaches," Working Papers, HAL halshs-00564565, HAL.
  7. Ahortor, Christian R.K. & Adenutsi, Deodat E., 2008. "The impact of remittances on economic growth in small-open developing economies," MPRA Paper 37109, University Library of Munich, Germany.
  8. Buffie, Edward F. & O'Connell, Stephen A. & Adam, Christopher, 2010. "Fiscal inertia, donor credibility, and the monetary management of aid surges," Journal of Development Economics, Elsevier, Elsevier, vol. 93(2), pages 287-298, November.
  9. James Boyce, 2007. "Public Finance, Aid and Post-Conflict Recovery," Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst wp140, Political Economy Research Institute, University of Massachusetts at Amherst.
  10. Annalisa Fedelino & Gerd Schwartz & Marijn Verhoeven, 2006. "Aid Scaling Up," IMF Working Papers 06/106, International Monetary Fund.
  11. Kiringai, Jane & Levin, Jorgen, 2008. "Achieving the MDGs in Kenya with some aid and reallocation of public expenditures," Working Papers, Örebro University, School of Business 2008:10, Örebro University, School of Business.
  12. Hélène Maisonnave & Ramos Mabugu & Margaret Chitiga & Véronique Robichaud, 2013. "Analysing Job Creation Effects of Scaling Up Infrastructure Spending in South Africa," Cahiers de recherche, CIRPEE 1310, CIRPEE.
  13. Feeny, Simon & de Silva, Ashton, 2012. "Measuring absorptive capacity constraints to foreign aid," Economic Modelling, Elsevier, Elsevier, vol. 29(3), pages 725-733.
  14. George Mavrotas & Bazoumana Ouattara, 2007. "Aid Modalities and Budgetary Response: Panel Data Evidence," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 143(4), pages 720-741, December.
  15. James Boyce, 2008. "Post-Conflict Recovery: Resource Mobilization and Peacebuilding," Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst wp159, Political Economy Research Institute, University of Massachusetts at Amherst.
  16. Gaoussou Diarra, 2011. "Aid unpredictability and absorptive capacity: analyzing disbursement delays in Africa," Economics Bulletin, AccessEcon, vol. 31(1), pages 1004-1017.
  17. James K. Boyce, 2007. "Public finance, aid and post-conflict recovery," UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics 2007-09, University of Massachusetts Amherst, Department of Economics.

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