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The Spending and Absorption of Aid in PRGF Supported Programs

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Author Info

  • Jan Kees Martijn
  • Markus Berndt
  • Abu Shonchoy
  • Paolo Dudine

Abstract

This paper studies the spending and absorption of aid in PRGF-supported programs, verifies whether the use aid is programmed to be smoothed over time, and analyzes how considerations about macroeconomic stability influence the programmed use of aid. It finds that PRGF-supported programs allow countries to use most or almost all increases in aid within a few years. The paper finds some evidence that the programmed absorption of aid is higher in countries where reserve coverage is above a certain threshold, whereas programmed spending does not seem to depend on inflation. Finally, it shows that the presence of a PRGFsupported program does not constrain the actual spending and absorption of aid.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/237.

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Length: 44
Date of creation: 01 Oct 2008
Date of revision:
Handle: RePEc:imf:imfwpa:08/237

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Related research

Keywords: Absorptive capacity; Poverty Reduction and Growth Facility; Financial stability; Developing countries; Economic models; fiscal deficit; current account; current account deficit; current account deficits; account deficits; debt service; debt relief; fiscal policy; fiscal data; balance of payments; central bank; domestic debt; external debt; fiscal expansion; fiscal deficits; fiscal balance; domestic financing; fiscal authorities; additional fiscal resources; current account balance; fiscal spending; fiscal contraction; fiscal resources; government budget; official creditors; public debt; debt outstanding; current account balances; fiscal consolidation; external debt service; budget support; fiscal expenditures; government spending; fiscal programming; multilateral debt relief; foreign aid; fiscal space; fiscal variables; debt relief initiative; external public debt; balance of payment; public sector debt; fiscal policies; multilateral debt; fiscal support; external public sector debt; debt sustainability; external financing; fiscal management; fiscal response; reserve accumulation;

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References

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  1. Christopher Adam & Stephen O’Connell & Edward Buffie, 2007. "Monetary Policy Rules For Manging Aid Surges In Africa," WEF Working Papers 0016, ESRC World Economy and Finance Research Programme, Birkbeck, University of London.
  2. Badi H. Baltagi & Georges Bresson & James M. Griffin & Alain Pirotte, 2003. "Homogeneous, heterogeneous or shrinkage estimators? Some empirical evidence from French regional gasoline consumption," Empirical Economics, Springer, vol. 28(4), pages 795-811, November.
  3. A. Javier Hamann & Ales Bulir, 2006. "Volatility of Development Aid," IMF Working Papers 06/65, International Monetary Fund.
  4. Peter S. Heller & Menachem Katz & Xavier Debrun & Theo Thomas & Taline Koranchelian & Isabell Adenauer, 2006. "Making Fiscal Space Happen!," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 7(3), pages 89-132, July.
  5. Baltagi, Badi H. & Griffin, James M., 1997. "Pooled estimators vs. their heterogeneous counterparts in the context of dynamic demand for gasoline," Journal of Econometrics, Elsevier, vol. 77(2), pages 303-327, April.
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Cited by:
  1. Victor Duarte Lledo & Marcos Poplawski-Ribeiro, 2011. "Fiscal Policy Implementation in Sub-Saharan Africa," IMF Working Papers 11/172, International Monetary Fund.
  2. Shonchoy, Abu, 2010. "The Dynamics of Spending and Absorption of Aid: Panel Data Analysis," MPRA Paper 24530, University Library of Munich, Germany.
  3. Strand, Jon, 2009. ""Revenue management"effects related to financial flows generated by climate policy," Policy Research Working Paper Series 5053, The World Bank.

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