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Foreign Aid And Domestic Savings: The Crowding Out Effect

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Author Info
Michael P. Shields

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Abstract

The paper examines the relationship between foreign aid and savings using annual data for 119 countries. Regressions for each country are run separately in order to find which countries have a positive aid-saving experience. The explanatory variables chosen are thought to be exogenous to current economic policy. Countries are placed into five categories according to the strength of the aid-saving relationship. Few countries show evidence of substantial crowding out. Consequently, aid is found to be clearly beneficial to saving and, hence, investment for the preponderance of these countries.

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File URL: http://www.buseco.monash.edu.au/eco/research/papers/2007/3507foreignaid.pdf
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Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 35/07.

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Length: 16pages
Date of creation: 02 Nov 2007
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Handle: RePEc:mos:moswps:2007-35

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  1. Griffin, Keith B & Enos, J L, 1970. "Foreign Assistance: Objectives and Consequences," Economic Development and Cultural Change, University of Chicago Press, vol. 18(3), pages 313-27, April.
  2. Craig Burnside & David Dollar, 2000. "Aid, Policies, and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 847-868, September. [Downloadable!] (restricted)
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  3. William Easterly, 2003. "Can Foreign Aid Buy Growth?," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 23-48, Summer. [Downloadable!] (restricted)
  4. Carl-Johan Dalgaard & Henrik Hansen & Finn Tarp, 2004. "On The Empirics of Foreign Aid and Growth," Economic Journal, Royal Economic Society, vol. 114(496), pages F191-F216, 06. [Downloadable!] (restricted)
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  5. Grinols, Earl & Bhagwati, Jagdish N, 1976. "Foreign Capital, Savings and Dependence," The Review of Economics and Statistics, MIT Press, vol. 58(4), pages 416-24, November. [Downloadable!] (restricted)
  6. N. Hermes & R. Lensink, 2001. "Changing the Conditions for Development Aid: A New Paradigm?," The Journal of Development Studies, Taylor and Francis Journals, vol. 37(6), pages 1-16, August. [Downloadable!] (restricted)
  7. Stephen Knack, 2001. "Aid Dependence and the Quality of Governance: Cross-Country Empirical Tests," Southern Economic Journal, Southern Economic Association, vol. 68(2), pages 310-329, October.
  8. Stern, Nicholas, 1989. "The Economics of Development: A Survey," Economic Journal, Royal Economic Society, vol. 99(397), pages 597-685, September. [Downloadable!] (restricted)
  9. Orazio P. Attanasio & Lucio Picci & Antonello E. Scorcu, 2000. "Saving, Growth, and Investment: A Macroeconomic Analysis Using a Panel of Countries," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 182-211, May. [Downloadable!] (restricted)
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