Should Easier Access to Credit Replace Foreign Aid? A Trade-theoretic Analysis
We develop a two-period trade-theoretic model for a recipient country with credit constraints and develop a necessary and sufficient condition for replacing foreign aid by credit to be welfare improving.
Volume (Year): 33 (2013)
Issue (Month): 3 ()
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- Stephen D. Williamson, 1984.
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572, Queen's University, Department of Economics.
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- Lahiri, Sajal & Raimondos-Moller, Paschalis, 1994. "Competition for Aid and Trade Policy," Economics Discussion Papers 10030, University of Essex, Department of Economics.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Bandyopadhyay, Subhayu & Lahiri, Sajal & Younas, Javed, 2013.
"On the substitutability between foreign aid and international credit,"
Elsevier, vol. 118(2), pages 255-257.
- Subhayu Bandyopadhyay & Sajal Lahiri & Javed Younas, 2012. "On the substitutability between foreign aid and international credit," Working Papers 2012-043, Federal Reserve Bank of St. Louis.
- Bernhard Paasche & Stanley E. Zin, 2001. "Competition and Intervention in Sovereign Debt Markets," NBER Working Papers 8679, National Bureau of Economic Research, Inc.
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