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Foreign aid and economic growth: New evidence from a panel data approach for five South Asian countries

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  • Asteriou, Dimitrios

Abstract

This paper investigates the long-run relationship between foreign aid and economic growth using a panel data set comprising of five South Asian economies. Using the recently developed panel unit root tests, mean group and pooled mean group estimation techniques on cross-country panel data, the paper finds support of the theoretical hypothesis of a positive relationship between aid and GDP growth.

Suggested Citation

  • Asteriou, Dimitrios, 2009. "Foreign aid and economic growth: New evidence from a panel data approach for five South Asian countries," Journal of Policy Modeling, Elsevier, vol. 31(1), pages 155-161.
    • Handle: RePEc:eee:jpolmo:v:31:y:2009:i:1:p:155-161
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    1. Pesaran, M. Hashem & Smith, Ron, 1995. "Estimating long-run relationships from dynamic heterogeneous panels," Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July.
    2. Quah, Danny, 1993. "Empirical cross-section dynamics in economic growth," European Economic Review, Elsevier, vol. 37(2-3), pages 426-434, April.
    3. Judith Giles, 1994. "Another look at the evidence on foreign aid led economic growth," Applied Economics Letters, Taylor & Francis Journals, vol. 1(11), pages 194-199.
    4. Vasudeva Murthy & Victor Ukpolo & John Mbaku, 1994. "Foreign aid and economic growth in Cameroon: evidence from cointegration tests," Applied Economics Letters, Taylor & Francis Journals, vol. 1(10), pages 161-163.
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