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Challenging Foreign Aid: A Policymaker's Guide to the Millennium Challenge Account

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  • Steven Radelet

Abstract

In March 2002, President George W. Bush proposed establishing the Millennium Challenge Account (MCA), a new foreign aid program designed to provide substantial assistance to a select group of low-income countries that are committed to sound development policies. The MCA could bring about the most fundamental changes to US foreign assistance policy in 40 years.In this study, Steven Radelet examines the MCA's potential promise and possible pitfalls. He offers a rigorous analysis of the MCA's central challenge: making foreign aid more effective in supporting economic growth and poverty reduction in the poor countries. He systematically explores what makes the MCA different and pinpoints the critical issues that will determine its success or failure.The book concludes with important recommendations about how the MCA should be strengthened to solidify its innovation and independence and to ensure coordination with other US foreign aid programs. Written at a practical level, this book is an invaluable resource for anyone seriously interested in the MCA and US foreign assistance policy.

Suggested Citation

  • Steven Radelet, 2003. "Challenging Foreign Aid: A Policymaker's Guide to the Millennium Challenge Account," Peterson Institute Press: All Books, Peterson Institute for International Economics, number cgd371.
  • Handle: RePEc:iie:ppress:cgd371
    Note: Center for Global Development book
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    Cited by:

    1. Bigsten, Arne & Tengstam, Sven, 2015. "International Coordination and the Effectiveness of Aid," World Development, Elsevier, vol. 69(C), pages 75-85.
    2. Dreher, Axel & Nunnenkamp, Peter & Öhler, Hannes, 2012. "Why it pays for aid recipients to take note of the Millennium Challenge Corporation: Other donors do!," Economics Letters, Elsevier, vol. 115(3), pages 373-375.
    3. repec:got:cegedp:99 is not listed on IDEAS
    4. Nasser Saidi, 2003. "Promesses Chatoyantes, Pietre Performance: Aide Et Cooperation Dans Les Pays Sortant D?un Conflit," Working Papers 0331, Economic Research Forum, revised 10 2003.
    5. Öhler, Hannes & Nunnenkamp, Peter & Dreher, Axel, 2012. "Does conditionality work? A test for an innovative US aid scheme," European Economic Review, Elsevier, vol. 56(1), pages 138-153.
    6. Chhotray, Vasudha & Hulme, David, 2009. "Contrasting Visions for Aid and Governance in the 21st Century: The White House Millennium Challenge Account and DFID's Drivers of Change," World Development, Elsevier, vol. 37(1), pages 36-49, January.
    7. Steven Radelet, 2004. "The Millennium Challenge Account: Transforming US Foreign Assistance Policy?," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 11(1), pages 53-69.
    8. Nuno Baetas da Silva & João Sousa Andrade & António Portugal Duarte, 2016. "Alternative Sources of Dutch Disease: A Survey of the Literature," GEMF Working Papers 2016-10, GEMF, Faculty of Economics, University of Coimbra.
    9. Atsuko Tanaka, "undated". "Notes on Foreign Aid Selectivity Based on Human Capital," Working Papers 2015-23, Department of Economics, University of Calgary, revised 27 Sep 2015.
    10. repec:rss:jnljms:v1i11p1 is not listed on IDEAS

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