Does foreign aid really raise per capita income? A time series perspective
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Otros documentos de la autoría: Nowak-Lehmann D., Felicitas; Dreher, Axel; Herzer, Dierk; Klasen, Stephan; Martinez-Zarzoso, Inmaculada
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http://dx.doi.org/10.1111/j.1540-5982.2011.01696.x |
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Título
Does foreign aid really raise per capita income? A time series perspectiveAutoría
Fecha de publicación
2012-02Editor
WileyISSN
0008-4085; 1540-5982Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
http://onlinelibrary.wiley.com/doi/10.1111/j.1540-5982.2011.01696.x/fullPalabras clave / Materias
Resumen
We analyze the relationship between per capita income and foreign aid. We employ annual data and five-year averages and carefully examine the time-series properties of the data. Panel estimations with dynamic feasible ... [+]
We analyze the relationship between per capita income and foreign aid. We employ annual data and five-year averages and carefully examine the time-series properties of the data. Panel estimations with dynamic feasible generalized least-squares (DFGLS) show that aid generally has an insignificant or minute negative significant impact on per capita income (particularly in highly aid-dependent countries). This holds true for countries with different levels of human development and income, as well as for different regions. We also find that aid has a small positive impact on investment, but a significant negative impact on domestic savings (crowding out) and the real exchange rate (appreciation). [-]
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Canadian Journal of Economics/Revue canadienne d'économique Vol. 45, num. 1, February 2012Derechos de acceso
© Canadian Economics Association
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