Download or read book The Macroeconomic Management of Foreign Aid written by Mr.Peter Isard and published by International Monetary Fund. This book was released on 2006-04-21 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the adoption of the Milennium Development Goals (MDGs) in 2000, the challenge of reducing poverty around the world has been more prominent on the agenda of the international community. Relatively slow progress toward meeting the MDGs by the 2015 target date has added to the urgency of this effort. Two influential reports - The United Nations Millennium Project Report (the "Sachs Report") and the Commission for Africa Report (the "Blair Report") envisage substantial increases in aid flows to poor countries, especially to countries in sub-Saharan Africa. The International community sees increases in aid, along with improvements in recipient policies and freer global trade, as necessary for global prosperity and poverty reduction.
Download or read book The Macroeconomic Management of Increased Aid written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the macroeconomic challenges created by a surge in aid inflows. It develops an analytical framework for examining possible policy responses to increased aid, in terms of absorption and spending of aid - where the central bank controls absorption through monetary policy and the sale of foreign exchange and the fiscal authority controls spending. Different combinations of absorption and spending lead to different macroeconomic consequences. Evidence from five countries that recently experienced an aid surge (Ethiopia, Ghana, Tanzania, Mozambique and Uganda) shows no support for aidrelated real exchange rate appreciation in these countries, but indicates that the fear of Dutch disease played an important part in the policy reaction to aid surges. Fiscal and monetary authorities should coordinate their responses to an aid surge, because an uncoordinated response - typically when fiscal authority wants to spend aid while the central bank wants to avoid exchange rate appreciation - can have serious negative macroeconomic consequences. -- aid ; exchange rate ; aid absorption ; policy
Download or read book The Macroeconomic Management of Foreign Aid written by Tony Addison and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: To meet development objectives, aid recipients and their donor partners need to effectively manage the macroeconomic effects of aid. Aid can improve the economy's supply-side and raise growth. But if the macroeconomic impact of aid is not managed well it can distort and sometimes undermine growth. In December 2011, AERC and UNU-WIDER held a conference under the ReCom programme on the 'Macroeconomic Management of Aid', which aimed to clarify aid's macroeconomic effects. This knowledge will contribute to improving aid's growth impact and help with the scaling up of aid itself.Aid has potentially large effects on the structure of the recipient's economy and international competitiveness. These in turn greatly influence aid's effectiveness in achieving economic growth, employment creation, and poverty reduction. At the same time, the bigger macroeconomic picture for many aid-recipient countries is changing, the result of better export earnings, resource revenues, and more inward investment. Some are becoming less aid-dependent, and resource revenues now constitute a much bigger source of foreign exchange than foreign aid in some countries. All of these inflows need careful macroeconomic management to maximize their development effectiveness.
Download or read book The Macroeconomics of Managing Increased Aid Inflows Experiences of Low Income Countries and Policy Implications written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2005-08-08 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investigates the macroeconomic challenges for low-income countries created by a surge in aid inflows. It develops an analytical framework for examining possible policy responses to increased aid, and then applies this framework to the experience of five relatively well-governed countries that experienced a recent surge in aid inflows: Ethiopia, Ghana, Mozambique, Tanzania, and Uganda. Each country’s policies were supported by a PRGF arrangement during most of the period under review.
Download or read book Assessing Aid written by and published by World Bank Publications. This book was released on 1998 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing Aid determines that the effectiveness of aid is not decided by the amount received but rather the institutional and policy environment into which it is accepted. It examines how development assistance can be more effective at reducing global poverty and gives five mainrecommendations for making aid more effective: targeting financial aid to poor countries with good policies and strong economic management; providing policy-based aid to demonstrated reformers; using simpler instruments to transfer resources to countries with sound management; focusing projects oncreating and transmitting knowledge and capacity; and rethinking the internal incentives of aid agencies.
Download or read book The Short Run Macroeconomic Impact of Foreign Aid to Small States written by Derek Headey and published by Intl Food Policy Res Inst. This book was released on 2010 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Macroeconomic Management of Foreign Aid written by Leslie Lipschitz and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers in this volume address a range of relevant issues: • The relationship between aid, growth, and poverty reduction. • The potential for sizable increases in aid to adversely affect competitiveness, and how to avoid this. • Concerns that aid flows that are volatile, unpredictable, and sometimes procyclical exacerbate macroeconomic stabilization difficulties. • The impact of higher aid flows on the debt sustainability of recipients.
Download or read book Aid and Fiscal Management written by Ales Bulir and published by International Monetary Fund. This book was released on 2002-06 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the macroeconomic aspects of fiscal management in aid-receiving countries. Despite the declining share of aid in budgets of donor countries, aid continues to play an important role in many developing countries. The paper first discusses the implications of aid in the economy as a whole and highlights the possibility of Dutch-disease effects of aid. Second, it discusses the implications of aid for short-term fiscal policy management?in particular, how actual or anticipated changes in aid receipts should be reflected in government spending.
Download or read book Special Issue Aid Policy and the Macroeconomic Management of Aid written by and published by . This book was released on 2015 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Development written by Ian Goldin and published by Oxford University Press. This book was released on 2018 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is development -- How does development happen? -- Why are some countries rich and others poor? -- What can be done to accelerate development? -- The evolution of development aid -- Sustainable development -- Globalization and development -- The future of development.
Download or read book Aid and the Dutch Disease written by Stephen D. Younger and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries that undertake serious and sustained programs of stabilization and structural adjustment should expect to attract significant new inflows of capital from donor countries and international institutions. While apparently beneficial, those flows can work at crosspurpose with other goals of the policy reforms. In particular, abundant foreign exchange loans can force an appreciation of the real exchange rate (often through domestic inflation rather than a nominal appreciation). In addition, since the government is almost always the recipient of these loans, it can crowd out the private sector if it increases its aggregate demand for domestic goods and services. If the crowding out is accomplished by tight monetary policy, it will fall primarily on private investment rather than consumption. This paper shows that both of these problems have surfaced in Ghana, a country that has become a favorite of donors after demonstrating a serious commitment to policies promoted by the World Bank and International Monetary Fund. The paper also suggests modifications in macroeconomic policy that would help lower inflation and boost private investment.
Download or read book Foreign Aid and Development written by Finn Tarp and published by Routledge. This book was released on 2000-08-17 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aid has worked in the past but can be made to work better in the future. This book offers important new research and will appeal to those working in economics, politics and development studies as well as to governmental and aid professionals.
Download or read book Macroeconomic Management When Policy Space is Constrained written by Vitor Gaspar and published by International Monetary Fund. This book was released on 2016-09-28 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or deal with the next negative shock. This note argues that room exists for effective policies and that it should be used if appropriate. The most promising route involves a comprehensive, consistent, and coordinated approach to policy making. Comprehensive policy actions within a country exploit synergies, making the whole greater than the sum of parts. Consistent policy frameworks anchor long-term expectations while allowing decisive short- to medium-term accommodation whenever necessary. Coordinated policies across major economies amplify the helpful effects of individual policy actions through positive cross-border spillovers. The findings of this paper indicate that policy coordination adds particular value if the current approach falls short of reviving growth, or in the event of a further downward shock.
Download or read book Aid and the Dutch Disease written by Stephen D. Younger and published by Cornell Food & Nutrition Policy Programs. This book was released on 1991 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Download or read book Aid Policy and the Macroeconomic Management of Aid written by Tony Addison and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an introduction to the UNU-WIDER special issue of World Development on aid policy and the macroeconomic management of aid. We provide an overview of the 10 studies, grouping them under three sub-themes: the aid-growth relationship; the supply-side of aid (including its level, volatility, and coordination of donors); and the macroeconomic framework around aid. The studies in the special issue demonstrate the centrality of research methodology, the importance of disaggregation, and the need to account for country-specific situations and problems. This introduction concludes that the sometimes “over heated” debate on aid needs redirecting toward more rigorous analysis, in which the advantages -- and disadvantages -- of using aid for development can be evaluated in a calmer manner.
Download or read book Essays on the Macroeconomic Management of Foreign Aid Flows in Africa written by Pedro Miguel Gaspar Martins and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The main motivation of this thesis is to contribute to the literature on the macroeconomic effects of foreign aid flows. It consists of four empirical papers, investigating the two main channels through which aid flows impact the recipient economy: (i) the fiscal sector, and (ii) the real exchange rate. The first paper is concerned with the impact of aid on government expenditure, domestic revenues and borrowing. It uses a traditional fiscal response framework with annual data for Ethiopia. The second paper also focuses on the fiscal sector but uses a recently compiled quarterly fiscal dataset and the cointegrated vector autoregression methodology. The main result arising from both papers is the strong correlation between aid inflows and domestic borrowing, possibly as a strategy to smooth unpredictable and volatile aid inflows. Aid is positively correlated with government expenditures, but there is little evidence of tax displacement. There is also evidence of aid heterogeneity, as grants and loans induce different effects. The third paper assesses the impact of foreign aid on the Ethiopian real exchange rate, which is a common measure of external competitiveness. It uses a quarterly macroeconomic dataset and applies two distinct methodologies: (i) single-equation cointegration models, and (ii) an unobserved components model. The results do not provide support for the 'Dutch disease' hypothesis. The fourth paper investigates the extent to which foreign aid is 'absorbed' and 'spent'. The empirical analysis uses a panel of 25 African low-income countries and applies recently developed panel cointegration techniques. The findings suggest that aid is fully spent while absorption is higher than previously estimated.
