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dc.contributor.authorAiyar, Shekharen
dc.contributor.authorBerg, Andrewen
dc.contributor.authorHussain, Mumtazen
dc.date.accessioned2010-02-16-
dc.date.accessioned2011-04-26T07:42:39Z-
dc.date.available2011-04-26T07:42:39Z-
dc.date.issued2008-
dc.identifier.isbn978-92-9230-133-0en
dc.identifier.urihttp://hdl.handle.net/10419/45158-
dc.description.abstractThis 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.en
dc.language.isoengen
dc.publisher|aThe United Nations University World Institute for Development Economics Research (UNU-WIDER) |cHelsinkien
dc.relation.ispartofseries|aWIDER Research Paper |x2008/79en
dc.subject.jelO11en
dc.subject.jelO23en
dc.subject.jelE52en
dc.subject.jelF35en
dc.subject.ddc330en
dc.subject.keywordaiden
dc.subject.keywordexchange rateen
dc.subject.keywordaid absorptionen
dc.subject.keywordpolicyen
dc.subject.stwEntwicklungshilfeen
dc.subject.stwMakroökonomischer Einflussen
dc.subject.stwFinanzpolitiken
dc.subject.stwGeldpolitiken
dc.subject.stwAfrikaen
dc.titleThe macroeconomic management of increased aid: Policy lessons from recent experience-
dc.typeWorking Paperen
dc.identifier.ppn589764055en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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