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Autoren: 
Temple, Jonathan
Van de Sijpe, Nicolas
Datum: 
2014
Schriftenreihe/Nr.: 
CESifo Working Paper No. 5029
Zusammenfassung: 
We introduce a new supply-push' instrument for foreign aid, to be used together with an instrumental variable estimator that filters out unobserved common factors. We use this instrument to study the effects of aid on macroeconomic ratios, and especially the ratios of consumption, investment, imports and exports to GDP. We cannot reject the hypothesis that aid is fully absorbed rather than used to build foreign reserves or exiting as capital flight, nor do we find evidence of Dutch Disease effects. Aid leads to higher consumption, while the evidence that it promotes investment is less robust.
Schlagwörter: 
foreign aid
absorption
Dutch Disease
JEL: 
F35
Dokumentart: 
Working Paper

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