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Can Debt Relief Boost Growth in Poor Countries?

Can Debt Relief Boost Growth in Poor Countries?
Author: Benedict J. Clements
Publisher: International Monetary Fund
Total Pages: 28
Release: 2005
Genre: Business & Economics
ISBN:

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The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.


Lessons on Foreign Aid and Economic Development

Lessons on Foreign Aid and Economic Development
Author: Nabamita Dutta
Publisher: Springer Nature
Total Pages: 302
Release: 2019-09-06
Genre: Business & Economics
ISBN: 3030221210

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A response to the pressing need to address and clarify the substantial ambiguity within current literature, this edited volume aims to deepen readers’ understanding of the impact of foreign aid on development outcomes based on the latest findings in research over the past decade. Foreign aid has long been seen as one of two extremes: either beneficial or damaging, a blessing or a curse. Consequently, many readers perceive aid’s effectiveness based on the work of scholars who are assessing the impact of aid from one of two antithetical perspectives. This book takes a different approach, shedding light on recent research that can deepen our understanding of the complex relationship between aid and its aftereffects. Drawing from an extensive set of studies that have explored micro and macro impacts of foreign aid for recipient nations, chapter authors highlight more layered and nuanced findings, with a focus on donor characteristics, political motives, and an evaluation of aid projects and their effectiveness, including the differential impact based on type of aid. This volume is the first of its kind to unpack aid as a complex rather than a unitary concept and explore the wide areas of grey that have long enshrouded foreign aid.


The Economics of Aid

The Economics of Aid
Author: J. M. Healey
Publisher: Taylor & Francis
Total Pages: 81
Release: 2010-11-29
Genre: Business & Economics
ISBN: 1136889787

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First published in 1971, this reissue considers the main aspects of foreign aid to developing countries in terms of economic concepts and principles. The author gives an economic definition of aid and considers the motives for giving aid and the principles on which it may be allocated. He looks at the effect on the economic growth of developing countries of both the aid given and the need to repay the debt, and the effect on trade patterns and resource allocation of tying aid to one particular project, or one source of goods. While economic analysis is only a first step in providing a basis for policy decisions on foreign aid, Dr Healey shows that many issues can be clarified by looking at them from the economists’ point of view.


Foreign Aid for Development

Foreign Aid for Development
Author: George Mavrotas
Publisher: Oxford University Press, USA
Total Pages: 393
Release: 2010-02-25
Genre: Business & Economics
ISBN: 0199580936

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An edited collection on foreign aid that addresses important aid questions, and reviews the shifting aid landscape in light of the recent global financial crisis. The volume reviews the progress achieved so far, identifies the challenges ahead, and discusses the emerging policy agenda in foreign aid.


Economic Development and World Debt

Economic Development and World Debt
Author: Soumitra Sharma
Publisher: Springer
Total Pages: 455
Release: 1989-07-03
Genre: Business & Economics
ISBN: 1349200441

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The papers presented here were first given at the International Conference of Economists at the University of Zagreb in Yugoslavia. The book contains a rare selection of divergent theoretical and practical views on the acute problem of international debt and its repercussions on world economic growth at large and the developing countries in particular.


The Value Chain of Foreign Aid

The Value Chain of Foreign Aid
Author: Christian Schabbel
Publisher: Springer Science & Business Media
Total Pages: 333
Release: 2007-04-21
Genre: Business & Economics
ISBN: 3790819328

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This book assesses the prospects of official development assistance (ODA) for poverty reduction. It analyzes the entire value chain of ODA, including provision, allocation and utilization. Within each of these components, coverage examines scope and limits of aid. The horizontal interactions between donors and recipients as well as the vertical connections to local and region-specific conditions represent the heart of this book's approach.


Reinventing Foreign Aid

Reinventing Foreign Aid
Author: William R. Easterly
Publisher: MIT Press
Total Pages: 581
Release: 2008-05-09
Genre: Business & Economics
ISBN: 0262550660

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Top experts in the field discuss how to improve the effectiveness of foreign aid, proposing practical solutions to specific problems rather than a utopian master plan. The urgency of reducing poverty in the developing world has been the subject of a public campaign by such unlikely policy experts as George Clooney, Alicia Keyes, Elton John, Angelina Jolie, and Bono. And yet accompanying the call for more foreign aid is an almost universal discontent with the effectiveness of the existing aid system. In Reinventing Foreign Aid, development expert William Easterly has gathered top scholars in the field to discuss how to improve foreign aid. These authors, Easterly points out, are not claiming that their ideas will (to invoke a current slogan) Make Poverty History. Rather, they take on specific problems and propose some hard-headed solutions. Easterly himself, in an expansive and impassioned introductory chapter, makes a case for the “searchers”—who explore solutions by trial and error and learn from feedback—over the “planners”—who throw an endless supply of resources at a big goal—as the most likely to reduce poverty. Other writers look at scientific evaluation of aid projects (including randomized trials) and describe projects found to be cost-effective, including vaccine delivery and HIV education; consider how to deal with the government of the recipient state (work through it or bypass a possibly dysfunctional government?); examine the roles of the International Monetary Fund (a de-facto aid provider) and the World Bank; and analyze some new and innovative proposals for distributing aid. Contributors Abhijit Banerjee, Nancy Birdsall, Craig Burnside, Esther Duflo, Domenico Fanizza, William Easterly, Ruimin He, Kurt Hoffman, Stephen Knack, Michael Kremer, Mari Kuraishi, Ruth Levine, Bertin Martens, John McMillan, Edward Miguel, Jonathan Morduch, Todd Moss, Gunilla Pettersson, Lant Pritchett, Steven Radelet, Aminur Rahman, Ritva Reinikka, Jakob Svensson, Nicolas van de Walle, James Vreeland, Dennis Whittle, Michael Woolcock


Debt Relief for Poor Countries

Debt Relief for Poor Countries
Author: T. Addison
Publisher: Springer
Total Pages: 334
Release: 2004-06-11
Genre: Business & Economics
ISBN: 0230522327

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After a massive international campaign calling attention to the development impact of foreign debt, the Heavily Indebted Poor Countries (HIPC) initiative is now underway. But will the HIPC Initiative meet its high expectations? Will debt relief substantially raise growth? How do we make sure that debt relief benefits poor people? And how can we ensure that poor countries do not become highly indebted again? These are some of the key policy issues covered in this rigorous and independent analysis of debt, development, and poverty.


Globalization for Development

Globalization for Development
Author: Ian Goldin
Publisher: World Bank Publications
Total Pages: 332
Release: 2006
Genre: Social Science
ISBN: 0821362755

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"Globalization and its relation to poverty reduction and development is not well understood. The book identifies the ways in which globalization can overcome poverty or make it worse. The book defines the big historical trends, identifies main global flows-trade, finance, aid, migration, and ideas-and examines how each can contribute to undermine economic development. By considering what helps and what does not, the book presents policy recommendations to make globalization more effective as a vehicle for shared growth and prosperity. It will be of interest to students, researchers and anyone interested in the effects of globalization in today's economy and in international development issues."