Tahun Terbit

2007

Deskripsi Fisik

viii, 67 p.; 27 cm.

Official development assistance is a key source of external finance in many developing countries. A striking feature of these aid flows is their positive correlation with business cycles in recipient countries. This pattern is puzzling in that it reinforces recipients� already strong and costly macroeconomic fluctuations. We propose a simple model of investment financing and aid provision…