Aid, Growth, and Development: Have We Come Full Circle?
Channing Arndt (),
Sam Jones () and
Finn Tarp ()
Journal of Globalization and Development, 2010, vol. 1, issue 2, 1-29
The micro-macro paradox has been revived. Despite broadly positive evaluations at the micro- and meso-levels, recent literature doubts the ability of foreign aid to foster economic growth and development. This paper assesses the aid-growth literature and, taking inspiration from the program evaluation literature, we re-examine key hypotheses. In our findings, aid has a positive and statistically significant causal effect on growth over the long run, with confidence intervals conforming to levels suggested by growth theory. Aid remains a key tool for enhancing the development prospects of poor countries.
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Working Paper: Aid, Growth, and Development: Have We Come Full Circle? (2010)
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