Aid Effectiveness: The Role of the Local Elite

Luis Angeles () and Kyriakos Neanidis

Centre for Growth and Business Cycle Research Discussion Paper Series from Economics, The University of Manchester

Abstract: We study the importance of the local elite as a determinant of the effectiveness of foreign aid in developing countries. An "extractive" elite will misuse aid ?ows, an issue that is probably as old as foreign aid itself. We proxy for the existence of an "extractive" elite by using an historically determined variable: the percentage of European settlers in colonial times. Our econometric results clearly show the importance of this factor and its robustness to a wide set of alternative aid-growth relationships advanced in the literature.

Pages: 37 pages
Date: 2006
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Related works:
Journal Article: Aid effectiveness: the role of the local elite (2009)
Working Paper: Aid Effectiveness: The Role of the Local Elite (2006)
Working Paper: Aid Effectiveness: The Role of the Local Elite (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:man:cgbcrp:80

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