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A Contract Perspective on the International Finance Facility

Tun Lin and George Mavrotas

No RP2004-60, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The present paper is a first attempt to develop a theoretical model using a short-term vis-à-vis long-term contract framework within which donor countries' endorsement or rejection decision towards the recently proposed International Finance Facility (IFF) is rationalized. The current foreign aid system is portrayed as being similar to a series of short-term contracts, where donor countries are able to adjust the aid amount to reflect environmental change (broadly defined to take into account changes in public opinion, domestic situation, etc.).

Keywords: Decision making; Economic assistance and foreign aid; Simulation methods (Economics); Uncertainty (search for similar items in EconPapers)
Date: 2004
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