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Aid, Political Business Cycles and Growth in Africa

Blessing Chiripanhura () and Miguel Niño-Zarazúa ()

No wp-2014-145, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper develops a model of opportunistic behaviour in which an incumbent government resort to expansionary fiscal and/or monetary stimuli to foster economic growth and thus, maximize the probability of re-election. Using a panel dataset of 51 African countries covering the period 1980 to 2012, we test first, whether aid and institutional quality factors have an effect on growth. We find evidence to support the most recent studies showing that aid has a positive impact on growth.

Keywords: Business cycles; Economic assistance and foreign aid; Econometric models (Economic development); Economic growth; Macroeconomics (search for similar items in EconPapers)
Date: 2014
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