How Is Foreign Aid Spent? Evidence from a Natural Experiment

被引：87

作者：

Werker, Eric ^{[1
]}

Ahmed, Faisal Z. ^{[2
]}

Cohen, Charles ^{[3
]}

机构：

[1] Harvard Univ, Sch Business, Boston, MA 02163 USA

[2] Univ Chicago, Chicago, IL 60637 USA

[3] Sankaty Advisors, Boston, MA 02199 USA

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2009年 / 1卷 / 02期

关键词：

ECONOMIC-GROWTH; CAPITAL GOODS; INVESTMENT;

D O I：

10.1257/mac.1.2.225

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We use oil price fluctuations to test the impact of transfers from wealthy OPEC nations to their poorer Muslim allies. The instrument identifies plausibly exogenous variation in foreign aid. We investigate how aid is spent by tracking its short-run effect on aggregate demand, national accounts, and balance of payments. Aid affects most components of GDP though it has no statistically identifiable impact on prices or economic growth. Much aid is consumed, primarily in the form of imported noncapital goods. Aid substitutes for domestic savings, has no effect on the financial account, and leads to unaccounted capital flight. (JEL F35, O19)

引用

页码：225 / 244

页数：20

共 28 条

[1] Who gives foreign aid to whom and why? [J].