Burke, Paul; Ahmadi-Esfahani, Fredoun Z
The success of foreign aid in promoting economic growth in developing nations is an issue of considerable controversy. In this article, the effectiveness of aid in promoting growth in three South East Asian countries - Thailand, Indonesia and the Philippines - is empirically tested, using a simultaneous-equation model in which growth and savings are jointly determined. The results indicate that aid had an insignificant effect on the growth rates of the three nations during 1970-2000 and did not...[Show more]
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