Business Cycle Fluctuations, Large Macroeconomic Shocks, and Development Aid

被引：32

作者：

Dabla-Norris, Era ^{[1
]}

Minoiu, Camelia ^{[2
]}

Zanna, Luis-Felipe ^{[2
]}

机构：

[1] Int Monetary Fund, Strategy Policy & Review Dept, Washington, DC 20431 USA

[2] Int Monetary Fund, Res Dept, Washington, DC 20431 USA

来源：

WORLD DEVELOPMENT | 2015年 / 69卷

关键词：

foreign aid; bilateral donors; business cycle; macroeconomic shocks; FOREIGN-AID; DETERMINES; MODELS; POLICY; BIAS;

D O I：

10.1016/j.worlddev.2013.12.019

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

We examine the cyclical properties of development aid using bilateral data for 22 donors and 113 recipients during 1970-2005. We find that bilateral aid flows are on average procyclical with respect to the business cycle in both donor and recipient countries. While aid outlays contract sharply during severe downturns in donor countries, they rise steeply when aid-receiving countries experience large adverse shocks. Our findings suggest that development aid may play an important cushioning role in developing countries, but only during times of severe macroeconomic stress. Our results are robust to alternate definitions of aid flows, specifications, and estimation techniques. (C) 2014 International Monetary Fund. Published by Elsevier Ltd. All rights reserved.

引用

页码：44 / 61

页数：18

共 50 条

[1] Common macroeconomic shocks and business cycle fluctuations in Euro area countries
Cavallo, Antonella
Ribba, Antonio
[J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2015, 38 : 377 - 392
[2] MACROECONOMIC EFFECTS OF ENERGY PRICE SHOCKS ON THE BUSINESS CYCLE
Bao Tan Huynh
[J]. MACROECONOMIC DYNAMICS, 2016, 20 (03) : 623 - 642
[3] Business cycle shocks to foreign aid flows
Boboshko, Nikolai
Veuger, Stan
[J]. HUMANITARIAN TECHNOLOGY: SCIENCE, SYSTEMS AND GLOBAL IMPACT 2016, HUMTECH2016, 2016, 159 : 326 - 328
[4] On business cycle fluctuations in USA macroeconomic time series
Kiani, Khurshid M.
[J]. ECONOMIC MODELLING, 2016, 53 : 179 - 186
[5] External Shocks and Business Cycle Fluctuations in Mongolia: Evidence from a Large Bayesian VAR
Doojav, Gan-Ochir
Luvsannyam, Davaajargal
[J]. INTERNATIONAL ECONOMIC JOURNAL, 2019, 33 (01) : 42 - 64
[6] On the contribution of international shocks in Australian business cycle fluctuations
Jamie L. Cross
Aubrey Poon
[J]. Empirical Economics, 2020, 59 : 2613 - 2637
[7] On the contribution of international shocks in Australian business cycle fluctuations
Cross, Jamie L.
Poon, Aubrey
[J]. EMPIRICAL ECONOMICS, 2020, 59 (06) : 2613 - 2637
[8] LARGE SHOCKS, SMALL SHOCKS, AND ECONOMIC-FLUCTUATIONS - OUTLIERS IN MACROECONOMIC TIME-SERIES
BALKE, NS
FOMBY, TB
[J]. JOURNAL OF APPLIED ECONOMETRICS, 1994, 9 (02) : 181 - 200
[9] News shocks and Japanese macroeconomic fluctuations
Ko, Jun-Hyung
Miyazawa, Kensuke
Tuan Khai Vu
[J]. JAPAN AND THE WORLD ECONOMY, 2012, 24 (04) : 292 - 304
[10] NEW PERSPECTIVES ON DEPRECIATION SHOCKS AS A SOURCE OF BUSINESS CYCLE FLUCTUATIONS
Furlanetto, Francesco
Seneca, Martin
[J]. MACROECONOMIC DYNAMICS, 2014, 18 (06) : 1209 - 1233

← 1 2 3 4 5 →