Foreign aid, public investment, and the informal economy

被引：5

作者：

Chatterjee, Santanu ^{[1
,4
]}

Kelly, Mark C. ^{[2
]}

Turnovsky, Stephen J. ^{[3
]}

机构：

[1] Univ Georgia, Terry Coll Business, Dept Econ, Athens, GA 30602 USA

[2] Baylor Univ, Hankamer Sch Business, Dept Econ, Waco, TX 76798 USA

[3] Univ Washington, Dept Econ, Seattle, WA 98195 USA

[4] Univ Georgia, Terry Coll Business, Dept Econ, Athens, GA 30602 USA

来源：

ECONOMIC INQUIRY | 2022年 / 60卷 / 01期

关键词：

capital mobility; Dutch Disease; foreign aid; informal sector; infrastructure; labor mobility; Official Development Assistance; public investment; real exchange rate; REAL EXCHANGE-RATE; FISCAL-POLICY; DUTCH DISEASE; TRANSFERS; SECTOR; MODEL; AGRICULTURE; REMITTANCES; EMPLOYMENT; DYNAMICS;

D O I：

10.1111/ecin.13019

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the absorption of foreign aid in the presence of formal and informal production. Calibrating a two-sector open economy model to 67 aid-recipient countries for 1990-2019, we show that an increase in foreign aid drives resources into the informal sector, and away from the formal sector. With untied aid, the expansion of the informal sector can lead to an economic contraction through the Dutch Disease effect. An economic expansion with an increase in the share of formal production can be attained by re-allocating existing aid to public investment rather than an increase in the aggregate level of aid.

引用

页码：174 / 201

页数：28

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