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Welfare Gains of Aid Indexation in Small Open Economies /
Foreign aid flows to poor, aid-dependent economies are highly volatile and pro-cyclical. Shortfalls in aid coincide with shortfalls in GDP and government revenues. This increases the consumption volatility in aid dependent countries, thereby causing substantial welfare losses. This paper finds that...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2008.
Ã2008 |
| Colección: | IMF working paper ;
WP/08/101. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Dhasmana, Anubha, |e author. | |
| 245 | 1 | 0 | |a Welfare Gains of Aid Indexation in Small Open Economies / |c prepared by Anubha Dhasmana. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2008. | ||
| 264 | 4 | |c Ã2008 | |
| 300 | |a 1 online resource (38 pages) | ||
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| 490 | 1 | |a IMF working paper ; |v WP/08/101 | |
| 500 | |a Available in PDF, ePUB, and Mobi formats on the Internet. | ||
| 520 | |a Foreign aid flows to poor, aid-dependent economies are highly volatile and pro-cyclical. Shortfalls in aid coincide with shortfalls in GDP and government revenues. This increases the consumption volatility in aid dependent countries, thereby causing substantial welfare losses. This paper finds that indexing aid flows to exogenous shocks like a change in the terms of trade can significantly improve the welfare of aid-dependent country by lowering its output and consumption volatility. Compared to the benchmark specification with stochastic aid flows, indexation of aid flows to terms of trade shocks can reduce the cost of business cycle fluctuations in the recipient country by four percent of permanent consumption. Moreover, use of indexed aid can allow donors to reduce the aid flows by three percent without lowering the level of welfare in the recipient country. | ||
| 505 | 0 | |a I. INTRODUCTION; II. PRIMARY COMMODITY EXPORTS AND PRICE VOLATILITY; III. THE BENCHMARK MODEL; IV. MODEL CALIBRATION AND COMPARATIVE STATICS; V. DYNAMICS; VI. RESULTS; VII. CONCLUSION; References. | |
| 504 | |a Includes bibliographical references. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Economic assistance |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Economic development |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Business cycles |z Developing countries |x Econometric models. | |
| 650 | 7 | |a Business cycles |x Econometric models |2 fast | |
| 650 | 7 | |a Economic assistance |x Econometric models |2 fast | |
| 650 | 7 | |a Economic development |x Econometric models |2 fast | |
| 651 | 7 | |a Developing countries |2 fast | |
| 700 | 1 | |a Dhasmana, Anubha. | |
| 710 | 2 | |a International Monetary Fund. | |
| 730 | 0 | |a IMF eLibrary. | |
| 758 | |i has work: |a Welfare gains of aid indexation in small open economies (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGJyj8f8BM4Pf69ppcHJwC |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 830 | 0 | |a IMF working paper ; |v WP/08/101. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607849 |z Texto completo |
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