This paper examines empirical evidence on the volatility and uncertainty of aid flows, and the main policy implications. Aid is found to be more volatile than fiscal revenues- particularly in highly aid-dependent countries-and mildly procyclical in relation to activity in the recipient country. These findings imply that the current pattern of aid disbursements is welfare-reducing. We also find that uncertainty about aid disbursements is large and that the information content of commitments made by donors is either very small or statistically insignificant. Policies to cope with these features of aid, as well as broader international efforts to reduce the volatility and procyclicality of aid, are briefly discussed.
2006 This Working Paper should not be reported as representing the views of the IMF. The views expre...
We build on Bulir and Hamann's analysis of aid volatility (2003, 2005), showing that the conclusions...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this ero...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
In previous papers the authors have argued that aid is likely to mitigate the negative effects of ex...
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this ero...
International audienceA 2009.25 In previous papers the authors have argued that aid is likely to mit...
One factor limiting aid effectiveness is its volatility. We examine aid volatility in 66 countries o...
In two previous papers we have argued that aid is likely to mitigate the negative effects of externa...
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this er...
2006 This Working Paper should not be reported as representing the views of the IMF. The views expre...
We build on Bulir and Hamann's analysis of aid volatility (2003, 2005), showing that the conclusions...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this ero...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...
In previous papers the authors have argued that aid is likely to mitigate the negative effects of ex...
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this ero...
International audienceA 2009.25 In previous papers the authors have argued that aid is likely to mit...
One factor limiting aid effectiveness is its volatility. We examine aid volatility in 66 countries o...
In two previous papers we have argued that aid is likely to mitigate the negative effects of externa...
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this er...
2006 This Working Paper should not be reported as representing the views of the IMF. The views expre...
We build on Bulir and Hamann's analysis of aid volatility (2003, 2005), showing that the conclusions...
In previous papers we have argued that aid is likely to mitigate the negative effects of external sh...