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EBOOK
Author Dhasmana, Anubha,
Title Welfare Gains of Aid Indexation in Small Open Economies / prepared by Anubha Dhasmana.
Imprint Washington, D.C. : International Monetary Fund, 2008.
2008

LOCATION CALL # STATUS MESSAGE
 OHIOLINK IMF EBOOKS    ONLINE  
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LOCATION CALL # STATUS MESSAGE
 OHIOLINK IMF EBOOKS    ONLINE  
View online
Author Dhasmana, Anubha,
Series IMF working paper ; WP/08/101
IMF working paper ; WP/08/101.
Subject Economic assistance -- Developing countries -- Econometric models.
Economic development -- Developing countries -- Econometric models.
Business cycles -- Developing countries -- Econometric models.
Alt Name Dhasmana, Anubha.
International Monetary Fund.
Alternate Title IMF eLibrary.
Description 1 online resource (38 pages)
Note Available in PDF, ePUB, and Mobi formats on the Internet.
Summary 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.
Contents 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.
Bibliography Note Includes bibliographical references.
ISBN 1451914164
9781451914160
9781451914160
OCLC # 815737074



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