Aid and fiscal instability.
We show that a combination of temporariness and spending pressure is intrinsic to the aid relationship. In our analysis, recipients rationally discount the pronouncements of donors about the duration of their commitments because in equilibrium they know that some donors will honor those commitments...
| Main Authors: | , , |
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| Format: | Working paper |
| Language: | English |
| Published: |
CSAE (University of Oxford)
2008
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