The Long-Run Impact of Foreign Aid in 36 African Countries: Insights from Multivariate Time Series Analysis
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The Long-Run Impact of Foreign Aid in 36 African Countries : Insights from Multivariate Time Series Analysis. / Juselius, Katarina; Møller, Niels Framroze; Tarp, Finn.
I: Oxford Bulletin of Economics and Statistics, Bind 76, Nr. 2, 2014, s. 153-184.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - The Long-Run Impact of Foreign Aid in 36 African Countries
T2 - Insights from Multivariate Time Series Analysis
AU - Juselius, Katarina
AU - Møller, Niels Framroze
AU - Tarp, Finn
N1 - JEL Classification: C32;F35;O11
PY - 2014
Y1 - 2014
N2 - We comprehensively analyse the long-run effect of foreign aid (ODA) on key macroeconomic variables in 36 sub-Saharan African countries from the mid-1960s to 2007, using a well-specified cointegrated VAR model as statistical benchmark. Results provide broad support for a positive long-run impact of ODA flows on the macroeconomy. In contrast, we find little evidence supporting the thesis that aid has been harmful. From a methodological point of view we highlight the importance of transparency in reporting results, especially when the hypothesis being tested differs from theoretical expectations, and we identify reasons for econometrically inadequate results in the literature.
AB - We comprehensively analyse the long-run effect of foreign aid (ODA) on key macroeconomic variables in 36 sub-Saharan African countries from the mid-1960s to 2007, using a well-specified cointegrated VAR model as statistical benchmark. Results provide broad support for a positive long-run impact of ODA flows on the macroeconomy. In contrast, we find little evidence supporting the thesis that aid has been harmful. From a methodological point of view we highlight the importance of transparency in reporting results, especially when the hypothesis being tested differs from theoretical expectations, and we identify reasons for econometrically inadequate results in the literature.
U2 - 10.1111/obes.12012
DO - 10.1111/obes.12012
M3 - Journal article
VL - 76
SP - 153
EP - 184
JO - Oxford Bulletin of Economics and Statistics
JF - Oxford Bulletin of Economics and Statistics
SN - 0305-9049
IS - 2
ER -
ID: 93343934