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Record Nr. |
UNINA9910968526303321 |
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Autore |
Dhasmana Anubha |
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Titolo |
Welfare Gains of Aid Indexation in Small Open Economies / / Anubha Dhasmana |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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9786612840562 |
9781462389100 |
1462389104 |
9781452770277 |
1452770271 |
9781282840560 |
1282840568 |
9781451869620 |
1451869622 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (40 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/101 |
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Disciplina |
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Soggetti |
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Economic assistance - Developing countries - Econometric models |
Economic development - Developing countries - Econometric models |
Business cycles - Developing countries - Econometric models |
Agricultural commodities |
Agriculture: General |
Aid flows |
Consumption |
Economic assistance |
Economic policy |
Economics |
Empirical Studies of Trade |
Exports and Imports |
Exports |
Farm produce |
Foreign Aid |
International economics |
Investment & securities |
Investments: Commodities |
Macroeconomics |
Macroeconomics: Consumption |
Nternational cooperation |
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Saving |
Terms of trade |
Trade: General |
Wealth |
Burkina Faso |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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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; Figures; 1. Resource flow as a percentage of GDP; Tables; 1. Dynamic behavior of Aid; 2. Share of the leading primary commodity export (97-99); 3. Share of the Top Three Primary Commodities, (1997-99); 4. Instability indices of prices of major primary commodities during 1957-1999; 2. Steady state values; 3. Sensitivity analysis; 6. Welfare cost under alternative model specifications |
7. Welfare gains from indexed Aid 4. Stationary capital distribution; 8. Welfare gains from indexed Aid; 9. Welfare gains from indexed Aid; References; References |
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Sommario/riassunto |
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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. |
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