04867oam 22010694 450 991078841190332120230828232714.01-4623-5786-51-4519-8833-81-283-36410-797866138235401-4519-0997-7(CKB)3360000000443350(EBL)3012516(SSID)ssj0000948638(PQKBManifestationID)11580260(PQKBTitleCode)TC0000948638(PQKBWorkID)10950192(PQKB)11013519(OCoLC)535146901(MiAaPQ)EBC3012516(IMF)WPIEE2006284(EXLCZ)99336000000044335020020129d2006 uf 0engur|n|---|||||txtccrSolow Versus Harrod-Domar : Reexamining the Aid Costs of the First Millennium Development Goal /Carl-Johan Dalgaard, Lennart EricksonWashington, D.C. :International Monetary Fund,2006.1 online resource (42 p.)IMF Working PapersAt head of title: IMF Institute."December 2006."1-4518-6544-9 Includes bibliographical references (p. 38-40).""Contents""; ""I. INTRODUCTION""; ""II. BASIC FRAMEWORK""; ""III. BASELINE CALIBRATIONS""; ""IV. DOMESTIC ADDITIONAL EFFORT, POVERTY TRAPS, AND “TAKEOFF�""; ""V. EXTENSIONS""; ""VI. CONCLUDING REMARKS""; ""REFERENCES""The First Millennium Development Goal (MDG#1) is to cut the fraction of global population living on less than one dollar per day in half, by 2015. Foreign aid financed investments may contribute to the attainment of this goal. But how much can aid be reasonably expected to accomplish? A widespread calibration approach to answering this question is to employ the so-called development planning technique, which has the Harrod-Domar growth model at its base. Two particularly problematic assumptions in this sort of analysis are the absence of diminishing returns to capital input and an infinite speed of adjustment to steady state after a shock to the economy. We remove both of these assumptions by employing a Solow model as an organizing framework for an otherwise similar analysis. We find that in order to successfully meet the MDG#1 in the context of the currently proposed aid flows, these flows will have to be accompanied by either an acceleration in the underlying productivity growth rate or a major boost to domestic savings and investment in sub-Saharan Africa. In the absence of such changes in the economic environment, the MDG#1 is unlikely to be reached.IMF Working Papers; Working Paper ;No. 2006/284Economic assistanceExports and ImportsimfMacroeconomicsimfProduction and Operations ManagementimfSocial Services and WelfareimfPoverty and HomelessnessimfWelfare, Well-Being, and Poverty: GeneralimfGovernment PolicyimfProvision and Effects of Welfare ProgramimfForeign AidimfAggregate Factor Income DistributionimfMacroeconomics: ProductionimfPoverty & precarityimfSocial welfare & social servicesimfInternational economicsimfPovertyimfPoverty reductionimfAid flowsimfIncomeimfProductivityimfEconomic assistanceimfIndustrial productivityimfSouth AfricaimfEconomic assistance.Exports and ImportsMacroeconomicsProduction and Operations ManagementSocial Services and WelfarePoverty and HomelessnessWelfare, Well-Being, and Poverty: GeneralGovernment PolicyProvision and Effects of Welfare ProgramForeign AidAggregate Factor Income DistributionMacroeconomics: ProductionPoverty & precaritySocial welfare & social servicesInternational economicsPovertyPoverty reductionAid flowsIncomeProductivityEconomic assistanceIndustrial productivityDalgaard Carl-Johan1546560Erickson Lennart1546561DcWaIMFBOOK9910788411903321Solow Versus Harrod-Domar3802255UNINA