LEADER 04921oam 22010934 450 001 9910809282903321 005 20200520144314.0 010 $a1-4623-5786-5 010 $a1-4519-8833-8 010 $a1-283-36410-7 010 $a9786613823540 010 $a1-4519-0997-7 035 $a(CKB)3360000000443350 035 $a(EBL)3012516 035 $a(SSID)ssj0000948638 035 $a(PQKBManifestationID)11580260 035 $a(PQKBTitleCode)TC0000948638 035 $a(PQKBWorkID)10950192 035 $a(PQKB)11013519 035 $a(OCoLC)535146901 035 $a(IMF)WPIEE2006284 035 $a(MiAaPQ)EBC3012516 035 $a(IMF)WPIEA2006284 035 $a(EXLCZ)993360000000443350 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSolow Versus Harrod-Domar : $eReexamining the Aid Costs of the First Millennium Development Goal /$fCarl-Johan Dalgaard, Lennart Erickson 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (42 p.) 225 1 $aIMF Working Papers 300 $aAt head of title: IMF Institute. 300 $a"December 2006." 311 $a1-4518-6544-9 320 $aIncludes bibliographical references (p. 38-40). 327 $a""Contents""; ""I. INTRODUCTION""; ""II. BASIC FRAMEWORK""; ""III. BASELINE CALIBRATIONS""; ""IV. DOMESTIC ADDITIONAL EFFORT, POVERTY TRAPS, AND a???TAKEOFFa???""; ""V. EXTENSIONS""; ""VI. CONCLUDING REMARKS""; ""REFERENCES"" 330 3 $aThe First Millennium Development Goal (MDG#1) is to cut the fraction of global population living on less than one dollar per day in half, by 2015. Foreign aid financed investments may contribute to the attainment of this goal. But how much can aid be reasonably expected to accomplish? A widespread calibration approach to answering this question is to employ the so-called development planning technique, which has the Harrod-Domar growth model at its base. Two particularly problematic assumptions in this sort of analysis are the absence of diminishing returns to capital input and an infinite speed of adjustment to steady state after a shock to the economy. We remove both of these assumptions by employing a Solow model as an organizing framework for an otherwise similar analysis. We find that in order to successfully meet the MDG#1 in the context of the currently proposed aid flows, these flows will have to be accompanied by either an acceleration in the underlying productivity growth rate or a major boost to domestic savings and investment in sub-Saharan Africa. In the absence of such changes in the economic environment, the MDG#1 is unlikely to be reached. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/284 606 $aEconomic assistance 606 $aAggregate Factor Income Distribution$2imf 606 $aAid flows$2imf 606 $aEconomic assistance$2imf 606 $aExports and Imports$2imf 606 $aForeign Aid$2imf 606 $aGovernment Policy$2imf 606 $aIncome$2imf 606 $aIndustrial productivity$2imf 606 $aInternational economics$2imf 606 $aMacroeconomics$2imf 606 $aMacroeconomics: Production$2imf 606 $aPoverty & precarity$2imf 606 $aPoverty and Homelessness$2imf 606 $aPoverty reduction$2imf 606 $aPoverty$2imf 606 $aProduction and Operations Management$2imf 606 $aProductivity$2imf 606 $aProvision and Effects of Welfare Program$2imf 606 $aSocial Services and Welfare$2imf 606 $aSocial welfare & social services$2imf 606 $aWelfare, Well-Being, and Poverty: General$2imf 607 $aSouth Africa$2imf 615 0$aEconomic assistance. 615 7$aAggregate Factor Income Distribution 615 7$aAid flows 615 7$aEconomic assistance 615 7$aExports and Imports 615 7$aForeign Aid 615 7$aGovernment Policy 615 7$aIncome 615 7$aIndustrial productivity 615 7$aInternational economics 615 7$aMacroeconomics 615 7$aMacroeconomics: Production 615 7$aPoverty & precarity 615 7$aPoverty and Homelessness 615 7$aPoverty reduction 615 7$aPoverty 615 7$aProduction and Operations Management 615 7$aProductivity 615 7$aProvision and Effects of Welfare Program 615 7$aSocial Services and Welfare 615 7$aSocial welfare & social services 615 7$aWelfare, Well-Being, and Poverty: General 700 $aDalgaard$b Carl-Johan$01630695 701 $aErickson$b Lennart$01630696 801 0$bDcWaIMF 906 $aBOOK 912 $a9910809282903321 996 $aSolow Versus Harrod-Domar$93969139 997 $aUNINA