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Spring 2009

ISSN 0890-913X

Volume 24, Number 2

Categories: Economics | Spring 2009

Development and the Political Economy of Foreign Aid

Jason Sorens, SUNY-Buffalo

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TheJournalofPrivateEnterprise24(2),2009,87-100DevelopmentandthePoliticalEconomyofForeignAidJasonSorens*UniversityatBuffalo,SUNYAbstractThisessaycriticallyreviewsfindingsontheeconomiceffectsofforeigndevelopmentaidandlending,andonthe“high”and“low”politicsofaid.Althoughaidappearsnottoincreasegrowth,reducecorruption,orincreaserevenuesinrecipientcountries,donorcountriesareunlikelytoreformaidandlendingprogramsbecausetheseprogramssuccessfullyservepoliticalpurposes.Alternativestopubliclyfundedaidareconsidered.JELCodes:F35,F53,F59Keywords:Foreignaid;Development;InternationalMonetaryFund;WorldBankI.IntroductionInarecentessayfortheonlinemagazineCatoUnbound,economistWilliamEasterly(2006)describedthefailureofaidtothedevelopingworldintheseterms:ThisisthetragedyinwhichtheWestalreadyspent$2.3trilliononforeignaidoverthelast5decadesandstillhadnotmanagedtoget12-centmedicinestochildrentopreventhalfofallmalariadeaths.TheWestspent$2.3trillionandstillhadnotmanagedtoget$4bednetstopoorfamilies.TheWestspent$2.3trillionandstillhadnotmanagedtoget$3toeachnewmothertoprevent5millionchilddeaths.*Theauthorthanksparticipantsinthe2008AssociationofPrivateEnterpriseEducationconferenceforhelpfulcommentsandacknowledgesresearchsupportfromtheIndependentInstitute.ThisessaywasawardedSecondPrizeintheJuniorFacultyDivisionofthe2007OliveW.GarveyFellowshipsCompetition,sponsoredbyTheIndependentInstitute.Theusualdisclaimersapply.87

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Metadata [hide]

Title	Development and the Political Economy of Foreign Aid
Authors/Creators:	Jason Sorens, SUNY-Buffalo
Year:	2009
Volume:	24
Number:	2
Pages:	87 - 100
Publisher:	The Association for Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Economic and social development, Political economy, Economic development, Economic aid, Development aid, Financial administration, International economic relations, Investment, Private enterprises, Industrial policy, Trade, Market economy, Government policy

Citation:
Sorens, Jason / 2009. "Development and the Political Economy of Foreign Aid." The Journal of Private Enterprise, 24(2): 87-100.