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Aid Volatility: An Empirical Assessment Aleš Bulíř and A. Javier Hamann Full Text of this Article (PDF 292K) Abstract: This article examines
empirical evidence on the volatility and uncertainty of aid flows and their main
policy implications. Aid is found to be more volatile than fiscal revenues--particularly
in highly aid-dependent countries--and shortfalls in aid and domestic revenue
tend to coincide. The article also finds that uncertainty about aid disbursements
is large and that the information content of commitments made by donors is either
very small or statistically insignificant. Specific policies and broader international
efforts to cope with these features of aid are briefly discussed. [JEL F35, O19] |
