Post-Conflict Aid, Real Exchange Rate Adjustment, And Catch-Up Growth
Post-Conflict Aid, Real Exchange Rate Adjustment, And Catch-Up Growth:

Post-conflict countries receive substantial aid flows after the start of peace. While post-conflict countries' capacity to absorb aid (that is, the quality of their policies and institutions) is built up only gradually after the onset of peace, the evidence suggests that aid tends to peak immed...

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Bibliographische Detailangaben
1. Verfasser: Schmidt-Hebbel, Klaus (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2007
Schlagworte:
Absorptive Capacities
Assets
Conflict and Development
Currencies and Exchange Rates
Current Account
Debt Markets
Depreciation
Development Economics and Aims
Domestic-Currency
Dutch Disease
Economic Growth
Economic Theory and Research
Economies
Economy
Emerging Markets
Equilibrium
Equilibrium Level
Export
Finance and Financial Sector Development
Macroeconomics and Economic Growth
Post Conflict Reconstruction
Poverty Reduction
Private Sector Development
Pro-Poor Growth
Social Conflict and Violence
Social Development
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Volltext
Zusammenfassung:Post-conflict countries receive substantial aid flows after the start of peace. While post-conflict countries' capacity to absorb aid (that is, the quality of their policies and institutions) is built up only gradually after the onset of peace, the evidence suggests that aid tends to peak immediately after peace is attained and decline thereafter. Aid composition broadly reflects post-conflict priorities, with large parts of aid financing social expenditure and infrastructure investment. Aid has significant short-term effects on the real exchange rate (RER), as inferred from the behavior of RER in the world. While moderate RER overvaluation is observed in post-conflicts, it cannot be traced down to the aid flows. The empirical evidence on world growth reveals new findings about the pattern of catch-up growth during post-conflicts and the role of key growth determinants on post-conflict growth. Aid is an important determinant of growth, both generally and more strongly during post-conflict periods. Because RER misalignment reduces growth, RER overvaluation during post-conflicts reduces catch-up growth. Aid and RER overvaluation combined also lower growth. But the negative growth effect of RER overvaluation declines with financial development
Beschreibung:1 Online-Ressource (1 online resource (44 p.))
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