Aid, Growth, And Real Exchange Rate Dynamics:
Devarajan, Go, Page, Robinson, and Thierfelder argued that if aid is about the future and recipients are able to plan consumption and investment decisions optimally over time, then the potential problem of an aid-induced appreciation of the real exchange rate (Dutch disease) does not occur. In their...
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| Main Authors: | , , , , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
The World Bank
2008
|
| Series: | Policy research working paper
4480 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | Devarajan, Go, Page, Robinson, and Thierfelder argued that if aid is about the future and recipients are able to plan consumption and investment decisions optimally over time, then the potential problem of an aid-induced appreciation of the real exchange rate (Dutch disease) does not occur. In their paper, "Aid, Growth and Real Exchange Rate Dynamics," this key result is derived without requiring extreme assumptions or additional productivity story. The economic framework is a standard neoclassical growth model, based on the familiar Salter-Swan characterization of an open economy, with full dynamic savings and investment decisions. It does require that the model is fully dynamic in both savings and investment decisions. An important assumption is that aid should be predictable for intertemporal smoothing to take place. If aid volatility forces recipients to be constrained and myopic, Dutch disease problems become an issue |
| Physical Description: | 1 Online-Ressource (42 Seiten) |
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| 245 | 1 | 0 | |a Aid, Growth, And Real Exchange Rate Dynamics |c Shantayanan Devarajan, Delfin S. Go, John Page, Sherman Robinson, and Karen Thierfelder |
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| 520 | 3 | |a Devarajan, Go, Page, Robinson, and Thierfelder argued that if aid is about the future and recipients are able to plan consumption and investment decisions optimally over time, then the potential problem of an aid-induced appreciation of the real exchange rate (Dutch disease) does not occur. In their paper, "Aid, Growth and Real Exchange Rate Dynamics," this key result is derived without requiring extreme assumptions or additional productivity story. The economic framework is a standard neoclassical growth model, based on the familiar Salter-Swan characterization of an open economy, with full dynamic savings and investment decisions. It does require that the model is fully dynamic in both savings and investment decisions. An important assumption is that aid should be predictable for intertemporal smoothing to take place. If aid volatility forces recipients to be constrained and myopic, Dutch disease problems become an issue | |
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| 650 | 4 | |a Extreme Poverty | |
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| 650 | 4 | |a Macroeconomics and Economic Growth | |
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| 650 | 4 | |a Open Economy | |
| 650 | 4 | |a Private Sector Development | |
| 650 | 4 | |a Productivity | |
| 650 | 4 | |a Savings | |
| 650 | 4 | |a Side Effects | |
| 700 | 1 | |a Go, Delfin S. |0 (DE-588)170804704 |4 aut | |
| 700 | 1 | |a Page, John |0 (DE-588)1211197557 |4 aut | |
| 700 | 1 | |a Thierfelder, Karen E. |0 (DE-588)17120042X |4 aut | |
| 700 | 1 | |a Robinson, Sherman |0 (DE-588)170222497 |4 aut | |
| 776 | 0 | 8 | |i Reproduktion von |a Devarajan, Shantayanan, 1954- |t Aid, Growth, And Real Exchange Rate Dynamics |d 2008 |
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| author | Devarajan, Shantayanan 1954- Go, Delfin S. Page, John Thierfelder, Karen E. Robinson, Sherman |
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| physical | 1 Online-Ressource (42 Seiten) |
| psigel | ZDB-1-WBA |
| publishDate | 2008 |
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| publisher | The World Bank |
| record_format | marc |
| series2 | Policy research working paper |
| spellingShingle | Devarajan, Shantayanan 1954- Go, Delfin S. Page, John Thierfelder, Karen E. Robinson, Sherman Aid, Growth, And Real Exchange Rate Dynamics Currencies and Exchange Rates Debt Debt Markets Economic Theory and Research Emerging Markets Equilibrium Extreme Poverty Finance and Financial Sector Development Incentive Effects Macroeconomic Management Macroeconomics and Economic Growth Marginal Productivity Open Economy Private Sector Development Productivity Savings Side Effects |
| title | Aid, Growth, And Real Exchange Rate Dynamics |
| title_auth | Aid, Growth, And Real Exchange Rate Dynamics |
| title_exact_search | Aid, Growth, And Real Exchange Rate Dynamics |
| title_full | Aid, Growth, And Real Exchange Rate Dynamics Shantayanan Devarajan, Delfin S. Go, John Page, Sherman Robinson, and Karen Thierfelder |
| title_fullStr | Aid, Growth, And Real Exchange Rate Dynamics Shantayanan Devarajan, Delfin S. Go, John Page, Sherman Robinson, and Karen Thierfelder |
| title_full_unstemmed | Aid, Growth, And Real Exchange Rate Dynamics Shantayanan Devarajan, Delfin S. Go, John Page, Sherman Robinson, and Karen Thierfelder |
| title_short | Aid, Growth, And Real Exchange Rate Dynamics |
| title_sort | aid growth and real exchange rate dynamics |
| topic | Currencies and Exchange Rates Debt Debt Markets Economic Theory and Research Emerging Markets Equilibrium Extreme Poverty Finance and Financial Sector Development Incentive Effects Macroeconomic Management Macroeconomics and Economic Growth Marginal Productivity Open Economy Private Sector Development Productivity Savings Side Effects |
| topic_facet | Currencies and Exchange Rates Debt Debt Markets Economic Theory and Research Emerging Markets Equilibrium Extreme Poverty Finance and Financial Sector Development Incentive Effects Macroeconomic Management Macroeconomics and Economic Growth Marginal Productivity Open Economy Private Sector Development Productivity Savings Side Effects |
| url | https://documents.worldbank.org/en/publication/documents-reports/documentdetail/810491468315280721 |
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