Holdings: Grants Versus Loans

Grants Versus Loans:

Under what conditions should grants be preferred to loans? To answer this question, we present a simple model à la Krugman (1988) and show that, for any given level of developmental assistance, the optimal degree of loan concessionality is positively associated with economic growth if countries are...

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Main Author:	Ulku, Hulya (Author)
Format:	Electronic eBook
Language:	English
Published:	Washington, D.C International Monetary Fund 2004
Series:	IMF Working Papers Working Paper No. 04/161
Online Access:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Summary:	Under what conditions should grants be preferred to loans? To answer this question, we present a simple model à la Krugman (1988) and show that, for any given level of developmental assistance, the optimal degree of loan concessionality is positively associated with economic growth if countries are poor, have bad policies, and high debt obligations. We then test our model by estimating a modified growth model for a panel of developing countries, and find evidence supporting our predictions. Finally, we assess the determinants of current aid allocations and find that the degree of concessionality is negatively correlated with countries'' levels of development
Physical Description:	1 Online-Ressource (31 p)
ISBN:	1451857845 9781451857849

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spelling	Ulku, Hulya Verfasser aut Grants Versus Loans Ulku, Hulya Washington, D.C International Monetary Fund 2004 1 Online-Ressource (31 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 04/161 Under what conditions should grants be preferred to loans? To answer this question, we present a simple model à la Krugman (1988) and show that, for any given level of developmental assistance, the optimal degree of loan concessionality is positively associated with economic growth if countries are poor, have bad policies, and high debt obligations. We then test our model by estimating a modified growth model for a panel of developing countries, and find evidence supporting our predictions. Finally, we assess the determinants of current aid allocations and find that the degree of concessionality is negatively correlated with countries'' levels of development Online-Ausg Cordella, Tito Sonstige oth http://elibrary.imf.org/view/IMF001/02900-9781451857849/02900-9781451857849/02900-9781451857849.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Ulku, Hulya Grants Versus Loans
title	Grants Versus Loans
title_auth	Grants Versus Loans
title_exact_search	Grants Versus Loans
title_exact_search_txtP	Grants Versus Loans
title_full	Grants Versus Loans Ulku, Hulya
title_fullStr	Grants Versus Loans Ulku, Hulya
title_full_unstemmed	Grants Versus Loans Ulku, Hulya
title_short	Grants Versus Loans
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