Dynamic aid allocation

• 成果类型: Article
• 署名作者: Carter, Patrick; Postel-Vinay, Fabien; Temple, Jonathan
• 署名单位: University of Bristol; University of London; University College London; University of London; London School Economics & Political Science
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2014.11.005
• 发表日期: 2015
• 页码: 291-304
• 关键词: foreign aid; Aid allocation; Global redistribution

摘要

This paper introduces a framework for studying the optimal dynamic allocation of foreign aid among multiple recipients. We pose the problem as one of weighted global welfare maximization. A donor in the North chooses an optimal path for international transfers, anticipating that consumption and investment decisions will be made by optimizing households in the South, and accounting for limits in the extent to which recipients can effectively absorb aid. We present quantitative results on optimal aid policy by applying our approach to a neoclassical growth model, where the scope for aid-funded growth is determined by the recipients' distance from steady-state. (C) 2014 The Authors. Published by Elsevier B.V.