FOREIGN AID, AID UNCERTAINTY AND PRIVATE INVESTMENT IN WEST AFRICA: AN UNOBSERVED COUNTRY EFFECTS MODEL | Zendy

Eberechukwu Uneze | Zendy

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FOREIGN AID, AID UNCERTAINTY AND PRIVATE INVESTMENT IN WEST AFRICA: AN UNOBSERVED COUNTRY EFFECTS MODEL

Author(s) -

Eberechukwu Uneze

Publication year - 2012

Publication title -

journal of economic development

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.178

H-Index - 3

eISSN - 2636-0578

pISSN - 0254-8372

DOI - 10.35866/caujed.2012.37.4.005

Subject(s) - economics , foreign direct investment , investment (military) , aid effectiveness , developing country , international economics , macroeconomics , econometrics , economic growth , political science , politics , law

This paper examines whether foreign aid has any impact on private investment in West Africa, taking other determinants of private investment into account. Following from this, the paper investigates whether multilateral aid and bilateral aid affect private investment differently. In a related analysis, the paper examines the impact of aid uncertainty (aid volatility) on private investment. The results show that multilateral aid affects private investment positively, but not bilateral aid, and uncertainty measured as the coefficient of variation has a negative impact on private investment and therefore reduces the impact of aid on private investment.

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