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Est‐ce que l’aide étrangère augmente vraiment le revenu per capita? Une approche par les séries chronologiques .
Author(s) -
NowakLehmann Felicitas,
Dreher Axel,
Herzer Dierk,
Klasen Stephan,
MartínezZarzoso Inmaculada
Publication year - 2012
Publication title -
canadian journal of economics/revue canadienne d'économique
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.773
H-Index - 69
eISSN - 1540-5982
pISSN - 0008-4085
DOI - 10.1111/j.1540-5982.2011.01696.x
Subject(s) - economics , per capita income , per capita , crowding out , econometrics , panel data , perspective (graphical) , time series , demographic economics , foreign direct investment , macroeconomics , statistics , mathematics , demography , geometry , population , sociology
. We analyze the relationship between per capita income and foreign aid. We employ annual data and five‐year averages and carefully examine the time‐series properties of the data. Panel estimations with dynamic feasible generalized least‐squares (DFGLS) show that aid generally has an insignificant or minute negative significant impact on per capita income (particularly in highly aid‐dependent countries). This holds true for countries with different levels of human development and income, as well as for different regions. We also find that aid has a small positive impact on investment, but a significant negative impact on domestic savings (crowding out) and the real exchange rate (appreciation). JEL classification: F35, O11, C23, C51