Was Development Assistance a Mistake? | Zendy

William Easterly | Zendy

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Was Development Assistance a Mistake?

Author(s) -

William Easterly

Publication year - 2007

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.97.2.328

Subject(s) - hindsight bias , futures studies , mistake , economics , international development , finance , economic growth , political science , law , psychology , artificial intelligence , computer science , cognitive psychology

Development assistance is the combination of money, advice, and conditions from rich nations and international financial institutions like the World Bank and International Monetary Fund designed to achieve economic development in poor nations. This article argues that development assistance was based on three assumptions that, with the benefit of hindsight (although a wise few also had foresight), turned out to be mistaken.

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