The Long-Run Impact of Foreign Aid in 36 African Countries: Insights from Multivariate Time Series Analysis
In: UNU-WIDER working paper 09/2011; 2011/51
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In: UNU-WIDER working paper 09/2011; 2011/51
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Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises - the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global trade. Its success contradicts its characterization as an example of export-led growth and highlights the role of the state, particularly in maintaining and influencing investment. Examination of economic performance and policy responses shows rising dependence on foreign finance around each crisis, and actions by the government to counteract that dependence and bolster the domestic economy while continuing to restructure the economy toward greater emphasis on the private sector. Growth, employment and poverty alleviation have been maintained at the expense of renewed inflation, larger budget deficits, and currency depreciation. The stop-go nature of present macroeconomic policy is the consequence of balancing growth versus inflation, responding to severe external shocks and holding to a growth objective in the face of substantial internal and external criticism.
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This paper uses household panel data from rural Vietnam to explore the effects of having a relative in a position of political or bureaucratic power on farmers' agricultural investment decisions. Our main result is that households significantly increase their investment in land improvement as a result of relatives moving into public office. Connections to office holders appear to be important for investment because they strengthen de facto land property rights and improve access to off-farm employment and to informal loans. The findings underline the importance of informal networks for economic behaviour in environments with developing institutions and markets. They also suggest the presence of an untapped potential for economic development: if households without connections could obtain equally strong property rights and access to credit and insurance as the well-connected households, investment levels would rise substantially.
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In: UNU-WIDER working paper 07/2011; 2011/37
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In: UNU-WIDER working paper 04/2011; 2011/22.
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In: Journal of International Commerce, Economics and Policy (JICEP) ; 03(01):1240006-1
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In: UNU-WIDER working paper 03/2011; 2011/20
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Working paper
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Working paper
In: UNU-WIDER Angle 12/2011; December 2011.
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Working paper
In: African Development Review 23(4):461 - 478. (2011) DOI: 10.1111/j.1467-8268.2011.00299.x
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In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 39, Heft 5, S. 839-850
In: World Development DOI: 10.1016/j.worlddev.2010.09.016
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In: Journal of Globalization and Development 08/2011; 2(1):6-6. DOI: 10.2202/1948-1837.1058
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In: UNU-WIDER 01/2011; WP/17.
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Working paper