A US Republican Senator argued that the US must refuse to subsidize foreign family planning (FP) organizations that use their own funds for abortion-related activities because to support them would indirectly support abortion, since "money is fungible." The "Mexico City gag rule" advocated by Republicans would stop US-funded agencies from providing legal abortion or from engaging in a range of...

It is clear from the implications of growth theory that the impact of aid depends on how it affects savings, investment and government behaviour. In respect of low-income countries, which are the principal aid recipients and the economies for which the issue of the impact of aid on growth is most important, it is government that is most important. This paper presents a review of studies that ad...

Motivation Aid fungibility and aid ownership have largely been discussed separately in the development literature. This is unfortunate because donors often aimed to reduce former increase latter, without fully understanding relationship between them. Purpose We analyse what happens when recipient government takes of its process by examining case Rwanda. Methods approach use a mixed-methods for ...

This article assesses, using a framework derived from lesson-drawing, policy transfer and crisis research, the lessons offered by media abroad past in UK COVID-19 pandemic. The lesson-drawing literature focuses on series of steps questions associated with ‘fungibility’ lessons, literature, its constituent elements threat, uncertainty between ‘routine’ ‘non-routine’ or ‘less routine’ crises. uti...

In today's Lancet, Lu and colleagues1 show that for every dollar of international health aid provided to governments, government health funding falls by US$0·43—1·14. Irrespective of whether this outcome is named fungibility or crowding out,2 mean estimates from many countries suggest a pattern. Without questioning the mean findings of today's study, we argue that explicit policy choices are be...

I study a model of investment by financially constrained firms that are heterogeneous with respect to their exposure to an aggregate liquidity shock. A firm that is susceptible to the shock will mitigate its exposure by purchasing claims issued by a firm that is not. Liabilities of an unaffected firm may earn a liquidity premium due to their fungibility, and because they are backed by productiv...