This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. With official development assistance (ODA) set to rise as cou...

Th e present paper focuses on the role of domestic resource mobilization for fi nancing poverty reduction strategies. Policy makers should be aware of important macroeconomic trade-off s associated with MDG strategies fi nanced from tax increases or domestic borrowing. Th e trade-off s are largely intertemporal: can poor and middle-income countries absorb the initial fi nancing costs in order t...

We study the importance of the local elite as a determinant of the e¤ectiveness of foreign aid in developing countries. An "extractive" elite will misuse aid ‡ows, an issue that is probably as old as foreign aid itself. We proxy for the existence of an "extractive" elite by using an historically determined variable: the percentage of European settlers in colonial times. Our econometric results ...

This paper investigates the impact of the US and China’s foreign aids to Africa on trade flows between donor and recipient countries. Evidence from the gravity model estimates reveals that the two donors’ exports are strengthened by their aids to African partners. Interestingly, China’s aid shows a positive effect on its total volume of trade and imports from Africa, while the aid from the US e...

Charitable giving has increasingly become ‘tough love’ it has come to require recipients to undertake costly prior action. A common justification is that of greater efficiency: willingness to undertake costly actions signals greater productivity from transfers. However, there is a trade-off. Conditions impose a cost, since the activities required are by themselves welfare reducing for at least ...

This paper examines the impact of uncertain capital flows on growth to a group of 60 developing countries during the 1990s. We distinguish between total capital flows, official capital flows and private capital flows. For the three types of capital flows we derive a yearly uncertainty measure. We use the yearly uncertainty measures in ordinary least squares estimates, as well as system GMM esti...

The reaction mechanisms for K (1385) photoproduction from the reaction γp → K+ 0(1385) in the resonance energy region are investigated in a hadronic model. Both contributions from N and resonances of masses around 2 GeV as given in the Review of Particle Data Group and by the quark model predictions are included. The Lagrangians for describing the decays of these resonances into K (1385) are co...

This paper examines the dynamics of the linkages between Shanghai and Hong Kong stock indices. While the volatility linkage is analysed by a multivariate GARCH framework, the dependence of returns is examined by a copula approach. Eight different copula functions are applied in this study including two time varying ones which capture the time varying process of the linkage. The result shows sig...

This paper examines the effects of microfinance, financial development and foreign aid on income inequality for 43 Sub-Saharan African (SSA) countries. Panel data period 1995–2015 is examined using fixed effects, pooled ordinary least square system generalized method moments (GMM) estimation techniques. Findings suggest that although plays a determining role in explaining dynamics SSA, it does ...

Natural mortality (M) is often considered to be one of the most important parameters in a fish stock assessment and affects productivity estimates for population. However, it also among difficult estimate using commonly available data. The magnitude error (both bias variance) when estimating this parameter can substantial affected by ignoring its variation over time, space, age, length. In stud...