Affiliation:
1. Department of Economics and Geography, University of North Florida, USA
2. ICER, Turin, Italy
Abstract
This paper explores the effects of aid, institutions, and social cohesion on per capita income growth in 34 African countries using the Arellano-Bond dynamic panel GMM estimator. The paper focuses on the interplay of aid and institutions and the interplay of aid and social cohesion. The empirical results indicate that social cohesion enhances the growth effects of aid but there is a threshold effect, suggesting that aid becomes effective in enhancing growth in countries with higher social cohesion. Surprisingly, the results show that beyond a certain level of improvements in institutional quality, institutions (political rights and civil liberties) reduce the effectiveness of aid.
Publisher
World Scientific Pub Co Pte Lt
Subject
Economics and Econometrics,Finance,General Business, Management and Accounting
Cited by
5 articles.
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