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IMF Working Papers
2008
INTERNATIONAL MONETARY FUND

A dynamic dependent-economy model is developed to investigate the role of the real exchange rate in determining the effects of foreign aid. If capital is perfectly mobile between sectors, untied aid has no longrun impact on the real exchange rate. A decline in the traded sector occurs because aid, being denominated in traded output, substitutes for exports in finan...

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18
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IMF Working Papers
2008
INTERNATIONAL MONETARY FUND

A dynamic dependent-economy model is developed to investigate the role of the real exchange rate in determining the effects of foreign aid. If capital is perfectly mobile between sectors, untied aid has no longrun impact on the real exchange rate. A decline in the traded sector occurs because aid, being denominated in traded output, substitutes for exports in finan...

0
15
0
0
IMF Working Papers
2008
INTERNATIONAL MONETARY FUND

A dynamic dependent-economy model is developed to investigate the role of the real exchange rate in determining the effects of foreign aid. If capital is perfectly mobile between sectors, untied aid has no longrun impact on the real exchange rate. A decline in the traded sector occurs because aid, being denominated in traded output, substitutes for exports in finan...

0
17
0
0
Publications & Research :: Policy Research Working Paper
World Bank, Washington, DC
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129
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