Foreign Aid and Real Exchange Rate Adjustments in a Financially Constrained Dependent Economy /

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, b...

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Dettagli Bibliografici
Autore principale: Turnovsky, Stephen
Altri autori: Cerra, Valerie, Tekin, Serpil
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2008.
Serie:IMF Working Papers; Working Paper ; No. 2008/204
Accesso online:Full text available on IMF