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Studies from University of Wyoming in the area of development economics described
May 24th, 2009
According to recent research published in the journal Review of Development Economics, "The author applies the theory of the soft budget constraint to explain some stylized facts regarding the outcomes and practice of international aid, including ineffectiveness, white elephants, and volatility."
"The soft budget constraint can also make aid counterproductive. Nonetheless, actual aid institutions may be constrained optimal responses to soft budgets and commonly suggested reforms such as improved donor coordination in aid, focus on fewer countries and projects, and less volatility of aid may lower the effectiveness of aid," wrote T. Janus and colleagues, University...
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Source: Insurance Business Weekly (2009-05-24)