国外经济援助的有效性

A Contribution to the Empirics of the Effectiveness of Foreign Aid

消费者是否具有遗赠动机,直接影响消费者的消费和储蓄决策。在本文中,作者利用一个具有遗赠动机的交叠世代模型研究国外经济援助的有效性。作者发现,国外经济援助对于受援国资本积累的影响在一定的条件下是非线性的,具有典型的临界值效果。这一发现从一个不同的侧面支持了当代跨国经济增长研究中的"收敛俱乐部"观点和"临界值效果"观点,有助于解释关于国外经济援助有效性的经验研究中广泛存在的争议。利用跨国面板数据所做的临界值回归分析支持理论模型的主要结论。

Bequest motive has direct effects on representative consumer＇s consumption and saving decisions. In this paper, the author uses an overlapping-generations model with bequests to-investigate the effectiveness of foreign aid. 1 find that, under certain circumstances, the impact of foreign aid on recipient country＇s capital accumulation is non-linear, exhibiting the typical kind of threshold effects. This theoretical finding is consistent with viewpoints such as ＂convergence clubs＂ and ＂threshold externalities＂ in recent cress-country growth literature, and is helpful to explain the severe controversies in the empirical literature about the effectiveness of foreign aid. The results of threshold regression analyses using cross-country longitudinal data are consistent with the main conclusions of the theoretical model.