A Panel Data Analysis of the Fungibility of Foreign Aid

  title={A Panel Data Analysis of the Fungibility of Foreign Aid},
  author={Tarhan Feyzioğlu and Vinaya Swaroop and Min Zhu},
The donor community has been increasingly concerned that development assistance intended for crucial social and economic sectors might be used directly or indirectly to fund unproductive military and other expenditures. The link between foreign aid and public spending is not straightforward because some aid may be “fungible.” This article empirically examines the impact of foreign aid on the recipient’s public expenditures, using cross-country samples of annual observations for 1971–90. For the… CONTINUE READING
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