Can One Promote a Delegation of the Bilateral Aid to Multilateral Donors to Improve Foreign Aid Effect on Economic Growth in ECOWAS (Note 1) Countries?

W. J. M. Kébré
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Abstract

This article analyzes the relationship between external aid and economic growth in the ECOWAS region, with a focus on bilateral and multilateral aid effects. The key idea behind this analysis is an argument of Svensson (2000) that multilateral aid is more effective than bilateral aid because of the high degree of altruism of bilateral donors. He therefore suggested a delegation of bilateral aid to multilateral institutions. To appreciate his suggestion, this analysis used panel data from the 16 ECOWAS countries from the period 1984 to 2014. The results of the estimates, based on the dynamic least squares estimator (DOLS), show a negative effect of foreign aid on economic growth. This negative effect on economic growth persists when the components of aid are introduced into the model. In addition, results highlight that governance is a channel through which foreign aid affect positively economic growth. In these conditions, bilateral aid is more effective on economic growth than multilateral aid. These results about foreign aid received by ECOWAS countries invalidates Svensson’s (2000) theory. Therefore, a delegation of bilateral aid to multilateral institutions is not relevant because bilateral aid contributes more to economic growth if governance is taken into account.

能否促进双边援助向多边捐助者的授权,以改善外援对西非经共体(注1)国家经济增长的影响?
本文分析了西非经共体地区的外部援助与经济增长之间的关系,重点分析了双边和多边援助的影响。这一分析背后的关键思想是Svensson(2000)的一个论点,即多边援助比双边援助更有效,因为双边捐助者的利他主义程度很高。因此,他建议向多边机构派遣一个双边援助代表团。为了理解他的建议,本分析使用了1984年至2014年期间16个西非经共体国家的面板数据。基于动态最小二乘估计(DOLS)的估计结果表明,外援对经济增长具有负向影响。当援助的组成部分被引入模型时,这种对经济增长的负面影响仍然存在。此外,研究结果还强调,治理是外援对经济增长产生积极影响的一个渠道。在这种情况下,双边援助比多边援助对经济增长更有效。这些关于西非经共体国家接受外援的结果否定了Svensson(2000)的理论。因此,将双边援助授权给多边机构是不相关的,因为如果考虑到治理,双边援助对经济增长的贡献更大。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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