Dead aid: Why aid is not working and how there is a better way for Africa

Dead aid: Why aid is not working and how there is a better way for Africa Rev Austrian Econ (2009) 22:431–432 DOI 10.1007/s11138-009-0092-6 Dead aid: Why aid is not working and how there is a better way for Africa Johan van der Walt Published online: 8 July 2009 Springer Science + Business Media, LLC 2009 Dambisa Moyo’s new book, Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa, has received a great deal of attention in the last few months. Her first two points, international aid has not only been ineffective but it has also added to the dysfunctionality of many countries, adds to a long literature in the subject matter. However, her third point, that a world without aid would produce better economic growth, makes a new contribution. While I strongly agree with her first two arguments, her third warrants further consideration. This concern notwithstanding, Moyo’s book is a must-read for any person interested in the question of why some countries are rich while others remain stagnant or poor. Moyo correctly states that “development finance”—the money used to finance development projects—necessitates a new way of thinking. Currently, many open- ended aid commitments exist where donor countries and multilateral agencies keep financing projects without clear prospects for results http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Dead aid: Why aid is not working and how there is a better way for Africa

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Publisher
Springer US
Copyright
Copyright © 2009 by Springer Science+Business Media, LLC
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1007/s11138-009-0092-6
Publisher site
See Article on Publisher Site

Abstract

Rev Austrian Econ (2009) 22:431–432 DOI 10.1007/s11138-009-0092-6 Dead aid: Why aid is not working and how there is a better way for Africa Johan van der Walt Published online: 8 July 2009 Springer Science + Business Media, LLC 2009 Dambisa Moyo’s new book, Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa, has received a great deal of attention in the last few months. Her first two points, international aid has not only been ineffective but it has also added to the dysfunctionality of many countries, adds to a long literature in the subject matter. However, her third point, that a world without aid would produce better economic growth, makes a new contribution. While I strongly agree with her first two arguments, her third warrants further consideration. This concern notwithstanding, Moyo’s book is a must-read for any person interested in the question of why some countries are rich while others remain stagnant or poor. Moyo correctly states that “development finance”—the money used to finance development projects—necessitates a new way of thinking. Currently, many open- ended aid commitments exist where donor countries and multilateral agencies keep financing projects without clear prospects for results

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Jul 8, 2009

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