Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (26 page)
Read Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa Online
Authors: Dambisa Moyo
Organisation for Economic Co-operation and Development, ‘Untying Aid to the Least Developed Countries’, Policy Brief,
OECD Observer
, 2001, at
http://www.oecd.org/dataoecd/16/24/2002959.pdf
—, ‘Aid flows top USD 100 billion in 2005’, 4 April 2006, at
http://www.oecd.org/document/40/0,2340,en2649201185364183441111,00.html
—, ‘Is It ODA?’, Development Assistance Committee (DAC) Factsheet, May 2007, at
http://www.oecd.org/dataoecd/21/21/34086975.pdf
Paloni, A. and Maurizio Zanardi (eds.),
Regional Aid Flows: The IMF, WB and Policy Reform
, London: Routledge, 2006
Parker, J., I. Singh and K. Hattel, ‘The Role of Microfinance in the Fight against HIV/AIDS’, UNAIDS United Nations Joint Programme on HIV/AIDS, 15 September 2000
Patricof, A., ‘Trade not aid will meet Africa’s challenges’,
Financial Times
, 3 March 2005
Pearce, Kimber C., ‘Rostow, Kennedy and the Rhetoric of Foreign Aid’, East Lansing: Michigan State University Press, 2001
Perry, Alex, interview with Rwanda’s President Kagame,
Time
, September 2007, at
http://www.time.com/time/magazine/article/0,9171,1666064,00.html
Pew Global Attitudes Project, report on ‘Global Unease with Major World Powers’, 27 June 2007
Polity IV Project, ‘Political Regime Characteristics and Transitions, 1800–2006’, at
http://www.systemicpeace.org/polity/polity4.htm
Przeworski Adam, José Antonio Cheibub, Fernando Papaterra Limongi Neto and Michael M. Alvarez, ‘What Makes Democracies Endure?’,
Journal of Democracy
, 7 (1996), 1, pp. 39–55
Radelet, Steven,
Challenging Foreign Aid: A Policymaker’s Guide to the Millennium Challenge Account
, Washington, DC: Center for Global Development, 2003
Rajan, Raghuram, ‘Foreign Capital and Economic Growth’, paper presented at a conference organized by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, 25 August 2006 (based on a paper written by Eswar Prasad, Raghuram Rajan and Arvind Subramanian)
Rajan, Raghuram G. and Arvind Subramanian, ‘What Undermines Aid’s Impact on Growth?’, IMF Working Paper WP/05/126, 2005
—, ‘Aid and Growth: What Does the Cross-Country Evidence Really Show?’, IMF Working Paper WP/05/127, 2005
Ratha, Dilip, ‘Remittances: A Lifeline for Development’,
Finance and Development
, 42 (2005), 4
Ratha, D., S. Mohapatra and S. Plaza, ‘Beyond Aid: New Sources and Innovative Mechanisms for Financing Development in Sub-Saharan Africa’, The World Bank Development Prospects Group Working Paper WPS4609, April 2008
Reichel, R., ‘Development Aid, Savings and Growth in the 1980s: A Cross-section Analysis’,
Savings and Development
, 19 (1995), 3, pp. 279–96
Rodrik, Dani,
In Search of Prosperity
, Princeton, NJ: Princeton University Press, 2003
Rose-Ackerman, Susan, Copenhagen Consensus Challenge Paper, ‘The Challenge of Poor Governance and Corruption’, Centre for International Economic Studies, 2004
Ruhashyankiko, Jean François, ‘Why Do Some Countries Manage to Extract Growth from Foreign Aid?’, IMF Working Paper WP/05/53, March 2005
Sachs, Jeffrey,
The End of Poverty: Economic Possibilities for Our Time
, London: Penguin, 2005
Sachs, J. and A. Warner, ‘Economic Reform and the Process of Global Integration’,
Brookings Papers on Economic Activity
(1995), 1, pp. 1–118
Sachs, J. D. and J. W. McArthur, ‘Millennium Project: A Plan for Meeting the Millennium Development Goals (MDG)’,
The Lancet
(2005), 365, pp. 347–53, 12 January 2005, at
http://www.earth.columbia.edu/news/2005/images/lancet012205.pdf
Sachs, J. D., J. W. Mcarthur, G. Schmidt-Traub, M. Kruk, Faye M. Bahadur and G. McCord, ‘Ending Africa’s Poverty Trap’,
Brookings Papers on Economic Activity
(2004), 2, pp. 117–216, and at
http://www.unmillenniumproject.org/documents/BPEAEndingAfricasPovertyTrapFINAL.pdf
Sanger, David. E., ‘Bush plan ties foreign aid to free market and civic rule’,
The New York Times
, 26 November 2002
Schreiner, Mark, ‘A cost effectiveness analysis of the Grameen Bank’, Overseas Development Institute, Center for Social Development, Washington University in St Louis, 2003
scienceinafrica, Integrated Regional Information Networks, 2002, ‘Developing countries call for scrapping of farm subsidies’, 27 August 2002, at
http://www.scienceinafrica.co.za/2002/august/farm.htm
Sen, Amartya,
Development as Freedom
, New York: Anchor, 2000
Standard & Poor’s, ‘Sovereign Ratings in Africa’, April 2007
Stiglitz, Joseph E. and Andrew Charlton, ‘A Development Round of Trade Negotiations?’, 2004, at
http://www2.gsb.columbia.edu/faculty/jstiglitz/download/2004CharltonStiglitz.pdf
—, ‘Aid for Trade: A Report for the Commonwealth Secretariat’, March 2006
Stockholm International Peace Research Institute:
http://www.sipri.org/
Strobbe, Francesco, ‘The Role of Microfinance in Addressing the HIV/AIDS Pandemic in Zambia: The Rainbow Model Provides a Future for AIDS Orphans’, European Central Bank, April 2005
Sturzenegger F. and J. Zettelmeyer, ‘Sovereign Defaults and Debt Restructurings’, in
Debt Defaults and Lessons from a Decade of Crises
, Cambridge, Mass.: MIT Press, 2006
Sutherland, P., ‘The real trade barriers that hinder poor countries’,
International Herald Tribune
, 29 January 2005
Svensson, J., ‘When is Foreign Aid Policy Credible? Aid Dependence and Conditionality’,
Journal of Development Economics
(2000), 61, pp. 61–84
—, ‘Why Conditional Aid Does Not Work and What Can be Done about It’,
Journal of Development Economics
(2003), 70, pp. 381–402
—, ‘Foreign aid and rent-seeking’,
Journal of International Economics
, 51 (2000), 2, pp. 437–61
Tarp, Finn (ed.),
Foreign Aid and Development: Lessons Learnt and Directions for the Future
, New York: Routledge, 2000
Tavares, José, ‘Does Foreign Aid Corrupt?’,
Economics Letters
, 2003
Tertius, Zongo, ‘Cotton, Sugar, and Groundnuts: A Political Economy of Credibility’, paper presented at the Annual Bank Conference on Development Economics, Europe, Paris, 15–17 May 2003
Thorbecke, Erin, ‘The Evolution of the Development Doctrine and the
Role of Foreign Aid, 1950–2000’, in Tarp (ed.),
Foreign Aid and Development
Toxopeus, H. and R. Lensink, ‘Remittances and Financial Inclusion in Development’, United Nations University Research Paper No. 2007/49, August 2007, UNU-WIDER
Transparency International, Annual Report (various issues), at
http://www.transparency.org/publications/publications/annualreports/annualreport2007
United Kingdom Department for International Development (DFID), ‘BME Remittance Survey – Research Report Prepared by ICM’, 27 July 2006
United Nations, Charter of Economic Rights and Duties of States, GA Res. 3281(xxix), UN GAOR, 29th Sess., Supp. No. 31 (1974) 50
—, ‘Microfinance in Africa: Combining the Best Practices of Traditional and Modern Microfinance Approaches towards Poverty Eradication’, at
http://www.un.org/esa/africa/microfinanceinafrica.pdf
—, report by the Secretariat of the United Nations Conference on Trade and Development, UN, Geneva, 2002, at
http://www.unctad.org/en/docs/tdr2002en.pdf
—, ‘Resource Flows to Africa: An Update on Statistical Trends, between 2000 and 2003’, at
www.un.org/africa/osaa
—, ‘Remittances to Africa overtake Foreign Direct Investment’, at
http://www.un.org/africa/osaa/press/Promoting%20International%20support%20for%20peace%20and%20development%20%85.pdf
US Government, Marshall Plan Congressional Record, 30 June 1947, at
http://usinfo.state.gov/usa/infousa/facts/democrac/57.htm
—, African Growth and Opportunities Act 2000, at
http://www.agoa.gov/
Vásquez, Ian, Testimony before the International Financial Institution Advisory Commission, United States Congress. ‘The International Monetary Fund: Challenges and Contradictions’, 28 September 1999
Vision of Humanity, ‘Global Peace Index 2008’
Watkins, Kevin, ‘Cultivating Poverty: The Impact of US Cotton Subsidies on Africa’, Oxfam Briefing Paper, 2002
Wexler, Immanuel,
The Marshall Plan Revisited: The European Recovery Program in Economic Perspective
, London: Greenwood Press, 1983
White, Howard and A. Geske Dijkstra,
Beyond Conditionality: Programme Aid and Development
, London: Routledge (forthcoming)
Winters, Jeffrey A., ‘Combating corruption in Multilateral Development Banks’, Hearing before the Committee on Foreign Relations, United States Senate, One Hundred Eighth Congress, Second Session, 13 May 2004
Wood, Robert E.,
From Marshall Plan to Debt Crisis: Foreign Aid and Development Choices in the World Economy
, Berkeley: University of California Press, 1986
World Bank, ‘Why the Name IBRD?’, at
http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/EXTARCHIVES/0,,contentMDK:20113929~pagePK:36726~piPK:36092~theSitePK:29506,00.htm
—, anti-corruption website, at
http://www.worldbank.org/anticorruption
—, World Development Indicators, various years
—, ‘Migration, Remittances and Economic Development’, presentation at the International Symposium on International Migration and Development, Turin, 28–30 June 2006
—, ‘World Bank Structural and Sectoral Adjustment Operations: The Second OED Review’, Operations Evaluation Department, Washington, DC, 1992
—, ‘Adjustment Lending in Sub-Saharan Africa: An Update’, Operations Evaluation Department, Washington, DC, 1997
World Economic Forum, ‘Blended Value Investing: Capital Opportunities for Social and Environmental Impact’, March 2006
Zambian Presidential Address to Parliament: President Levy Mwanawasa’s address to the National Assembly, 11 July 2002
Writing this book has been a multi-year project. It has been a challenging, exhilarating, wonderful and exasperating journey. Along the way, I was fortunate enough to meet the right persons at the right time. In their own unique way, each person made an invaluable contribution, more than they realize.
Very early in the process, when the book idea was just germinating, I met Philip Gould. His candour and guidance and confidence in me played a central role in the production of this book. So too have a number of extremely valuable brainstorming sessions with Tim Sebastian.
After many years of searching, I then met Caroline Michel, who has been nothing less than an agent extraordinaire! Anyone who has had the privilege of working with her will know exactly what I mean.
Over the years, I have greatly benefited from the conscientious research support of a number of people. In alphabetical order, I owe a great debt of gratitude to Steve Donze, Selim Gulesci, Gokce Hagnesten, Fatima Khan, Peter Nthepe, and Michael Wang. They have, in their own individual ways, left an indelible mark on the project.
In the spring of 2008, at what was arguably the most treacherous part of my whole book-writing process, I met Tim Binding. Without Tim, this book might never have been completed. I thank him for his patience and encouragement when I needed it most.
I have incorporated a range of excellent comments from Geordie Young, Peter Henry, Willem Buiter, Niall Ferguson and Rory Macfarquhar. This is without attribution. All errors and omissions are my own.
An enormous amount of gratitude is also due to the meticulous publishing team at Penguin. My editor, Will Goodlad, Gina Luck in Sales, Mark Handsley for thorough copy-editing, Nicola Hill, Jessica Price, and Pen Volger, all of whom had an important hand in getting the book from my mind to publication. And of course the publishing
team at Farrar, Straus, and Giroux: Jonathan Galassi, Eric Chinski and Eugenie Cha have been nothing short of fantastic.
I thank Iris Mwanza, my oldest and dearest friend, for her indulgence. She was always there as I suffered and revelled at different stages of the expedition.
Finally, to my parents, Steven and Orlean Moyo, for their unwavering belief in me (and our continent Africa) every step of the way, even when there have been many reasons not to believe.
Acleda (Cambodia)
132
Afghanistan
132
Africa: Geography and Growth
(Collier)
30
African Growth and Opportunity Act 2000 (US)
118
,
149
Alesina, Alberto
52
Annan, Kofi
101
Asian financial crisis 1997
84
,
87
Association of Southeast Asian Nations
124
Bachelet, Michelle
43
Banco do Brasil
134
Banco do Nordeste (Brazil)
132
Bangladesh
126
Benguela railway
106
Beyond Aid
(World Bank)
134
Black and Minority Ethnic Remittance Survey, The
133
Black Economic Empowerment regulations (SA)
111
Blue Orchard Finance
131
Blumenthal, Irwin
53
Bongo, President Omar
6
Bono
27
Botswana
abandoning foreign aid
144
