This book brings together for the first time in a single volume
a complete survey of the theoretical foundations of economic aid
policies and a critical analysis of aid programs and practices. The
book focuses on the contributions of familiar economic growth
models and other economic and social theories of development to
foreign aid practices, and provides a broad and penetrating
overview of the economics of foreign aid.
At the macroanalytical level, the author investigates the
savings constraint and the foreign exchange constraint approaches
and the models employed for determining the quantity of external
capital required for achieving growth goals under varying economic
conditions in the recipient economies. The author examines other
approaches to aid requirements (including the capital absorptive
approach), analyzes debt service capacity, and reviews various debt
cycle models. The nature and significance of indicators of economic
performance are investigated, and both theoretical and practical
policy issues relating to the employment of aid as a means of
influencing domestic policies are analyzed. In his final chapter,
the author applies his theoretical conclusions to the formulation
of an integrated approach to foreign aid, encompassing the major
foreign assistance problems faced today.
A clear and comprehensive text for every student of development
economics, as well as the most thorough reference of its kind for
professional economists, the book, a volume in the Aldine Treatises
in Modem Economics series, will be useful to all who are concerned
with the analysis, development, and execution of aid programs.
"Raymond F. Mikesell" is professor emeritus of economics at the
University of Oregon. He has been consultant to various branches of
the government, including the Agency for International Development,
the Treasury Department, the Department of State, Congress, and the
President, as well as to the Inter-American Development Bank, the
Pan American Union, and the World Bank.
General
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