English, Article, Journal or magazine article edition: Assessing the Aid Allocation and Debt Sustainability Framework: Working Towards Incentive Compatible Aid Contracts Machiko Nissanke; Benno Ferrarini

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Bookmark: http://trove.nla.gov.au/version/30769
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Assessing the Aid Allocation and Debt Sustainability Framework: Working Towards Incentive Compatible Aid Contracts
Author
  • Machiko Nissanke
  • Benno Ferrarini
Physical Description
  • preprint
Notes
  • This paper criticizes the current International Development Association (IDA) aid allocation and debt sustainability framework on the grounds of their over-reliance on the country policy and institutional assessment (CPIA) as the guiding criterion. It argues that CPIA-centred allocation of aid fails to introduce an incentives structure supportive of a genuine donor-recipient partnership, conducive to development. Further, it claims that the CPIA-dependent debt thresholds-central to the new debt sustainability framework-effectively submit sustainability concerns to the policy performance prerogatives of the aid allocation system. Resting on a thin empirical basis, such approach fails to take due account of low-income countries' vulnerability to exogenous shocks, as a key determinant of debt distress. As an alternative to the current CPIA-based scheme, the paper outlines the key features of a state-contingent mechanism, guiding both aid allocation and debt sustainability analysis.
  • foreign aid, economic development, aid allocation, debt sustainability
  • RePEc:unu:wpaper:rp2007-33
Language
  • English
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