Front Matter Page
Research Department
Authorized for distribution by Ashoka Mody and Ratna Sahay
Contents
I. Introduction
II. The Model
A. Unconditional Budget Suppot
B. Conditional Budget Support
C. Project Aid
D. Extensions
III. Empirical Evidence
A. Methodology and Results
B. Robustness
IV. Concluding Remarks
References
Appendix
Proofs
Figure
1. Developmental Good Production under Project Financing and Budget Support
Tables
1. Growth Regression with Individual Policy Variables
2. Growth Regression Using the Polcy Index–OLS
3. Policy Sensitivity of Aid Effectiveness
4. Growth Regression Using the Policy Index–GMM
5. Growth Regression Using the Policy Index–Sensitivity Analysis
6. Descriptive Statistics