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The Role of U.S. Assistance in Africa's Economic Development |
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Nearly 50 billion dollars are committed annually in the form of foreign
aid by developed to developing countries. Another $100 billion used to
be committed annually by private commercial banks before the debt
crisis began in 1982. There is over 40 years of experience with foreign
aid. Yet, much of the discussion on effectiveness of aid has tended to
be polemical. A few scholarly studies exist but they are formalistic
cross-country econometric efforts. Others have focused on evaluations
of individual donor-funded projects3, and still others were undertaken
especially to mobilize more aid, or to reform individual aid agencies.
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