The Failure of Development Aid

Abstract

In the last half century, developed countries have paid increasing attention to the problems of developing countries. Not only has the disastrously low level of economic development in large parts of the world become apparent over time, but also all the undesired side effects of enduring poverty: poor health, widespread diseases, low life expectancy, and the general lack of means of entire nations to deal with basic needs. Wealthy countries do not necessarily have purely unselfish motives when helping poorer countries through financial aid. Part of any aid constantly flows back to donors through highly stipulated procurement contracts. Aid has also increased the potential for donors to buy preferential future treatment for the business firms of their own nationality. Politically, aid can be seen as serving to buy increased international and regional clout through new political allies. Moreover, aid may bring more stability to world affairs, assuming it increases economic growth in recipient countries. Development aid is also seen as a way to advance some core values of the donors. Despite the steady flow of development aid to poor countries in the last 50 years, the results have been somewhat disappointing, as noted

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