Foreign Aid and Growth in Nepal: An Empirical Analysis

Badri Prasad Bhattarai

42 citations0/0 files storedThe Journal of developing areas

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International Development and Aid Economic Growth and Productivity Natural Resources and Economic Development

Abstract

Using cointegration and error correction mechanism, this paper investigates the effectiveness of aid in Nepal during the period 1983-2002. Specifically, it examines the long-run relationship between aid and per capita real GDP. To address the current debate on whether aid works only in a good policy environment, we have included policy variables for macroeconomic stability, financial sector development and openness in an extended model. The results show that foreign aid has a positive and statistically significant effect on per capita real GDP in the long-run. More importantly, aid effectiveness improves in the presence of good policy environment.

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References

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