External Development Finance and the Choice of Technology

Abstract

In the period in which aid 2 began to emerge as an important element in relations between developed and developing countries, in the 1950s, it was seen by donors, and more especially by the United States in its relations with its strategic allies in Asia as an instrument of foreign policy. 3 In the early 1960s, perceptions changed. With the initiation of the First Development Decade, the establishment of the OECD’s Development Assistance Committee (DAC) in 1961 and the holding of the first United Nations Conference on Trade and Development (UNCTAD) in 1964, the Western donor countries’ bilateral aid programmes and the multilateral agencies’ programmes came to be seen as part of a worldwide and collective development effort. But there was still not a very precise view of what it was, in developmental terms, that aid was intended to achieve. Donors tended simply to assume that development was identical to growth of national product, and that they were providing resources which in one way or another would contribute to accelerated growth. A more refined collective donors’ view was presented explicitly for the first time in 1968, in the DAC report for that year. It focused attention on identification of the direct beneficiaries of development expenditure, including aid funds, with employment creation and the alleviation of poverty viewed as the main objectives. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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