There is widespread belief that the high interest rates of the 1980s and 1990s in the developed world have been caused by high budget deficits. Yet, there is no conclusive evidence to support such a belief. This book systematically examines this and other questions relating to the behaviour of real interest rates in 11 developed countries. The results show that generalizations across the countries can be hazardous and strongly suggests that factors specific to individual countries are still of vital importance.

Foreign aid has been an area of active scholarly investigation since the end of the Second World War, but particularly since the early 1950s when a large number of the erstwhile colonies became independent. Few areas of public policy involving the developed and developing countries have aroused more passion and ideological debate than foreign aid.
In spite of the massive amount of research in the field, there is still not enough work in two areas: the first involves the mechanisms through which aid influences the economies of the donor and the recipient countries; and the second,...

Even after half a century of work and much criticism, the driving importance of foreign aid shows no sign of abating. Widespread and acute poverty still ravages many countries of the world, and the understanding of how aid affects the economies of the recipient countries is still far from perfect. These two factors alone warrant the examination offered in this book.
The contents of this work try to bring together many strands of the literature, many of which are new and have a bearing on the subject of aid but which have as yet not found their way into the mainstream of the literature....