Aid and the Dutch Disease in Low-Income Countries : Informed Diagnoses for Prudent Prognoses

This paper demonstrates that the Dutch disease need not materialize in low-income countries that can draw on their idle productive capacity to satisfy the aid-induced increased demand. Diagnoses on, and prognoses for, the Dutch disease should take into account country-specific circumstances to avoid ill-advised policies. The paper emphasizes that using public resources inefficiently can be more painful than real exchange rate appreciations, which may not necessarily embody the Dutch disease.
Publication date: March 2004
ISBN: 9781451846874
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Finance , Finance , Money and Monetary Policy , Money and Monetary Policy , Exchange Rate , and Poverty , dutch disease , real exchange rate , foreign exchange , exchange rates , Economic Growth of Open Economies , Welfare and Poverty: General , Economic Growth and Aggregate Productivity: General

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