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In an empirical contribution to the literature of foreign aid, we estimate the impact of foreign aid on democracy in a panel of 93 developing economies during 1971–2010. We find that foreign aid promotes democracy, with the result robust to different estimation methodologies and control variables and to instrumenting for foreign aid.

Keywords

  • Foreign Aid, Democracy, Instrumental variables
Original languageEnglish
Pages (from-to)3922-3930
JournalApplied Economics
Volume46
Issue number32
DOIs
Publication statusPublished - 20 Aug 2014
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