Local Financial Development and the Aid-Growth Relationship

With official development assistance (ODA) set to rise as countries strive to meet the Millennium Development Goals (MDGs), aid effectiveness remains an important area of development policy. An increasing number of studies support the notion that ODA can contribute to growth in a nonlinear relationship. In this paper, we investigate a new hypothesis regarding this relationship: that deeper financial markets in aid-recipient countries facilitate the management of aid flows, thereby enhancing aid effectiveness. An empirical analysis, using a panel data set, finds robust support for the hypothesis.Foreign aid,economic growth,poverty,financial development

Full-term extrauterine abdominal pregnancy: a case report

<p>Abstract</p> <p>Introduction</p> <p>Extrauterine abdominal pregnancy is extremely rare and is frequently missed during antenatal care. This is a report of a full-term extrauterine abdominal pregnancy in a primigravida who likely had a ruptured ectopic pregnancy with secondary implantation and subsequently delivered a healthy baby.</p> <p>Case presentation</p> <p>A 23-year-old, Middle Eastern, primigravida presented at 14 weeks gestation with intermittent suprapubic pain and dysuria. An abdominal ultrasound examination showed a single viable fetus with free fluid in her abdomen. A follow-up examination at term showed a breech presentation and the possibility of a bicornute uterus with the fetus present in the left horn of her uterus. Our patient underwent Cesarean delivery under general anesthesia and was found to have a small intact uterus with the fetus lying in her abdomen and surrounded by an amniotic fluid-filled sac. The baby was extracted uneventfully, but the placenta was implanted in the left broad ligament and its removal resulted in massive intraoperative bleeding that necessitated blood and blood products transfusion and the administration of Factor VII to control the bleeding. Both the mother and newborn were discharged home in good condition.</p> <p>Conclusions</p> <p>An extrauterine abdominal pregnancy secondary to a ruptured ectopic pregnancy with secondary implantation could be missed during antenatal care and continue to term with good maternal and fetal outcome. An advanced extrauterine pregnancy should not result in the automatic termination of the pregnancy.</p

Simultaneous optimization: sectorization and congolese air traffic assignment by the method of preferential reference of dominance.

Air controllers encounter aeronautical problems everyday. Those problems complexity is growing as the latter problems emerge in aerial navigations sectors at the time of the air traffic assignment. As a long time as the number of aircraft in a sector is high, the controller-related load will increase in a nonlinear way. Currently, one counts, on the congolese territory, and especially in the vicinity of areas with wars, many planes movements. This would represent in a near future a difficult bulk of control for controllers. In order to avoid saturation in sectors, the congolese airspace must be divided in increasingly small sectors while distributing the workloads. To clarify the analysis, one is interested in the multicriteria optimization which deals with the case of the simultaneous presence of several objectives by the preferential reference of dominance method proposed by Joseph Okitonyumbe and Berthold Ulungu (2014). The latter method is based on a new characterization of the efficient solutions by building the probable assignments in order to minimize the load of control in the sector

Monetary Policy, Credit Rationing, and Investment in Developing Countries

111 p.Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1998.From a policy standpoint, the analysis gives some prescriptions, including the need for macroeconomic stability and development of information systems, as preconditions for interest rate reform policies to work.U of I OnlyRestricted to the U of I community idenfinitely during batch ingest of legacy ETD

Financing Uganda'S Poverty Reduction Strategy

Uganda''s market-friendly development strategy and poverty reduction agenda have attracted large financial inflows, including aid. During 2000-02, concerns about a possible aid-induced Dutch disease were heightened by widening macroeconomic imbalances and an upward trend in the real effective exchange rate (REER). This paper shows that the REER remained broadly stable during a 10-year period and nontraditional exports increased remarkably, contrary to the predictions of the Dutch disease model. Also, economic growth was strong. This good performance is attributed to sound macroeconomic policies and important structural reforms, which have allowed an increased use of available production factors.Exchange rates;Economic growth;Poverty reduction;reer, exchange rate, real exchange rate, foreign exchange, real effective exchange rate, nontraditional exports, effective exchange rate, capital flows, exchange rate management, total exports, export proceeds, exchange rate depreciation, export performance, exchange rate indices, exchange rate appreciation, export orientation, real exchange rate appreciation, coffee exports, foreign exchange market, effective exchange rates, trade liberalization, agricultural exports, real exports, export competitiveness, official exchange rate, nominal exchange rate, capital account liberalization, foreign exchange sales, exchange rate appreciations, nominal effective exchange rate, value of exports, exchange rate ? pressures, diversification of exports, real exchange rate appreciations, exchange reserves, exchange sales, economic downturns, average exchange rates, foreign exchange reserves, export volumes, exchange rate policy

Aid and the Dutch Disease in Low-Income Countries

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.Economic growth;Exchange rate appreciation;Economic models;dutch disease, exchange rate, real exchange rate, foreign exchange, exchange rates, real effective exchange rate, effective exchange rate, macroeconomic policies, fixed exchange rate, dollar exchange rates, nominal exchange rate, exchange rate appreciations, dutch ? disease, foreign exchange reserves, average exchange rates, real exchange rate appreciations, nominal effective exchange rate

Are there Negative Returns to Aid? a Comment

Amid controversies surrounding aid effectiveness, an increasing number of empirical studies find support for the idea that aid can spur growth and that the aid-growth relationship is nonlinear. Lensink and White propose a model to illustrate the possible existence of what has been labeled an "aid Laffer curve." This short paper highlights the model''s weaknesses and suggests that the model does not fulfill the purpose of illustrating the possible existence of negative returns to aid.Economic growth;Poverty;calibration, paper, equation, nonlinearity, optimization, predictions

Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies

We analyze the link between nonperforming loans (NPL) and macroeconomic performance using two complementary approaches. First, we investigate the macroeconomic determinants of NPL in panel regressions and confirm that adverse macroeconomic developments are associated with rising NPL. Second, we investigate the feedback between NPL and its macroeconomic determinants in a panel vector autoregressive (PVAR) model. The impulse response functions (IRFs) attribute to NPL a central role in the linkages between credit market frictions and macrofinancial vulnerability. They suggest that a sharp increase in NPL triggers long-lived tailwinds that cripple macroeconomic performance from several fronts.Banks;Credit risk;Developed countries;Economic models;banking, banking crises, cointegration, statistics, equation, standard deviation, banks ? balance sheets, standard errors, var model, correlations, logarithm, samples, standard error, econometrics, banks ? loan, bank credit, banking system distress, time series, probability, financial statistics, banking sector, equations, correlation, banking systems, bank policy, vector autoregression, bank of greece, autocorrelation, banking system, covariance, mortgage loan, dummy variable, significance level, statistic, forecasting, predictions, sample size, bank portfolio, bank insolvencies, diagonal matrix, bankruptcies, prediction, banking crisis, bank capital, finite sample, linear trend, stationary process, bank for international settlements, polynomial, significance levels

Interest Rates, Credit Rationing, and Investment in Developing Countries

This paper examines the impact of interest rates and inflation on bank loans and investment within a framework that mimics the financial sectors prevailing in most low-income developing countries. The paper emphasizes the importance of treating the lending and deposit rates of interest as distinct parameters in investment equations. The spread between the two rates is indicative of default risk and has a negative impact on incremental loan amounts associated with higher lending rates, in particular in economies with flawed institutions. The model presented in the paper highlights the importance of promoting macroeconomic stability and upgrading institutions and informational infrastructure.Credit;Developing countries;Interest rates;Investment;Economic models;bank loans, macroeconomic stability, inflation, bank credit, banking, rate of inflation, banking system, monetary base, bank lending, monetary economics, monetary policy, bank deposits, investment spending, real interest rates, real value, reserve ratio, money growth, probability of default, real money, retail bank, price level, inflation affect, bank loan, banking sector, bank reserves, bank spreads, disintermediation, bank portfolio, real variables, bank account, excess demand, banks ? balance sheet, inflation rate, bank deposit, credit policy, high interest rates, nominal capital, bank issues

Local Financial Development and the Aid-Growth Relationship

With official development assistance (ODA) set to rise as countries strive to meet the Millennium Development Goals (MDGs), aid effectiveness remains an important area of development policy. An increasing number of studies support the notion that ODA can contribute to growth in a nonlinear relationship. In this paper, we investigate a new hypothesis regarding this relationship: that deeper financial markets in aid-recipient countries facilitate the management of aid flows, thereby enhancing aid effectiveness. An empirical analysis, using a panel data set, finds robust support for the hypothesis.Economic growth;Poverty;Financial assistance;Economic models;financial market, aid flows, financial markets, aid effectiveness, financial market development, foreign aid, development assistance, financial intermediation, liquid liabilities, nominal exchange rate, official development assistance, deposit money, financial sector, deposit money banks, financial institutions, financial structure, stock market, financial resources, domestic interest rates, financial intermediaries, financial system, development aid, aid allocation, international finance, money market, domestic money market, financial intermediary coalitions, foreign aid flows