@article{Ranis:133408,
      recid = {133408},
      author = {Ranis, Gustav},
      title = {Another Look at Foreign Aid},
      address = {2012-08},
      number = {1858-2016-152953},
      series = {Economic Growth Center Discussion Paper},
      pages = {25},
      year = {2012},
      abstract = {The discussion of the effectiveness of foreign aid has  reached a high pitch.  This paper assesses the sorry past  and present key arguments for a potentially more effective  and sustainable method of aid delivery.  A key ingredient  is to shake off the vestiges of structural adjustment and  move towards true recipient country ownership complete with  “self-conditionality” with aid recipients formulating their  own reform packages.  This means donors become much more  passive, act like a bank and respond to proposals which  concentrate on a few critical areas over a three to  five-year period.  Policy-based program lending should  respond to packages put together by the main domestic  stakeholders with the help, if necessary, of independent  third parties.  There should be no compulsion to lend;  indeed, an aid hiatus is an indication that the new system  is effective.  What is required is for donors to stop using  aid as a short-term foreign policy tool and for recipients  to accept the notion that aid provides the opportunity to  reduce the inevitable adjustment pains caused by real  reforms.},
      url = {http://ageconsearch.umn.edu/record/133408},
      doi = {https://doi.org/10.22004/ag.econ.133408},
}