国外经济援助的有效性:基于代际利他视角的研究

消费者是否具有代际利他动机,直接影响消费者的消费和储蓄决策。在本文中,作者利用一个具有代际利他动机的交叠世代模型研究国外经济援助的有效性。作者发现,国外经济援助对于受援国资本积累的影响是非线性的,具有一定的临界值效果。这一发现从一个不同的侧面支持了当代跨国经济增长研究中的"临界值效果"观点,有助于解释关于国外经济援助有效性的经验研究文献中广泛存在的争议;同时,也为进一步的计量研究指出了一个新的模型设定方向。

The Effectiveness of Foreign Aid in an Overlapping-Generations Model with Bequests and Gifts

Gift and bequest motives have direct effects on representative consumer's consumption and saving decisions. In this paper, we use an overlapping-generations model with bequests and gifts to investigate the effectiveness of foreign aid. we find that, the impact of foreign aid on recipient country's capital accumulation is non-linear, exhibiting a kind of threshold effect. This theoretical finding is consistent with viewpoint such as "threshold externalities" in recent cross-country growth literature, and is helpful to explain the severe controversies in the empirical literature about the effectiveness of foreign aid. Further more, our research points out a new econometric approach for the specification of aid and growth relationship.