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Aid and growth: Evidence using firm-level data

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Date
2018
Dewey
Croissance et développement économiques
Sujet
Foreign aid; Firm growth; Infrastructure constraint; Financing constraint
JEL code
O.O5.O50; O.O1.O16; F.F3.F35
Journal issue
Journal of Development Economics
Volume
135
Publication date
2018
Article pages
461-477
Publisher
Elsevier
DOI
http://dx.doi.org/10.1016/j.jdeveco.2018.07.010
URI
https://basepub.dauphine.fr/handle/123456789/19650
Collections
  • LEDa : Publications
Metadata
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Author
Chauvet, Lisa
11609 Institut de Recherche pour le Développement (IRD)
163511 Laboratoire d'Economie de Dauphine [LEDa]
490669 Centre d'Études et de Recherches sur le Développement International - Clermont Auvergne [CERDI]
Ehrhart, Hélène
945 Centre d'Études et de Recherches sur le Développement International [CERDI]
143593 Banque de France
171776 Centre de recherche de la Banque de France
Type
Article accepté pour publication ou publié
Abstract (EN)
This paper explores the impact of foreign aid on firm growth for a panel of 4355 firms in 29 developing countries, 11 of which are in Africa. Using the World Bank Enterprise Surveys data and controlling for firm fixed effects, we find a positive impact of foreign aid on firms' sales growth. This result is robust to several checks, notably to the instrumentation of aid and to estimations on various sub-samples and on an extended cross-section sample of 93 countries. We then provide evidence that the positive effect of aid is especially strong for firms operating in sectors that are intensive in infrastructure and external finance, suggesting that aid may improve firm performance through the alleviation of infrastructure and financing constraints in developing countries.

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