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Development Cooperation in Times of Crisis$
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José Antonio Ocampo and José Antonio Alonso

Print publication date: 2012

Print ISBN-13: 9780231159661

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231159661.001.0001

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The Economic Crisis and the International Aid

The Economic Crisis and the International Aid

(p.142) Chapter 4 The Economic Crisis and the International Aid
Development Cooperation in Times of Crisis

Andrew Mold

Annalisa Prizzon

Columbia University Press

This chapter examines the effect the financial crisis may have on development funding and on flows of international aid. The results of previous crises have been varied, indicating that the effect on aid is highly dependent on the severity of a given crisis and on the political will of governments and the priorities that they establish. Examples of other periods of instability reveal that if a fall in resources occurs, it tends to happen some time after the start of the crisis (one year to two years later). This helps explain the relative stability of aid flows during the first phases of the current crisis and suggests that the effects of the recession on aid may yet be felt during later budgetary cycles. It is, therefore, essential to emphasize the need for countries to maintain their international aid commitments.

Keywords:   2008 financial crisis, development funding, international aid, governments, aid flows, international aid, recession

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