Aid and Sectoral Growth: Evidence from Panel Data
用面板数据检验了援助是否损害穷国外部竞争力、引发荷兰病效应，发现援助在总量和部门层面都促进增长，且对可贸易和不可贸易部门影响同样强，不支持援助降低竞争力的假说。
Abstract This article examines empirically the proposition that aid to poor countries is detrimental for external competitiveness, giving rise to Dutch disease type effects. At the aggregate level, aid is found to have a positive effect on growth. A sectoral decomposition shows that the effect is (i) significant and positive in the tradable and the nontradable sectors, and (ii) equally strong in both sectors. The article thus provides no empirical support for the hypothesis that aid reduces external competitiveness in developing countries. A possible reason for this finding is the existence of large idle labour capacity that prevents the real exchange rate from appreciating.