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AID INFLOWS AND ECONOMIC GROWTH: GRANTS AND LOANS IN THE CASE OF KENYA*

Title
AID INFLOWS AND ECONOMIC GROWTH: GRANTS AND LOANS IN THE CASE OF KENYA*
Authors
Yoon S.-C.Mah J.S.
Ewha Authors
마재신
SCOPUS Author ID
마재신scopus
Issue Date
2020
Journal Title
Journal of Economic Development
ISSN
0254-8372JCR Link
Citation
Journal of Economic Development vol. 45, no. 4, pp. 35 - 47
Keywords
AidEconomic GrowthGrantsKenyaLoans
Publisher
Economic Research Institute of Chung-Ang University
Indexed
SCOPUS; KCI scopus
Document Type
Article
Abstract
The present paper compares the impact of grants and concessional loans on economic growth in Kenya and examines whether or not different degrees of political freedom influence this. Autoregressive distributed lags variance bounds tests and error correction models indicate that investment caused economic growth significantly. There is little evidence of globalization-related variables causing economic growth. Grants appear to have affected economic growth negatively, while there is no significant evidence of an effect of concessional loans. This implies that Kenya needs to pursue its own economic development strategy not relying on aid inflows. The impact of grants or loans on economic growth is revealed to be not conditional upon the degree of political freedom in Kenya. © 2020. All Rights Reserved.
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스크랜튼대학 > 국제학부 > Journal papers
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