Papers

FOREIGN AID, CORRUPTION AND ECONOMIC DEVELOPMENT: AN EMPIRICAL ANALYSIS ON SELECTED ASIAN AND AFRICAN COUNTRIES (Pages : 1 - 8)

M.N. AHSAN, N. NASRIN, A. AKTER AND T. HASHEM

Most of the Least Developed Countries (LDC) especially Asian and African countries have received a sizable amount of foreign assistance (ODA) over the years in various forms. At the same time, corruption is a key national challenge to these LDCs for their development. This study examines the relationship among corruption, foreign aid and economic development of some selected Asian and African LDCs. A panel dataset of fifteen years (1995-2009) for these selected countries is used for analysis in this study. With a view to showing relationship among ODA, corruption and development a cross country analysis is conducted at first, where the above-mentioned relationship is examined separately for selected Asian and African countries. Then an aggregate analysis is performed where all the sample countries from Asia and Africa are considered. In aggregate analysis, the result shows that ODA is negatively related to corruption whereas GDP growth, GDP per capita and good governance is positively related. In case of cross country analysis, the study explores an interesting result that not only CPI but also GDP growth is negatively related to ODA for both the Asian and African countries. Finally, it is found that supply of ODA increases due to rise in per capita GDP, GDP growth and good governance of the selected LDCs. However, corruption negatively influences the ODA flow and hence, it can be concluded that corruption hampers foreign aid supply, which in turn hampers GDP growth, good governance and overall development.Download


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