01815cas a2200253 a 4500 AALejournalIMF001716 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858181 1018-5941 BD-DhAAL BD-DhAAL Hamann, A. How Volatile and Unpredictable Are Aid Flows, and What Are the Policy Implications? / A. Hamann, Ales Bulir. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines empirical evidence on the volatility and uncertainty of aid flows, and the main policy implications. Aid is found to be more volatile than fiscal revenues- particularly in highly aid-dependent countries-and mildly procyclical in relation to activity in the recipient country. These findings imply that the current pattern of aid disbursements is welfare-reducing. We also find that uncertainty about aid disbursements is large and that the information content of commitments made by donors is either very small or statistically insignificant. Policies to cope with these features of aid, as well as broader international efforts to reduce the volatility and procyclicality of aid, are briefly discussed. Mode of access: Internet Bulir, Ales. IMF Working Papers; Working Paper ; No. 2001/167 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/167/001.2001.issue-167-en.xml IMF e-Library