Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan
The aim of this study is to analyze the use of foreign aid for stimulating economic development using the case of Pakistan and to find out advantages and disadvantages of raising national financial resources through foreign aid. The article analyzes the evolution of the policy of attracting financia...
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| Format: | Article |
| Language: | English |
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MGIMO University Press
2019-05-01
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| Series: | Vestnik MGIMO-Universiteta |
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| Online Access: | https://www.vestnik.mgimo.ru/jour/article/view/927 |
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| author | N. V. Galistcheva |
| author_facet | N. V. Galistcheva |
| author_sort | N. V. Galistcheva |
| collection | DOAJ |
| description | The aim of this study is to analyze the use of foreign aid for stimulating economic development using the case of Pakistan and to find out advantages and disadvantages of raising national financial resources through foreign aid. The article analyzes the evolution of the policy of attracting financial resources through this channel, as well as the main Pakistani donors and their conditions.The author uses the most representative theories which consider the consequences of attracting foreign assistance to the national economy making the theoretical basis of the study a synthesis of the concept of aid as the most important factor to stimulate development and M.A. Rahman’s approach to determining an impact of foreign aid inflows on economic growth. The article emphasizes that foreign aid has always been very significant in stimulating the development of the Pakistani economy due to the serious limitation of the volume of national capital since its independence. The author considers the effectiveness of assistance provided to Pakistan during the import substitution period of its economic policy. The construction of large objects of heavy industries and infrastructure in various regions of the country was financed from external resources.The article also analyzes the current volume, conditions and forms of foreign assistance provided to Pakistan. The author considers the main donors of the Pakistani economy in the 1990s and 2010s and reveals the tendency of shifting the terms of aid’s allocation from grants to concessional loans, which inevitably leads to an increase in the volume of the country's external debt. |
| format | Article |
| id | doaj-art-8bd4428398ba4b14a27928cbb2715202 |
| institution | Kabale University |
| issn | 2071-8160 2541-9099 |
| language | English |
| publishDate | 2019-05-01 |
| publisher | MGIMO University Press |
| record_format | Article |
| series | Vestnik MGIMO-Universiteta |
| spelling | doaj-art-8bd4428398ba4b14a27928cbb27152022025-01-30T12:15:53ZengMGIMO University PressVestnik MGIMO-Universiteta2071-81602541-90992019-05-0102(65)13615810.24833/2071-8160-2019-2-65-136-158845Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of PakistanN. V. Galistcheva0Moscow State Institute of International Relations (University).The aim of this study is to analyze the use of foreign aid for stimulating economic development using the case of Pakistan and to find out advantages and disadvantages of raising national financial resources through foreign aid. The article analyzes the evolution of the policy of attracting financial resources through this channel, as well as the main Pakistani donors and their conditions.The author uses the most representative theories which consider the consequences of attracting foreign assistance to the national economy making the theoretical basis of the study a synthesis of the concept of aid as the most important factor to stimulate development and M.A. Rahman’s approach to determining an impact of foreign aid inflows on economic growth. The article emphasizes that foreign aid has always been very significant in stimulating the development of the Pakistani economy due to the serious limitation of the volume of national capital since its independence. The author considers the effectiveness of assistance provided to Pakistan during the import substitution period of its economic policy. The construction of large objects of heavy industries and infrastructure in various regions of the country was financed from external resources.The article also analyzes the current volume, conditions and forms of foreign assistance provided to Pakistan. The author considers the main donors of the Pakistani economy in the 1990s and 2010s and reveals the tendency of shifting the terms of aid’s allocation from grants to concessional loans, which inevitably leads to an increase in the volume of the country's external debt.https://www.vestnik.mgimo.ru/jour/article/view/927the economy of pakistanthe liberal reformsthe rate of gross savings and the rate of gross capital formation in pakistani economythe foreign aid to pakistanthe main donors of pakistanthe technical assistance in the pakistani economypakistan as a recipient of the foreign aidthe self-assured and self-sustained growththe arab countries of the persian gulf as the financial donor of pakistanchina as the new financial donor of pakistangrants in the pakistani economythe humanitarian assistance to pakistan |
| spellingShingle | N. V. Galistcheva Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan Vestnik MGIMO-Universiteta the economy of pakistan the liberal reforms the rate of gross savings and the rate of gross capital formation in pakistani economy the foreign aid to pakistan the main donors of pakistan the technical assistance in the pakistani economy pakistan as a recipient of the foreign aid the self-assured and self-sustained growth the arab countries of the persian gulf as the financial donor of pakistan china as the new financial donor of pakistan grants in the pakistani economy the humanitarian assistance to pakistan |
| title | Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan |
| title_full | Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan |
| title_fullStr | Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan |
| title_full_unstemmed | Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan |
| title_short | Foreign Aid as a Factor of Development of Economy of the Developing State: The Experience of Pakistan |
| title_sort | foreign aid as a factor of development of economy of the developing state the experience of pakistan |
| topic | the economy of pakistan the liberal reforms the rate of gross savings and the rate of gross capital formation in pakistani economy the foreign aid to pakistan the main donors of pakistan the technical assistance in the pakistani economy pakistan as a recipient of the foreign aid the self-assured and self-sustained growth the arab countries of the persian gulf as the financial donor of pakistan china as the new financial donor of pakistan grants in the pakistani economy the humanitarian assistance to pakistan |
| url | https://www.vestnik.mgimo.ru/jour/article/view/927 |
| work_keys_str_mv | AT nvgalistcheva foreignaidasafactorofdevelopmentofeconomyofthedevelopingstatetheexperienceofpakistan |