{"id":"https://openalex.org/W2124334347","doi":"https://doi.org/10.20955/wp.2011.023","title":"Should easier access to international credit replace foreign aid?","display_name":"Should easier access to international credit replace foreign aid?","publication_year":2011,"publication_date":"2011-01-01","ids":{"openalex":"https://openalex.org/W2124334347","doi":"https://doi.org/10.20955/wp.2011.023","mag":"2124334347"},"language":"en","primary_location":{"id":"doi:10.20955/wp.2011.023","doi":"https://doi.org/10.20955/wp.2011.023","is_oa":true,"landing_page_url":"https://doi.org/10.20955/wp.2011.023","pdf_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2011/2011-023.pdf","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Federal Reserve Bank of St. Louis","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2011/2011-023.pdf","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5014264787","display_name":"Subhayu Bandyopadhyay","orcid":"https://orcid.org/0000-0003-1626-6543","observed_orcids":["https://orcid.org/0000-0003-1626-6543"]},"institutions":[{"id":"https://openalex.org/I12097938","display_name":"West Virginia University","ror":"https://ror.org/011vxgd24","country_code":"US","type":"education","lineage":["https://openalex.org/I12097938"]},{"id":"https://openalex.org/I197518295","display_name":"IZA - Institute of Labor Economics","ror":"https://ror.org/029s44460","country_code":"DE","type":"nonprofit","lineage":["https://openalex.org/I197518295"]},{"id":"https://openalex.org/I77793887","display_name":"Federal Reserve Bank of St. Louis","ror":"https://ror.org/02skhjj30","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608","https://openalex.org/I77793887"]}],"countries":["DE","US"],"is_corresponding":false,"raw_author_name":"Subhayu Bandyopadhyay","raw_affiliation_strings":["IZA Institute of Labor Economics","West Virginia University","Federal Reserve Bank of St. Louis - Research Division"],"raw_orcid":"https://orcid.org/0000-0003-1626-6543","affiliations":[{"raw_affiliation_string":"IZA Institute of Labor Economics","institution_ids":["https://openalex.org/I197518295"]},{"raw_affiliation_string":"West Virginia University","institution_ids":["https://openalex.org/I12097938"]},{"raw_affiliation_string":"Federal Reserve Bank of St. Louis - Research Division","institution_ids":["https://openalex.org/I77793887"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5038009644","display_name":"Sajal Lahiri","orcid":"https://orcid.org/0000-0003-1889-8368","observed_orcids":["https://orcid.org/0000-0003-1889-8368"]},"institutions":[{"id":"https://openalex.org/I110378019","display_name":"Southern Illinois University Carbondale","ror":"https://ror.org/049kefs16","country_code":"US","type":"education","lineage":["https://openalex.org/I110378019","https://openalex.org/I2801502357"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Sajal Lahiri","raw_affiliation_strings":["Department of Economics , Southern Illinois University Carbondale , Carbondale , IL 62901- 4515 , U.S.A.;","Southern Illinois University Carbondale - Department of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics , Southern Illinois University Carbondale , Carbondale , IL 62901- 4515 , U.S.A.;","institution_ids":["https://openalex.org/I110378019"]},{"raw_affiliation_string":"Southern Illinois University Carbondale - Department of Economics","institution_ids":["https://openalex.org/I110378019"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5023232208","display_name":"Javed Younas","orcid":"https://orcid.org/0000-0003-2032-2448","observed_orcids":["https://orcid.org/0000-0003-2032-2448"]},"institutions":[{"id":"https://openalex.org/I197518295","display_name":"IZA - Institute of Labor Economics","ror":"https://ror.org/029s44460","country_code":"DE","type":"nonprofit","lineage":["https://openalex.org/I197518295"]},{"id":"https://openalex.org/I199440890","display_name":"American University of Sharjah","ror":"https://ror.org/001g2fj96","country_code":"AE","type":"education","lineage":["https://openalex.org/I199440890"]},{"id":"https://openalex.org/I77793887","display_name":"Federal Reserve Bank of St. Louis","ror":"https://ror.org/02skhjj30","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608","https://openalex.org/I77793887"]}],"countries":["AE","DE","US"],"is_corresponding":false,"raw_author_name":"Javed Younas","raw_affiliation_strings":["Department of Economics, American University of Sharjah, PO Box 26666, Sharjah, UAE;","Federal Reserve Bank of St. Louis , Research Division , PO Box 442 , St. Louis , MO 63166- 0442 ,","Federal Reserve Bank of St. Louis, Research Division, PO Box 442, St. Louis, MO 63166-0442, U.S.A.; and Research Fellow at IZA, Bonn, Germany;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, American University of Sharjah, PO Box 26666, Sharjah, UAE;","institution_ids":["https://openalex.org/I199440890"]},{"raw_affiliation_string":"Federal Reserve Bank of St. Louis , Research Division , PO Box 442 , St. Louis , MO 63166- 0442 ,","institution_ids":["https://openalex.org/I77793887"]},{"raw_affiliation_string":"Federal Reserve Bank of St. Louis, Research Division, PO Box 442, St. Louis, MO 63166-0442, U.S.A.; and Research Fellow at IZA, Bonn, Germany;","institution_ids":["https://openalex.org/I197518295","https://openalex.org/I77793887"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11168","display_name":"International Development and Aid","score":0.9897000193595886,"subfield":{"id":"https://openalex.org/subfields/3303","display_name":"Development"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11168","display_name":"International Development and Aid","score":0.9897000193595886,"subfield":{"id":"https://openalex.org/subfields/3303","display_name":"Development"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.004399999976158142,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10128","display_name":"Global trade and economics","score":0.0012000000569969416,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/foreign-aid","display_name":"foreign aid","score":0.9950000047683716},{"id":"https://openalex.org/keywords/international-lending","display_name":"international lending","score":0.7950000166893005},{"id":"https://openalex.org/keywords/credit-constraints","display_name":"credit constraints","score":0.6119999885559082},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.7710000276565552},{"id":"https://openalex.org/keywords/aid-effectiveness","display_name":"aid effectiveness","score":0.5789999961853027},{"id":"https://openalex.org/keywords/two-country-trade-model","display_name":"two-country trade model","score":0.6140000224113464},{"id":"https://openalex.org/keywords/developing-countries","display_name":"developing countries","score":0.5099999904632568}],"concepts":[{"id":"https://openalex.org/C2780232260","wikidata":"https://www.wikidata.org/wiki/Q191627","display_name":"Letter of credit","level":3,"score":0.5774627923965454},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5669047832489014},{"id":"https://openalex.org/C54750564","wikidata":"https://www.wikidata.org/wiki/Q26643","display_name":"Commerce","level":1,"score":0.39014381170272827},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.3756416141986847},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3398395776748657},{"id":"https://openalex.org/C155202549","wikidata":"https://www.wikidata.org/wiki/Q178803","display_name":"International trade","level":1,"score":0.32903286814689636},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2764955163002014},{"id":"https://openalex.org/C2983734796","wikidata":"https://www.wikidata.org/wiki/Q848507","display_name":"Commercial bank","level":2,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.20955/wp.2011.023","doi":"https://doi.org/10.20955/wp.2011.023","is_oa":true,"landing_page_url":"https://doi.org/10.20955/wp.2011.023","pdf_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2011/2011-023.pdf","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Federal Reserve Bank of St. Louis","raw_type":"report"},{"id":"pmh:oai:RePEc:fip:fedlwp:2011-023","doi":null,"is_oa":false,"landing_page_url":"http://research.stlouisfed.org/wp/2011/2011-023.pdf","pdf_url":"http://research.stlouisfed.org/wp/2011/2011-023.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:iza:izadps:dp6024","doi":null,"is_oa":false,"landing_page_url":"https://docs.iza.org/dp6024.pdf","pdf_url":"https://docs.iza.org/dp6024.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:econstor.eu:10419/58649","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10419/58649","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:workingPaper"}],"best_oa_location":{"id":"doi:10.20955/wp.2011.023","doi":"https://doi.org/10.20955/wp.2011.023","is_oa":true,"landing_page_url":"https://doi.org/10.20955/wp.2011.023","pdf_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2011/2011-023.pdf","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Federal Reserve Bank of St. Louis","raw_type":"report"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals","score":0.9090999960899353}],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals","score":0.5}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2124334347.pdf","grobid_xml":"https://content.openalex.org/works/W2124334347.grobid-xml"},"referenced_works_count":73,"referenced_works":["https://openalex.org/W589530944","https://openalex.org/W1503756430","https://openalex.org/W1525740260","https://openalex.org/W1535613044","https://openalex.org/W1544202043","https://openalex.org/W1552360705","https://openalex.org/W1601891934","https://openalex.org/W1604059436","https://openalex.org/W1911257304","https://openalex.org/W1934649023","https://openalex.org/W1977433163","https://openalex.org/W1980198991","https://openalex.org/W1990946619","https://openalex.org/W2012898594","https://openalex.org/W2017319730","https://openalex.org/W2025610165","https://openalex.org/W2026623450","https://openalex.org/W2034327252","https://openalex.org/W2035554302","https://openalex.org/W2043658315","https://openalex.org/W2073744659","https://openalex.org/W2076690857","https://openalex.org/W2079284543","https://openalex.org/W2081676448","https://openalex.org/W2083999567","https://openalex.org/W2084384840","https://openalex.org/W2096874528","https://openalex.org/W2106639360","https://openalex.org/W2107369086","https://openalex.org/W2112009779","https://openalex.org/W2113069323","https://openalex.org/W2114083300","https://openalex.org/W2127010016","https://openalex.org/W2128823216","https://openalex.org/W2131461943","https://openalex.org/W2131848553","https://openalex.org/W2132703850","https://openalex.org/W2138794499","https://openalex.org/W2144357229","https://openalex.org/W2149109368","https://openalex.org/W2151568976","https://openalex.org/W2154820854","https://openalex.org/W2168833400","https://openalex.org/W2169611196","https://openalex.org/W2240331116","https://openalex.org/W2279148545","https://openalex.org/W2616238168","https://openalex.org/W2798877118","https://openalex.org/W2891996052","https://openalex.org/W2892211367","https://openalex.org/W2994756033","https://openalex.org/W3024885294","https://openalex.org/W3121183069","https://openalex.org/W3121239921","https://openalex.org/W3122006229","https://openalex.org/W3122262241","https://openalex.org/W3122287281","https://openalex.org/W3122580964","https://openalex.org/W3123248704","https://openalex.org/W3123367873","https://openalex.org/W3124479598","https://openalex.org/W3125364203","https://openalex.org/W3125480683","https://openalex.org/W3126027997","https://openalex.org/W3126058703","https://openalex.org/W3147620099","https://openalex.org/W4235181428","https://openalex.org/W4253476318","https://openalex.org/W4255346626","https://openalex.org/W4284891083","https://openalex.org/W4300848461","https://openalex.org/W6668808927","https://openalex.org/W7042687398"],"related_works":["https://openalex.org/W3125054323","https://openalex.org/W313635582","https://openalex.org/W7096845877","https://openalex.org/W1867751917","https://openalex.org/W3121803085","https://openalex.org/W7100537569","https://openalex.org/W2158946943","https://openalex.org/W3015682583","https://openalex.org/W2041947871","https://openalex.org/W2926008504"],"abstract_inverted_index":{"We":[0],"examine":[1],"the":[2,67,86,102],"interaction":[3],"between":[4],"foreign":[5,70,90,106],"aid":[6,71,91],"and":[7,40,74,85,99],"binding":[8],"borrowing":[9],"constraint":[10],"for":[11,62],"a":[12,31,63,78],"recipient":[13,64],"country.We":[14],"also":[15],"analyze":[16],"how":[17],"these":[18],"two":[19],"instruments":[20],"affect":[21],"economic":[22],"growth":[23],"via":[24],"non-linear":[25],"relationships.First":[26],"of":[27,69,81,89,96],"all,":[28],"we":[29,42],"develop":[30,37],"two-country,":[32],"two-period":[33],"trade-theoretic":[34],"model":[35],"to":[36,47,59],"testable":[38],"hypotheses":[39,50],"then":[41],"use":[43],"dynamic":[44],"panel":[45],"analysis":[46],"test":[48],"those":[49],"empirically.Our":[51],"main":[52],"findings":[53],"are":[54],"that:":[55],"(i)":[56],"better":[57],"access":[58],"international":[60,82],"credit":[61],"country":[65],"reduces":[66],"amount":[68],"it":[72],"receives,":[73],"(ii)":[75],"there":[76],"is":[77,92,108],"critical":[79,111],"level":[80],"financial":[83],"transfer,":[84],"marginal":[87],"effect":[88],"larger":[93],"than":[94],"that":[95],"loans":[97],"if":[98,101],"only":[100],"transfer":[103],"(loans":[104],"or":[105],"aid)":[107],"below":[109],"this":[110],"level.":[112]},"counts_by_year":[],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}