Foreign aid and economic development in postwar Lebanon

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dc.contributor.author Dibeh, Ghassan
dc.date.accessioned 2017-08-24T07:12:16Z
dc.date.available 2017-08-24T07:12:16Z
dc.date.copyright 2007 en_US
dc.date.issued 2017-08-24
dc.identifier.isbn 9.78929E+12 en_US
dc.identifier.uri http://hdl.handle.net/10725/6080 en_US
dc.description.abstract This paper shows that foreign aid in postwar Lebanon passed through two phases with distinct features that have had far reaching implications for postwar development. In the first phase lasting from 1992-97, foreign aid was mainly channelled towards providing resources for postwar reconstruction projects. The second phase from 1997 to the present witnessed a qualitative shift in foreign aid utilization from reconstruction needs towards financial stability and balance-of-payments equilibrium needs. This shift allowed the government to intervene in the foreign exchange market, maintained balance of payments surpluses during this period, reduced interest rates on public debt instruments and finally provided the necessary liquidity and 'confidence' for the government to continue borrowing funds from local commercial banks and foreign investors. More importantly this shift in foreign aid allowed the government to avoid financial and currency crises in 2002. However, the cost of such a qualitative shift was large in terms of fiscal management, diversion of funds from reconstruction, and the increased dependency of the Lebanese economy on foreign aid for stabilization purposes. en_US
dc.language.iso en en_US
dc.publisher UNU/WIDER en_US
dc.relation.ispartofseries Research paper (World Institute for Development Economics Research) ; no. 2007/37 en_US
dc.subject Economic assistance -- Lebanon en_US
dc.title Foreign aid and economic development in postwar Lebanon en_US
dc.type Conference paper / Proceeding en_US
dc.author.school SOB en_US
dc.author.idnumber 199490150 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.description.physdesc 13 p. : ill. en_US
dc.publication.place Helsinki, Finnland en_US
dc.keywords Foreign aid en_US
dc.keywords Postwar reconstruction en_US
dc.keywords Post conflict en_US
dc.keywords Lebanon en_US
dc.description.bibliographiccitations Includes bibliographical references (pages 12-13). en_US
dc.identifier.ctation Dibeh, G. (2007). Foreign Aid and Economic Development in Postwar Lebanon (No. 2007/37). Research Paper, UNU-WIDER, United Nations University (UNU). en_US
dc.author.email gdibeh@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url https://www.econstor.eu/handle/10419/63577 en_US
dc.note This study is a revised version of the paper presented at the 16-17 June 2006 WIDER development conference on "Aid: principles, policies, and performance" en_US
dc.author.affiliation Lebanese American University en_US

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