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In the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. In Dead Aid, Dambisa Moyo describes the state of postwar development policy in Africa today and unflinchingly confronts one of the greatest myths of our. DEAD AID. WHY AID IS NOT WORKING. AND HOW THERE IS. A BETTER WAY FOR AFRICA. Dambisa Moyo. Farrar, Straus and Giroux. New York. by Dambisa Moyo, Niall Ferguson. In the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Dead Aid is an unsettling yet optimistic work, a powerful challenge to the assumptions and arguments that support a.


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Dead Aid. Why Aid Makes Things Worse and How There is Another Way for Africa. PENGUIN BOOKS. Contents. Foreword by Niall Ferguson. Editorial Reviews. From Publishers Weekly. In this important analysis of the past fifty years of Download it once and read it on your Kindle device, PC, phones or tablets. Use features like eBook features: Highlight, take notes, and search in. Editorial Reviews. From Publishers Weekly. In this important analysis of the past fifty years of Download it once and read it on your Kindle device, PC, phones or tablets. Use features Kindle Store · Kindle eBooks · Politics & Social Sciences.

Has this assistance improved the lives of Africans? In fact, across the continent, the recipients of this aid are not better off as a result of it, but worse—much worse. In Dead Aid , Dambisa Moyo describes the state of postwar development policy in Africa today and unflinchingly confronts one of the greatest myths of our time: In fact, poverty levels continue to escalate and growth rates have steadily declined—and millions continue to suffer. Provocatively drawing a sharp contrast between African countries that have rejected the aid route and prospered and others that have become aid-dependent and seen poverty increase, Moyo illuminates the way in which overreliance on aid has trapped developing nations in a vicious circle of aid dependency, corruption, market distortion, and further poverty, leaving them with nothing but the "need" for more aid.

And worse for it having "validated? Are we really this gullible?

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Considered and critical view of foreign aid to Africa and why such aid must stop as it is applied today. Moyo has examined why foreign aid does not work, has not worked, and will not work in the future to alleviate poverty in Africa. The book is written for lay persons such as myself but it is replete with cases studies and references sufficient enough for any academic.

This should be read by anyone in government aid and anyone considering trying to help the poor. The book offers hope for the future and it lays out a clear and simple plan of action. I wish Ms Moyo was in the US State Department instead of the career bureaucrats there now who have wasted billions of US aid dollars only to make things worse for those who need help the most.

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One person found this helpful. Dambisa Moyo's masterpiece is an economic blueprint intended to serve as a paradigm for weaning Africa off the debilitating aid-dependency syndrome that has kept the continent in perpetual economic stagnancy for decades. Using dependable statistics, Moyo argues that government-to-government or bilateral aid which should be distinguished from charity-based aid to Africa undermines the ability of Africans to conceptualize their own best economic and political policies.

As she puts it: It is itself an underlying cause of social unrest and possibly even civil war.

Ebook download Dead Aid Why Aid Is Not Working and How There Is a Bet…

Moyo notes that the "prospect of seizing power and gaining access to unlimited aid wealth is irresistible. Yet, aid has helped make the poor poorer; economic growth slower.

According to Moyo, the notion that foreign aid can alleviate systemic poverty, and has done so in Africa is tantamount to a myth. Millions in Africa, she notes, are poorer today on account of aid dependency. Indeed, aid has been and continues to be, an unmitigated political and economic and humanitarian disaster for Africa. Aid is not benign--it is malignant. In short, aid is not part of the solution; it is the problem. And here is how.

Aid breeds corruption in Africa. If the world has one picture of the African continent, it is one of corrupt statesmen. With very few exceptions, African leaders have crowned themselves in gold, seized land, handed over state businesses to relatives and friends, diverted billions of aid-money to foreign bank accounts, and generally treated their countries like giant personalized cash dispensers.

Roughly the same amount was stolen from Nigeria by President Sani Abacha and placed in Swiss private banks. The list of corrupt practices in Africa is endless. However, the point about corruption in Africa is not that it exists; the point is that foreign aid is one of its greatest aides. Aid creates a vicious cycle of dependency in Africa; a cycle that chokes off desperately needed investment, instills a culture of kleptomania, and facilitates rampant and systematic corruption, all with deleterious consequences for economic growth.

It is this cycle, Moyo posits, that "perpetuates underdevelopment, and guarantees economic failure in the poorest aid-dependent countries" Aid creates a fertile ground for rent-seeking, that is, the use of governmental authority to take and make money without trade or production of wealth. Because foreign aid is fungible--easily stolen, redirected and extracted-- it facilitates corruption.

At a very basic level, an example of this is where a government official with access to aid money set aside for public welfare takes the money for his own personal use.

Examples are legion in Africa. Foreign aid programs, which tend to lack accountability, and check and balances, act as substitutes for tax revenues. The tax receipts that aid releases are then diverted to unproductive and often wasteful purposes rather than the productive public expenditure education, health infrastructure, etc for which they were ostensibly intended.

Africa is the region that receives the largest amount of foreign aid, receiving more per capita in official development assistance than any other region of the world. Yet her social infrastructure is in a state of utter decrepitude! Moyo notes that any large influx of money into an economy, however robust, has the potential to create serious problems. With the relentless flow of unmitigated, substantial aid money to Africa, these problems are magnified, especially in economies that are, by their very nature, poorly managed, weak and susceptible to outside influence, over which domestic policymakers have little or no control.

Moyo contends that increases in foreign aid are correlated with declining domestic savings rates. As she puts it, "As foreign aid comes in, domestic savings decline; that is, investment falls. As savings decline, local banks have less money to lend for domestic investment. Worse still, foreign aid has an equally damaging crowding-out effect: Moyo points out that empirical research has shown that higher aid-induced consumption leads to an environment where much more money is chasing fewer goods.

Over and above, aid chokes off the export sector. This phenomenon is known as the Dutch disease, as its effects were first observed when natural gas revenues flooded the Netherlands in the s, devastating the Dutch export sector and increasing unemployment.

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Moyo argues that aid inflows have adverse effects on overall competitiveness, export sector usually in the form of decline in the share of those in the manufacturing sector and ultimately growth. In the oddest turn of events, the fact that aid reduces competitiveness, and thus the trading sector's ability to generate foreign-exchange earnings, makes countries even more dependent on aid, leaving them exposed to all the negative consequences of aid-dependency.

In countries with weak financial systems, additional foreign resources do not translate into growth of stronger financially dependent industries. So if foreign aid harbors such adverse effects for African economies why are donors bent on doling it out?

And why aren't recipients sagacious enough to put an end to the lethal cycle of aid? Moyo's Dead Aid model provides solid answers to these intriguing questions. She notes that "Africa is addicted to aid. For the past sixty years, she says, Africa has been fed aid.

Like any addict, Africa needs and depends on its regular fix, finding it hard, if not impossible to contemplate existence in an aid-less world.

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Arguing that the aid program in Africa has not worked precisely because it was never conceived with the intention of promoting the economic development of Africa, she proposes alternatives to foreign aid.

She notes that like the challenges faced by someone addicted to drugs, the withdrawal is bound to be painful. Nonetheless, if implemented in the most efficient way, the solutions offered in Dead Aid will help to dramatically reduce Africa's reliance on aid money. Moyo cites Botswana as an example of an economic success story in Africa. Botswana began with a high ratio of aid to GDP but used the aid wisely to provide important public goods that helped support good policies and sound governance and laid the foundation for robust economic growth for the country.

She says this stratagem can be replicated all over Africa. Her alternatives to aid, predicated on transparency and accountability, would provide the life-blood through which Africa's social capital and economies will grow. Her Dead Aid strategy leaves room for modest amounts of aid to be part of Africa's development financing strategy.

Systematic aid will be a component of her Dead Aid Model, but only insofar as its presence decreases as other financing alternatives take hold. Dambisa Moyo Pages: Paperback Brand: Description Title: Paperback Author: Moyo Publisher: FarrarStrausGiroux 4. If you want to download this book, click link in the next page 5. Download or read Dead Aid: Thank You For Visiting. You just clipped your first slide! Clipping is a handy way to collect important slides you want to go back to later.

Now customize the name of a clipboard to store your clips. Visibility Others can see my Clipboard. Cancel Save. Moyo points out that empirical research has shown that higher aid-induced consumption leads to an environment where much more money is chasing fewer goods.

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Over and above, aid chokes off the export sector. This phenomenon is known as the Dutch disease, as its effects were first observed when natural gas revenues flooded the Netherlands in the s, devastating the Dutch export sector and increasing unemployment.

Moyo argues that aid inflows have adverse effects on overall competitiveness, export sector usually in the form of decline in the share of those in the manufacturing sector and ultimately growth.

In the oddest turn of events, the fact that aid reduces competitiveness, and thus the trading sector's ability to generate foreign-exchange earnings, makes countries even more dependent on aid, leaving them exposed to all the negative consequences of aid-dependency.

In countries with weak financial systems, additional foreign resources do not translate into growth of stronger financially dependent industries. So if foreign aid harbors such adverse effects for African economies why are donors bent on doling it out? And why aren't recipients sagacious enough to put an end to the lethal cycle of aid? Moyo's Dead Aid model provides solid answers to these intriguing questions.

She notes that "Africa is addicted to aid. For the past sixty years, she says, Africa has been fed aid. Like any addict, Africa needs and depends on its regular fix, finding it hard, if not impossible to contemplate existence in an aid-less world.

Arguing that the aid program in Africa has not worked precisely because it was never conceived with the intention of promoting the economic development of Africa, she proposes alternatives to foreign aid. She notes that like the challenges faced by someone addicted to drugs, the withdrawal is bound to be painful. Nonetheless, if implemented in the most efficient way, the solutions offered in Dead Aid will help to dramatically reduce Africa's reliance on aid money.

Moyo cites Botswana as an example of an economic success story in Africa. Botswana began with a high ratio of aid to GDP but used the aid wisely to provide important public goods that helped support good policies and sound governance and laid the foundation for robust economic growth for the country.

She says this stratagem can be replicated all over Africa. Her alternatives to aid, predicated on transparency and accountability, would provide the life-blood through which Africa's social capital and economies will grow. Her Dead Aid strategy leaves room for modest amounts of aid to be part of Africa's development financing strategy.

Systematic aid will be a component of her Dead Aid Model, but only insofar as its presence decreases as other financing alternatives take hold. The ultimate goal, as far as Moyo is concerned, is an aid-free Africa. In a nutshell, Dead Aid proposes radical solutions to the pressing economic problems of our time.

It offers a new model for financing development in Africa's poorest countries, one that offers economic growth, promises to significantly reduce endemic poverty, and most importantly, does not rely on aid. Though Moyo is not the first economic pundit to take Western aid donors to task, never has the case against aid been made with such rigor and conviction.

She does not pull her punches. See all reviews. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers.

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