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Effects of STABEX on ACPs' economic growth: Further evidence

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  • Francesco Aiello

Abstract

The paper deals with the economic growth of the open and small developing countries which signed the Lome Convention (henceforth ACPs). Results showing that earnings instability damages their economic performance can be used to support the EU policy of guaranteeing financial aid to those countries suffering reductions in export proceeds. The second section of the paper analysing the workings of STABEX, however, highlights certain weaknesses in the effectiveness of STABEX transfers when their impact on economic growth is considered. The general conclusion is that, if the current EU-ACP negotiations for Lome V are to be successful, then some aspects of the scheme (eligibility criteria and use of funds) will have to be radically changed.

Suggested Citation

  • Francesco Aiello, 1999. "Effects of STABEX on ACPs' economic growth: Further evidence," Applied Economics, Taylor & Francis Journals, vol. 31(9), pages 1033-1042.
    • Handle: RePEc:taf:applec:v:31:y:1999:i:9:p:1033-1042
    DOI: 10.1080/000368499323517
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    References listed on IDEAS

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    1. Grilli,Enzo R., 1993. "The European Community and the Developing Countries," Cambridge Books, Cambridge University Press, number 9780521385114, October.
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    Cited by:

    1. Noriko Ishikawa & Mototsugu Fukushige, 2007. "Impacts of tourism and fiscal expenditure to remote islands: the case of the Amami islands in Japan," Applied Economics Letters, Taylor & Francis Journals, vol. 14(9), pages 661-666.
    2. Carl Mela & Praveen Kopalle, 2002. "The impact of collinearity on regression analysis: the asymmetric effect of negative and positive correlations," Applied Economics, Taylor & Francis Journals, vol. 34(6), pages 667-677.
    3. Aiello, Francesco Aiello, 2010. "Experiences with Traditional Compensatory Finance Scheme and Lessons from FLEX - Esperienze dei tradizionali sistemi di compensazione finanziaria e lezioni dal caso FLEX," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 63(1), pages 1-52.
    4. Aiello, Francesco, 2002. "Financial stabilization systems, economic growth of developing countries and EU’s STABEX," MPRA Paper 38099, University Library of Munich, Germany.
    5. Francesco Aiello, 2009. "Experiences With Traditional Compensatory Finance Schemes And Lessons From Flex," Working Papers 200912, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.

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