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The Structure and Volume of Bilateral Resource Flows

In: Migration of Financial Resources to Developing Countries

Author

Listed:
  • Dilip K. Das

Abstract

The concept of transnational resource flows and/or international lending is now a clearcut one, though for a couple of decades it was nebulous and discipline lacked precision. The haze has now been dispelled, for all practical purposes it implies extension of grants and/or loans to non-residents by governments and government agencies, and the multilateral organisations. A great deal of ambiguity is caused by the expression ‘aid’. Strictly defined, it should refer only to the value of the subsidy implicit in the total flow of resources. Accordingly, grants in convertible currency can be called ‘aid’ to the full extent of their value, while loans cannot, because they will only have an element of aid, at times an insignificant element. One must not lump these and other kinds of ‘aid’, while trying to reckon cost to donors or benefit to recipients. Indubitably the donor assists the recipient by providing financial resources at the right time and in the right sector, but can one always refer to it as ‘aid’? Moneylenders generally benefit the clients, but we do not think of them as ‘aid’ givers.1

Suggested Citation

  • Dilip K. Das, 1986. "The Structure and Volume of Bilateral Resource Flows," Palgrave Macmillan Books, in: Migration of Financial Resources to Developing Countries, chapter 4, pages 69-136, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-18291-6_4
    DOI: 10.1007/978-1-349-18291-6_4
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