Easier access to credit can replace foreign aid: St Louis Fed paper

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Better access to international credit can help recipient countries reduce the amount of foreign aid it receives, according to a St Louis Federal Reserve paper, published on Wednesday.

Subhayu Bandyopadhyay, Sajal Lahiri and Javed Younas, the paper's authors, examine the interaction between foreign aid and the binding borrowing constraint for a recipient country in order to discover whether easier access to international credit should replace foreign aid.

Foreign aid and international credit can

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