Does Aid Work? (Library of Political Economy)

Critics of foreign aid claim that assistance is often ineffective and sometimes counterproductive. And yet in this study commissioned by the World Bank and the IMF, Robert Cassen and a team of independent consultants show that most aid is successful in terms of its own objectives and obtains a reasonable rate of return. Acknowledging the possible pitfalls of foreign aid, Cassen compares them with those of other forms of private and public investment, and concludes with a proposal for improving effectiveness.

In Does Aid Work, the volume arose from a study conducted for an intergovernmental task force. The team surveyed the published literature, reviewed existing evaluations of aid projects, and undertook seven detailed country studies. At the same time, this book analyses the frequent failings of aid projects, compares these failings with other forms of private and public investment, and proposes measures for improving aid effectiveness. For this second edition the book has been shortened, removing mainly the more technical parts.