Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (27 page)

and bond issues
89

and HIV–AIDS
71

IDA graduate success story
38
,
40

market-oriented incentives
34

tribal groupings
32

wise use of aid
76
,
78
,
150

Bottom Billion, The
(Collier)
67–8

BRAC (Bangladesh)
132

Brazil
77
,
82
,
84
,
86
,
93
,
117
,
132
,
151

Bretton Woods conference
10–11
,
13
,
19

British Colonial Development and Welfare Act 1940 (UK)
10

Broadman, Harry G.
123

Burkina Faso
106
,
116
,
120
,
145

Burnside, C.
40

Burundi
145

Bush, President George W.
27
,
55
,
75

Calvinism
31

Cambodia
132

Cameroon
100
,
125

Central African Re/files/20/70/91/f207091/public/Empire
23
,
108

Cerqueira, José
108–9

Chad
116

Chicago School of Economics
20

Chile
42–3

Chiluba, President Frederick
53

China
24
,
34
,
56
,
98–9
,
103–12
,
117–23
,
145–7
,
152

China–Africa Cooperation Forum
103
,
106
,
120

Citizens Economic Empowerment Commission (Zambia)
111

Clay, Sir Edward
48

Clemens, Michael A.
46

CNOOC (Chinese energy company)
105

Cold War
14
,
23–4

Collier, Paul
30
,
32–3
,
60
,
67–8

Colonial Development Act 1929 (US)
10

Commission for Africa
101

Common Agricultural Policy (CAP)
115

‘conditional cash transfers’
150–51

conditionalities of aid
38–9
,
52

conflicts
59–60

Congo, Democratic Republic of
16
,
48
,
53
,
71–2
,
106
,
108

Congo-Brazzaville
87
,
106

Congo-Kinshasa
see
Congo, Democratic Republic of

corruption
22–3
,
35
,
39
,
48–50
,
50–59

Corruption Perceptions Index (CPI)
51
,
56

cotton production
116

CRISIL (ratings, risk, and research firm)
91

Darfur
108

Davies, Omar
136

de Soto, Hernando
137

Dead Aid
proposals
75–6
,
143–8
,
150

debt capital markets
153

democracy
23–4
,
39
,
41–3

Denmark
73
,
125

developing countries
18
,
25
,
29
,
40
,
52
,
63
,
72–4
,
77
,
85–6

Dexia Micro-Credit Fund
131

Diamond, Jared
29

Diamond, Larry
53–4

diaspora bonds
134
,
153

Djankov, Simeon
101

‘Do Corrupt Governments Receive Less Foreign Aid?’ (Alesina/Weder)
52

Doe, Samuel
23

Dollar, D.
40

domestic savings rates
61

Dongo, Republic of
71–3
,
101–2
,
112
,
122–4
,
131–2
,
141
,
145–6
,
152

donors
23–5
,
27
,
38–40
,
45–9
,
55–7
,
67

Dutch disease
63–5
,
142

Easterly, Bill
47
,
67

Economic and Monetary Community of Central Africa
88

Economist
(EIU)
112–13

Egypt
117

EMBI+ index (J. P. Morgan)
80

Emerging Market Bond Index (J. P. Morgan)
82–3

emerging markets
78–81
,
85
,
90–91

Empire: How Britain Made the Modern World
(Ferguson)
34

EMT (Cambodia)
132

Ending Africa’s Poverty Tap
(Sachs)
96

Energy Information Administration (US)
103

Enhanced Structural Adjustment Facility
19

Enron
83

Equatorial Guinea
106
,
120

Ethiopia
72
,
110
,
117

European Investment Bank (EIB)
89–90
,
107

European Union
94
,
118–19

Everything But Arms 2001 (Europe)
118

exports
63–4

Extractive Industries Transparency Initiative (EITI)
49

finance
see
investment

Financial Institutions (report)
87

Financing for Development conference
45–6

Fitch rating agency
83
,
97

Food Aid
45

Food for Peace Program (US)
16

foreign direct investment (FDI)
98–106
,
111–14
,
120
,
124
,
133
,
147

France
36
,
115

free-market system
72–3

Freund, C.
133

Friedman, Milton
20

G8
90

Gabon
77
,
87
,
93
,
106
,
118
,
120
,
146

Gambia
72
,
106

Gazprom (Russia)
112

Geldof, Bob
26–7

GEMLOC Program
90–91

GEMX index
91–2

Germany
36

Ghana

access to banking
131

bond issues
77
,
87
,
89
,
93
,
96–7

and capital markets
146

favourable view of China
109

GDP contraction
16

and long-term debt
87–8

Giuliano, Paola
136

Global Emerging Markets Local Currency Bond Program (GEMLOC)
90–91

globalizers (winning/non-/losing)
114

Grameen Bank
126–32
,
138–9

Greece
125

Grossman, H. I.
59

Guns, Germs and Steel
(Diamond)
29

Hadjimichael, M. T. D.
46

Heavily Indebted Poorest Country debt relief programme (HIPC)
53

HIV–AIDS pandemic
4–5
,
7
,
71–2

Hu Jintao
104
,
108

Human Development Report (1994)
52

Hungary
85–6

IMF (International Monetary Fund)

aid warning
47

appointment of Irwin Blumenthal
53

debt crisis
18–19

and foreign capital
63

inception
11–13

and Malawi
55–6

and ‘nit-picking’
108–9

Structural Adjustment Facilities
21

In Search of Prosperity
(Rodrik)
34

India
112
,
117
,
123
,
132
,
134
,
137–8

India–Africa Forum
112
,
123

Indonesia
34
,
56

Industrial and Commercial Bank (China)
106

inflation
61–5

innovation
139–40

International Bank for Reconstruction and Development
see
World Bank

International Development Association (IDA)
37–8

International Development and Food Assistance Act (US 1975)
16

International Peace Research Institute (Stockholm)
59

International Remittance Network
136

International Trade Organization
11

investment

bonds
77–83
,
87–96

borrowing costs
84–5

credit ratings
78
,
83
,
87–8

emerging markets
79–81
,
85

portfolio diversification
80–82

Ireland
37
,
125

Israel
134

Italy
125

Ivory Coast
109–10

Jamaica
136

Japan
99
,
102–3
,
112
,
125

Johannesburg Stock Exchange
4

John Paul II, Pope
26

joint liability
129

Jubilee Debt Campaign
26

Kagame, President Paul
27–8
,
148–9

Kanbur, Ravi
54

Kariba dam
15

Kenya

and EBA
118

and exports
62

favourable view of China
109

fragile democracy
72

HIV prevalence rates
3

and long-term debt
87–8

money transfer systems
136

population
124

and rampant corruption
48

stake in the economy
152

trade-oriented commodity-driven economy
146

turbulent elections 2008
33

Keynes, John Maynard
11

Kibaki, Mwai
33

Kiva
130

Kurtzman, Joel
51

Lambsdorff, Graf
51

Landes, David
33–4
,
147

least-developed countries (LDC)
123

Lensink, R.
136

Lesotho
118

life expectancy
5

Lin Yifu, Justin
153

Live Aid
26

Lumumba, Patrice
14

Lundin, Lukas
98

M-Pesa (money transfer system)
136

Mahajan, Vijay
132

McLiesh, Caralee
101

McNamara, Robert
16
,
17

maize scandal (Malawi)
56

Malawi
55–6
,
106
,
117
,
145

Mali
71–2
,
94
,
109–10
,
116

Maren, Michael
60

Markit (data/index firm)
91

Marshall, George C.
12

Marshall Plan
12–13
,
35–8

Mauritania
120

Mauritius
34
,
89

Maystadt, Philippe
107

Mengistu Haile Mariam
14
,
23

Mexico
18
,
82
,
84
,
117
,
132
,
144
,
151

micro-finance
126–32
,
140

middle class
57–8

Millennium Challenge Corporation aid campaign (US)
40
,
56

Millennium Development Goals (MDG)
45
,
96–7

Mkapa, President Benjamin
26

Mobutu Sese Seko, President
14
,
22–3
,
48
,
53
,
108

Monterrey Consensus 2002
74

Moody’s Investors Service
83

morality
150

‘More Aid for the Poorest’ (UK white paper)
16

mosquito net producer (example)
44–5
,
114
,
122
,
130–31

Mozambique
117
,
134

Mugabe, Grace
146

Mugabe, Robert
108
,
146–7

Mwanawasa, President Levy
53

Mystery of Capital, The
(de Soto)
137–8

Na’m, Moisés
107

Namibia
89
,
93

‘negative corruption’
57
;
see also
corruption

Netherlands
63

New York City
151
;
see also
United States

New Zealand
121

Nicaragua
151

Nigeria

and AGOA duty-free benefits
118

aid from World Bank
107–8

assets looted
48

banking sector
4

beneficiary of FDI
105

and the bond index
92

and corruption
23

cotton revenues
116

favourable view of China
109

humanitarian catastrophe
26

independence
71

and long-term credit ratings
88

Maiduguri money find
137

many tribes
32

natural-gas reserves development
112

rebuilding colonial-era railway
106

remittances
133

‘No Donor Money, No Loans’ policy
128