A Comparative Analysis of Foreign Aid Effectiveness in Africa and Asia
47 Pages Posted: 21 Jan 2015
Date Written: January 20, 2015
Abstract
From his book the 'Wealth of Nation' Adam smith mentioned that 'the society will be happy and flourishing provided that the fruits of economic growth reach the lowest strata of the society'. But this does not resemble our world today. At least 80 percent of the human population live with less than 10 dollars a day. About 21 percent of the people in the developing world live at below 1.25 dollars a day with 1.22 billion people in 2010 and now 1.4 billion (The World Bank databank). Most developing countries are poor and characterised by low income, high population growth, high mortality rates, increased income inequality, low educational attainment and poor standard of living (Todaro and Smith 2011).
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