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Assessing the World Bank’s effectiveness in Colombia = Evaluando la efectividad del Banco Mundial en Colombia
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Digitalización realizada por la Biblioteca Virtual del Banco de la República (Colombia)
Parra Álvarez, Juliana
Ciencias sociales; Ciencias sociales / Economía
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© Derechos reservados del autor
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Banco Mundial; Economic growth; Económico; World Bank
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Despite the large amount of research on aid effectiveness, there is still no consensus about the impact of international aid on economic growth, especially of the World Bank assistance. Empirical studies are characterised to be limited on its methodology and present diverse conclusions. Moreover, the World Bank’s contribution to economic growth in developing countries has been questioned to the point to rethink its role as a source for development.
Colombia is not external to these contradictions; however, this situation arises from perception surveys and national figures. This research evaluates the impact of the World Bank’s lending on Colombia’s economic growth by estimating a model using as a reference the Solow’s model, extended to include a World Bank lending variable. It is expected a positive relationship between the World Bank disbursements and Colombia’s economic growth, which highlights the importance of updating the borrowing strategy with the World Bank in order to take the best advantage of this multilateral finance source.
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