Publisher： Routledge Ltd
ISSN： 0022-0388
Source： Journal of Development Studies, Vol.49, Iss.12, 2013-12, pp. : 1746-1754
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Abstract
This article draws further attention to the importance of taking into account off-budget aid when estimating the degree of foreign aid fungibility. It does so by re-evaluating the results of a recent, influential paper which concluded that health aid is fully fungible in the long run. Allowing for the presence of off-budget aid indicates that the degree of fungibility of health aid is much more uncertain than at first blush appears. Under plausible assumptions about the role of off-budget aid, the conclusion of full fungibility is overturned and at most only a limited degree of fungibility is found.
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