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Are Foreign Aid and Remittance Inflows a Hedge against Food Price Shocks?

Are Foreign Aid and Remittance Inflows a Hedge against Food Price Shocks? by International Monetary Fund
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This paper explores the role of foreign aid and remittance inflows in the mitigation of the effects of food price shocks. Using a large sample of developing countries and mobilising dynamic panel data specifications, the econometric results yield two important findings. First, remittance and aid inflows significantly dampen the effect of food price shocks in the most vulnerable countries. Second, a lower remittance-to-GDP ratio is required in order to fully absorb the effects of food price shocks compared to the corresponding aid-to-GDP ratio.
International Monetary Fund; March 2012
28 pages; ISBN 9781463949587
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Title: Are Foreign Aid and Remittance Inflows a Hedge against Food Price Shocks?
Author: International Monetary Fund