Aid is one of the major issues in development and international relations. Over the last 50 years there have been remarkable changes in our understanding of aid's limits and potentialities as an instrument of economic, social and political change. This important collection brings together major landmark contributions to the analysis, structured around key issues and debates and offers an overview of present understanding. Aid's role in the new global political economy is under intense scrutiny, as analysts, politicians and civil society struggle to reach a consensus on such issues as how much and what kinds of aid to support, to which countries to allocate aid and under what conditions.

Equally accessible to economists and non-economists, Foreign Aid in the New Global Economy provides an invaluable reference for anyone with a policy interest in aid, its consequences for international development and the theoretical underpinnings.