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Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries. GDP is most often used by the government of a single country to measure its economic health. Due to its complex and subjective nature, this measure is often revised before being considered a reliable indicator.
In macroeconomics and finance, a transfer payment is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. Examples of transfer payments include welfare, financial aid, social security, and government subsidies for certain businesses.
Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done. When a government agency buys goods or services through this practice, it is referred to as government procurement or public procurement.
Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment. These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product.
Official development assistance (ODA) is a category used by the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) to measure foreign aid. The DAC first adopted the concept in 1969. It is widely used as an indicator of international aid flow. It refers to material resources given by the governments of richer countries to promote the economic development of poorer countries and the welfare of their people. The donor government agency may disburse such resources to the government of the recipient country or through other organizations. Most ODA is in the form of grants, but some is measured as the concessional value in soft (low-interest) loans.
In political economy and international relations, conditionality is the use of conditions attached to the provision of benefits such as a loan, debt relief or bilateral aid. These conditions are typically imposed by international financial institutions or regional organizations and are intended to improve economic conditions within the recipient country.
Development aid is a type of foreign/international/overseas aid given by governments and other agencies to support the economic, environmental, social, and political development of developing countries. Closely related concepts include: developmental aid, development assistance, official development assistance, development policy, development cooperation and technical assistance. It is distinguished from humanitarian aid by aiming at a sustained improvement in the conditions in a developing country, rather than short-term relief. Development aid is thus widely seen as a major way to meet Sustainable Development Goal 1 for the developing nations.
Aid effectiveness is the degree of success or failure of international aid. Concern with aid effectiveness might be at a high level of generality, or it might be more detailed.
In international relations, aid is – from the perspective of governments – a voluntary transfer of resources from one country to another.
Development geography is a branch of geography which refers to the standard of living and its quality of life of its human inhabitants. In this context, development is a process of change that affects peoples' lives. It may involve an improvement in the quality of life as perceived by the people undergoing change. However, development is not always a positive process. Gunder Frank commented on the global economic forces that lead to the development of underdevelopment. This is covered in his dependency theory.
An export credit agency or investment insurance agency is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export insurance solutions and guarantees for financing. The financing can take the form of credits or credit insurance and guarantees or both, depending on the mandate the ECA has been given by its government. ECAs can also offer credit or cover on their own account. This does not differ from normal banking activities. Some agencies are government-sponsored, others private, and others a combination of the two.
Japan emerged as one of the largest foreign aid donors in the world during the 1980s.
Tied aid is a kind of foreign aid. It must be spent on products & services provided by companies that are from the country providing the aid or in a group of selected countries.
Budget support is a particular way of giving international development aid, also known as an aid instrument or aid modality. With budget support, money is given directly to a recipient country government, usually from a donor government. Budget support differs from other types of aid modalities such as:
- Balance of payments support, which is currently mainly the domain of the International Monetary Fund. With balance of payments support the funds go to the central bank for foreign exchange purposes, while with budget support they generally go to the Ministry of Finance and into the budget for public spending.
- Project aid, where development assistance funds are used by donors to implement a specific project, with donors retaining control of the project's financing and management.
An import is the receiving country in an export from the sending country. Importation and exportation are the defining financial transactions of international trade.
The Organisation for Economic Co-operation and Development's (OECD) Development Assistance Committee (DAC) is a forum to discuss issues surrounding aid, development and poverty reduction in developing countries. It describes itself as being the "venue and voice" of the world's major donor countries.
Material flow accounting (MFA) is the study of material flows on a national or regional scale. It is therefore sometimes also referred to as regional, national or economy-wide material flow analysis.
Official statistics are statistics published by government agencies or other public bodies such as international organizations as a public good. They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and the environment.
Publish What You Fund is a global campaign for aid transparency– more and better information about aid.
Four high level forums on aid effectiveness were held between 2003 and 2011 as part of a "continuous effort towards modernising, deepening and broadening development co-operation and the delivery of aid" coordinated through the OECD. They took place at Rome (2003), Paris (2005), Accra (2008) and Busan (2011).
References
- ↑ “Untied aid,”OECD Glossary of Statistical Terms, OECD.org, 18 July 2007 <http://stats.oecd.org/glossary/detail.asp?ID=2817>.
- ↑ “Tied aid credits,” OECD Glossary of Statistical Terms, OECD.org, 18 July 2007 <http://stats.oecd.org/glossary/detail.asp?ID=3089>.
- ↑ “Untying aid to the Least Developed Countries,” OECD Policy Brief, OECD Observer July 2001, OECD.org, 18 July 2007 <http://www.oecd.org/dataoecd/16/24/2002959.pdf>.