APEC & Development Co-operation
Mohamed Ariff
Jan. 1998 · ISEAS series on APEC Boek 5 · Institute of Southeast Asian Studies
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The traditional form of official development assistance (ODA) has assumed less importance. With more liberalized conditions fostering a more open economic environment in the developing countries, private resources and multilateral bank lending have assumed a leading role. This means that those countries not favouring open policies will be left behind while they rely on ODA as the only resource -- yet this resource is declining.Following the devastations caused by the 1997 Asian Currency Crisis, it is clear that coherent APEC guidance to create sufficiency in infrastructure is necessary. A reassessment of ODA for infrastructure is recommended while not demeaning the dependence of some poorer nations on the traditonal form of development assistance.
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Mohamed Ariff hold the Chair of Analytical Economics in the Faculty of Economics and Administration, University of Malaya, Kuala Lumpur.
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