US Aid and the Economic Development of Latin America Analytical Essay by Nicky

US Aid and the Economic Development of Latin America
An exploration of US foreign assistance in Latin American countries and its impact on these countries' economic development.
# 148476 | 1,769 words | 9 sources | APA | 2011 | US


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Description:

This paper provides a general discussion of US foreign assistance hinged in the Latin American context. The paper highlights the limited effectiveness of foreign aid and its very real dangers. The paper also offers a review of recommendations or the things that needs to be done to further enhance the economic growth of Latin American nations, supplemental to the overall objectives of USAID.

Outline:
On US Foreign Assistance
US Foreign Assistance in Latin America
Effectiveness In Question
What Can Be Done?
The Obama Factor

From the Paper:

"This account is seconded by Wenar (n.d.) as he states that the current state of international development aid which involves the range of efforts by the world's powerful countries towards improving the condition of the poor countries of the world is faced by numerous challenges. Firstly, the technical challenges in the design of the projects. Take the case of Asia and Africa - they have a lot of decaying projects because the operation of these projects did not suit the skills and customs of its target end-users. Secondly, the projects are diverted away from its target population because state institutions of these poor countries tend to be weak and inefficient. And in the process, we only encounter the "iron law of political economy" in which the resources that were initially allocated to the poor tend to flow towards those who possess more power because the state is inefficient in regulating these resources."

Sample of Sources Used:

  • Bovard, J. (1986). The Continuing Failure of Foreign Aid. Retrieved fromhttp://www.cato.org/pubs/pas/pa065.html on April 28, 2009.
  • de Gato, R. (2005). International Monetary Fund. Retrieved fromhttp://www.imf.org/external/np/speeches/2005/022305.htm on April 28, 2009.
  • Elliot, D. (2007). U.S. Funnels Millions to Latin American Economies. Retrieved from http://www.npr.org/templates/story/story.php?storyId=7834702 on April 27, 2009.
  • Smith, M.S. (2009). Obama heads to Americas summit with Cuba focus. Retrieved fromhttp://news.yahoo.com/s/ap/20090417/ap_on_re_la_am_ca/cb_obama_summit on April 28, 2009.
  • Veilette, C., Ribando, C. & Sullivan, M. (2006). U.S. Foreign Assistance to Latin America and the Caribbean. Retrieved from http://www.nationalaglawcenter.org/assets/crs/RL32487.pdf on April 27, 2009.

Cite this Analytical Essay:

APA Format

US Aid and the Economic Development of Latin America (2011, October 26) Retrieved February 23, 2024, from https://www.academon.com/analytical-essay/us-aid-and-the-economic-development-of-latin-america-148476/

MLA Format

"US Aid and the Economic Development of Latin America" 26 October 2011. Web. 23 February. 2024. <https://www.academon.com/analytical-essay/us-aid-and-the-economic-development-of-latin-america-148476/>

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