Assessing the role of foreign aid in the Economic development

The fight for independence in Africa was thought of giving Africans a chance to manage their own internal affaires and limited foreign intervention. Because the Europeans and other developed countries created the impression of always acting as god fathers' to these developing countries, this has caused these countries to over depend on the developed countries for assistance. This study is aimed at assessing the role of foreign aid in the Economic Development of Sub-Saharan countries, with the case of Cameroon development strategy. The Ordinary Least Squares (OLS) technique is used for parameters estimation. The importance of official development assistance and foreign direct investment are reviewed and policy recommendations are made for good management, governance and good policy package can help encourage more of the resources that are necessary for the economic and social development of the country and more importantly for the enhancement and sustainability of trade among countries. The conclusion incorporates the fact that Cameroon's problems are different from those of other African countries.

Autorentext

The Author is an Economist and Researcher with the Centre for Independent Development Research Buea-Cameroon. He holds a B.sc (Hons) in Economics from the University of Buea and a Diploma in International Trade and Development from Trade Policy Training Centre in Africa-Arusha Tanzania.