NYU’s Development Research Institute Recognized for Scholarship on Impact of Foreign Aid


New York University s Development Research Institute (DRI) has been recognized by Spain s BBVA Foundation for its innovative scholarship on the impact of foreign aid. In selecting DRI for its 2009 Frontiers of Knowledge Award, which carries a cash prize of 400,000 (approximately $560,000), the foundation also noted the institute s challenge to the conventional wisdom in development assistance.

New York University’s Development Research Institute (DRI) has been recognized by Spain’s BBVA Foundation for its innovative scholarship on the impact of foreign aid. In selecting DRI for its 2009 “Frontiers of Knowledge Award,” which carries a cash prize of € 400,000 (approximately $560,000), the foundation also noted the institute’s “challenge to the conventional wisdom in development assistance.”

DRI, whose research focuses on the economic development and growth of poor countries, is led by NYU’s William Easterly and Yaw Nyarko, both professors of economics.

“DRI has brought a fresh approach to aid and development research, helping ensure that the economic aid rich countries provide to the developing world is better utilized,” the BBVA Foundation said in its announcement. “Its results question certain mainstream assumptions in development cooperation, like the idea that more generosity on the part of rich donor countries will have an automatic pay-off 500

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