Challenging Foreign Aid: A Policymaker's Guide to the Millennium Challenge Account

by Steven Radelet
May 2003
Book Description

In March 2002, President George W. Bush proposed establishing the Millennium Challenge Account (MCA), a new foreign aid program designed to provide substantial assistance to a select group of low-income countries that are committed to sound development policies. The MCA could bring about the most fundamental changes to US foreign assistance policy in 40 years.In this study, Steven Radelet examines the MCA's potential promise and possible pitfalls. He offers a rigorous analysis of the MCA's central challenge: making foreign aid more effective in supporting economic growth and poverty reduction in the poor countries. He systematically explores what makes the MCA different and pinpoints the critical issues that will determine its success or failure.The book concludes with important recommendations about how the MCA should be strengthened to solidify its innovation and independence and to ensure coordination with other US foreign aid programs. Written at a practical level, this book is an invaluable resource for anyone seriously interested in the MCA and US foreign assistance policy.

Other Buying Options
Non-US customers: for faster service, please order through Eurospan.
Book Data

May 2003
ISBN paper 978-0-88132-354-2
212 pp.

Commentaries on This Book

"Steve Radelet brings an academic's insight and a policy maker's savvy to an exposition of the most ambitious US foreign aid program in 40 years."

George Soros
President and Chairman,
Soros Fund Management

"Steven Radelet is the leading analyst of the MCA. His expertise as a top development practitioner, a scholar, and a former senior Treasury official shows through on every page of this important, judicious, and timely study."

Jeffrey Sachs
Earth Institute, Columbia University

"The Millennium Challenge Account is designed to direct more resources to countries that help themselves. Dr. Radelet's important study on the MCA deserves careful and extensive consideration."

Peter McPherson
Michigan State University,
and former administrator of the US Agency for International Development

Other Books of Interest