January 07, 2014
[It is] not to say that Western aid and loans cannot produce better governance and wiser economic policies. You can find evidence that it has done so in fragile democracies like Liberia, or in relatively effective autocracies like Ethiopia. Such assistance only works, however, "if you really, really have an honestly keen recipient," as Charles Kenny of the Center for Global Development puts it. Some states have jumped through hoops to join the European Union, but President Yanukovych and his compliant parliament dragged their feet on the political and economic reforms the union required. Even had Yanukovych agreed to sign the "association agreement" offering free trade with Europe, he probably would have reneged on his reform commitments.