Korean Bilateral Official Development Assistance to Africa Under Korea's Initiative for Africa's Development

Abstract

In the past several years, the Republic of Korea-a former least developed country (LDC) and aid recipient that became a donor-joined the "club of emerging donors" to Africa. In March 2006, President Roh Moohyun declared Korea's Initiative for Africa's Development. The initiative puts poverty reduction and socioeconomic development of African countries in the forefront. Using pooled cross-sectional time series data, in this study we examine the determinants of Korean bilateral official development assistance (ODA) to Africa for the period 1991-2011. The findings of the study suggest that the approach of Korean ODA does not differ significantly from that of many conventional donors whose ODA disbursement has had a dual purpose: to improve the welfare of developing countries and to serve self-interests.