No / The method used by Development Assistance Committee countries for measuring the concessionality of aid loans has remained unchanged for nearly 20 years. It was designed to measure the net cost of aid to donors not the net benefit to recipients. The discount rate used takes no account of changes in the value of the currency of the loan or of changes in prices for goods traded by recipient countries. Furthermore, it does not consider the implications of tying of aid or of policy conditionality. This paper suggests an alternative measure that shows the real net benefit of aid finance to recipients. It argues that the discount rate used by the Development Assistance Committee is too high and that changes in the value of the currency in which a loan is taken out can be important. Nevertheless, real rates of interest for developing countries remain surprisingly high despite low nominal rates due to falling prices of traded goods. This finding has implications for the future real cost of debt service to recipients.

<p>U ovom istraţivanju bavimo se kategorijom koncesivnosti u francuskom, italijanskom i srpskom jeziku. Ovoj kategoriji pristupamo sa stanovi&scaron;ta sintakse i semantike: utvrĊujemo inventar formalnih sredstava i sintakstiĉkih postupaka kojima se koncesivnost formalizuje u posmatranim jezicima, a pritom analiziramo i semantiĉki sadrţaj tih struktura. Cilj ove studije jeste da se najpre ustanove razliĉiti postupci izraţavanja koncesivnosti na svim sintaksiĉkim nivoima, a zatim, u skladu sa kontrastivnim pristupom, da se utvrde i sistematizuju strukturne podudarnosti i nepodudarnosti u francuskom, italijanskom i srpskom jeziku, kao i da se utvrdi stemen semantiĉke ekvivalencije izmeĊu njih. Na teorijskom planu, rezultati ovog istraţivanja objedinjuju postojeća lingvistiĉka saznanja o ovoj problematici, a na praktiĉnom planu moguća je njihova primena u nastavi francuskog i italijanskog jezika kao stranih jezika, kao i u prevodilaĉkoj praksi.<br />GraĊa za ovo istraţivanje ekscerpirana je iz dela napisanih na francuskom jeziku, i njihovih objavljenih prevoda na italijanski i srpski jezik.<br />U prvom delu rada daje se pregled teorijskih stavova francuskih, italijanskih i srpskih lingvista o kategoriji koncesivnosti, kao i o njenom odnosu sa drugim semantiĉkim kategorijama, pre svega sa kategorijom kauzalnosti. U drugom delu rada navodi se inventar konstrukcija i leksiĉkih sredstava kojima se koncesivnost iskazuje u tri posmatrana jezika. Pri tom se pravi poseban osvrt na upotrebu glagolskih naĉina u zavisnim koncesivnim reĉenicama. Centralni deo rada predstavlja deo u kome se ustanovljeni inventar analizira na primerima iz korpusa. Pri tom se posebna paţnja posvećuje onim sredstvima za koja korpus beleţi upotrebe koje do sada nisu zabeleţene u literaturi. Zakljuĉna razmatranja sistematizuju dobijene rezultate, i ukazuju na mogućnosti daljih istraţivanja u ovom domenu.</p> / <p>This research deals with the category of concessionality in French, Italian and Serbian. This category is approached from the point of view of syntax and semantics: the research establishes the inventory of formal means and syntactic procedures by which concessionality is formalized in the languages being analyzed, while the semantic content of these structures is also analyzed in the process. The goal of this study is to first identify various procedures for expressing concessionality at all syntactic levels and then, in accordance with the contrastive approach, to determine and systematize the structural congruences and incongruences in French, Italian and Serbian, as well as to determine the level of semantic equivalence among them. At the theoretical level, the results of this study merge the existing linguistic knowledge on this issue, while at a practical level they enable its application in teaching French and Italian as foreign languages, as well as in doing professional translation.<br />The corpus for this research was complied from literary titles written in French, as well as from their published translations into Italian and Serbian.<br />The first part of the thesis provides an overview of theoretical approaches to the category of concessionality by various French, Italian and Serbian linguistcs, as well as of its relationship with other semantic categories, in particular with the category of causality. The second part enumerates the inventory of constructions and lexical means by which concessionality is being expressed in the three languages being analyzed. In doing so, a particular focus is placed on the use of the verbal category of mood in subordinate clauses of concession. The central part of the thesis is the one in which the identified inventory is analyzed on the examples from the corpus. In this part, a special attention is given to the means found in the corpus the use of which has so far not been mentioned in reference titles. Concluding remarks systematize the results and point at possible directions for further research in this field.</p>

Cette thèse propose une analyse empirique de deux stratégies majeures du financement du développement; les annulations de dette et la mobilisation des ressources domestiques. Les trois premiers chapitres tentent d'analyser les effets des annulations de dette du début des années 2000 sur les finances publiques et les possibilités de réendettement des gouvernements bénéficiaires. Nos résultats montrent que les annulations de dette concédées via les initiatives PPTE et IADM ont permis d'améliorer significativement la composition budgétaire des gouvernements récipiendaires et de diversifier leurs sources de financement. Néanmoins, d'autres résultats mettent en lumière l'existence d'un aléa moral induit par ces initiatives, nécessitant ainsi une surveillance accrue des politiques budgétaires, notamment une fois l'annulation de dette octroyée. Enfin, le quatrième chapitre tente de revisiter la relation entre fiscalité et croissance en adoptant une approche macro-micro à l'aide de données de firmes. Notre analyse montre que la fiscalité est bénéfique à l'activité des entreprise, en particulier celles des pays à faible revenu. Par ailleurs, d'autres résultats suggèrent que cet effet est renforcé lorsque ces mêmes firmes font face à une faible corruption, réitérant ainsi la nécessité pour les pays en développement d'établir un environnement économique et politique sain. / This thesis aims at investigating empirically the effects of two financing strategies for low-income countries; debt relief and taxation. The first three chapters focus on the consequences of debt relief for public finance and new external financing. Results show that cancellations granted under the multilateral debt relief initiatives have been beneficial for recipient countries by significantly improving the composition of their budget and widening financing opportunities. However, findings also underline the risk of moral hazard stemming from these initiatives which thus calls for continuous sound fiscal management, especially after debt relief. Lastly, the fourth chapter revisits the taxation-growth nexus adopting a macro-micro approach. Using firm-level data in developing countries our findings suggest that taxation is favorable to firms' activity, especially when firms operate in poor countries characterized by a significant lack of infrastructure. Moreover, this effect of taxation seems to be maximal in the absence of corruption, hence reaffirming the need for healthy and enabling economic and political environments in developing countries.