D. Acemoglu, S. Johnson, and J. Robinson, The Colonial Origins of Comparative Development: An Empirical Investigation, American Economic Review, vol.91, issue.5, pp.1369-1401, 2001.
DOI : 10.1257/aer.91.5.1369

D. Acemoglu, S. Johnson, J. Robinson, and Y. Thaicharoen, Institutional causes, macroeconomic symptoms: volatility, crises and growth, Journal of Monetary Economics, vol.50, issue.1, pp.49-123, 2003.
DOI : 10.1016/S0304-3932(02)00208-8

A. Alesina and B. Weder, Do Corrupt Governments Receive Less Foreign Aid?, American Economic Review, vol.92, issue.4, pp.1126-1137, 2002.
DOI : 10.1257/00028280260344669

URL : http://nrs.harvard.edu/urn-3:HUL.InstRepos:4553011

H. Almeida and D. Ferreira, Democracy and the Variability of Economic Performance, Economics and Politics, vol.14, issue.3, pp.225-257, 2002.
DOI : 10.1111/1468-0343.00107

S. Africa, Economic Development and Cultural Change, pp.255-285

J. Brun, G. Chambas, and S. Guerineau, Aide et mobilisation fiscale dans les pays en développement, AFD Programme RCH Aide et politique budgétaire, pp.65-2006, 2006.

L. Chauvet and P. Guillaumont, Towards Pro-Poor Policies -Aid, Institutions and Globalization, chap. Aid and Growth Revisited : Policy, Economic Vulnerability and Political Instability, pp.111-131, 2004.

L. Chauvet and P. Guillaumont, Aid, Volatility, and Growth Again: When Aid Volatility Matters and When it Does Not, Forthcoming in the Review of Development Economics, 2007.
DOI : 10.1111/j.1467-9361.2009.00501.x

URL : https://hal.archives-ouvertes.fr/halshs-00557123

P. Collier and J. Dehn, Aid, Shocks and Growth, 2001.
DOI : 10.1596/1813-9450-2688

P. Collier and B. Goderis, Does Aid Mitigate External Shocks?, Review of Development Economics, vol.79, issue.3, pp.2007-2025, 2007.
DOI : 10.1111/j.1467-9361.2009.00500.x

D. Coviello and R. Islam, Does aid help improve economic institutions?, Policy Research Working Paper Series, vol.3990, 2006.
DOI : 10.1596/1813-9450-3990

S. Djankov, J. Montalvo, and M. , The curse of aid, Journal of Economic Growth, vol.126, issue.2, pp.169-194, 2008.
DOI : 10.1007/s10887-008-9032-8

W. Easterly and A. Kraay, Small States, Small Problems? Income, Growth, and Volatility in Small States, World Development, vol.28, issue.11, pp.2013-2027, 2000.
DOI : 10.1016/S0305-750X(00)00068-1

A. Goldsmith, Foreign Aid and Statehood in Africa, International Organization, vol.55, issue.1, pp.123-148, 2001.
DOI : 10.1162/002081801551432

P. Guillaumont and L. Chauvet, Aid and Performance: A Reassessment, Journal of Development Studies, vol.37, issue.6, pp.66-92, 2001.
DOI : 10.1080/713601083

R. Hall and C. Jones, Why Do Some Countries Produce So Much More Output per Worker than Others?, Quarterly Journal of Economics, vol.1, issue.114, pp.83-116, 1999.

J. Helliwell, Empirical Linkages Between Democracy and Economic Growth, British Journal of Political Science, vol.24, issue.02, pp.225-248, 1994.
DOI : 10.1017/S0007123400009790

B. Hoffman, Development despots: foreign aid, domestic policies, and the quality of governance, 2003.

D. Horowitz, Democracy in Divided Societies, Journal of Democracy, vol.4, issue.4, pp.18-38, 1993.
DOI : 10.1353/jod.1993.0054

E. Huber, D. Rueschemeyer, and J. Stephens, The Impact of Economic Development on Democracy, Journal of Economic Perspectives, vol.7, issue.3, pp.71-86, 1993.
DOI : 10.1257/jep.7.3.71

S. Kalyvitis and I. Vlachaki, Foreign aid and democratisation: Evidence from a multinomial logit model, 2005.

S. Knack, Aid Dependence and the Quality of Governance: Cross-Country Empirical Tests, Southern Economic Journal, vol.68, issue.2, pp.310-329, 2001.
DOI : 10.2307/1061596

S. Knack, Does Foreign Aid Promote Democracy?, International Studies Quarterly, vol.48, issue.1, pp.251-256, 2004.
DOI : 10.1111/j.0020-8833.2004.00299.x

URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.465.998

S. Knack and A. Rahman, Donor fragmentation and bureaucratic quality in aid recipients, Policy Research Working Paper Series, vol.3186, 2004.

A. Lijphart, Democracy in Plural Societies: A comparative exploration, 1977.

S. Lipset, Some Social Requisites of Democracy: Economic Development and Political Legitimacy, American Political Science Review, vol.1, issue.01, pp.69-105, 1959.
DOI : 10.2307/1951731

R. Mcnab and S. Everhart, Rotting from the Head: Donors and LDC Corruption chap. Aid, Governance, and Growth, 2002.

E. Mendoza, Terms-of-trade uncertainty and economic growth, Journal of Development Economics, vol.54, issue.2, pp.323-356, 1997.
DOI : 10.1016/S0304-3878(97)00046-1

A. M. Mobarak, Democracy, volatility and economic development The review of economics and statistics, pp.348-361, 2005.

D. North, Institutions, Institutional Change, and Economic Performance, 1990.
DOI : 10.1017/CBO9780511808678

D. Quinn and J. Woolley, Democracy and National Economic Performance: The Preference for Stability, American Journal of Political Science, vol.45, issue.3, pp.634-657, 2001.
DOI : 10.2307/2669243

G. Ramey and V. Ramey, Cross-Country Evidence on the Link Between Volatility and Growth, The American Economic Review, vol.85, issue.5, pp.1138-1151, 1995.
DOI : 10.3386/w4959

D. Rodrik, Democracy and Economic Performance, 1997.

D. Rodrik, Institutions for High-Quality Growth: What They are and How to Acquire Them, NBER Working Papers National Bureau of Economic Research, vol.7540, 2000.

D. Rodrik, A. Subramanian, and F. Trebbi, Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development, Journal of Economic Growth, vol.9, issue.2, pp.131-165, 2004.
DOI : 10.1023/B:JOEG.0000031425.72248.85

J. Sachs and A. Warner, Natural resource abundance and economic growth, Center for International Development and Harvard Institute for International Development, 1997.
DOI : 10.3386/w5398

J. Svensson, Foreign aid and rent-seeking, Journal of International Economics, vol.51, issue.2, pp.437-461, 2000.
DOI : 10.1016/S0022-1996(99)00014-8

J. Tavares, Does Foreign Aid Corrupt?, SSRN Electronic Journal, vol.79, issue.1, pp.99-106, 2003.
DOI : 10.2139/ssrn.284533

E. Weede, Political regime type and variation in economic growth rates, Constitutional Political Economy, vol.21, issue.2, pp.167-176, 1996.
DOI : 10.1007/BF00128160

=. Africa, Dummy variable taking value 1 if a country belongs to Africa, 0 otherwise. (Source: author)