Did 272 billion dollars from China help stabilize business cycle fluctuations in recipient countries?

Abstract

In this paper, we assess the business cycle characteristics of China's official finance (OF) commitments to developing countries over the period 2000 to 2014 and compare it to the business cycle characteristics of aid from traditional bilateral and multilateral donors. We contribute to the recent literature on the determinants of Chinese OF by assessing whether Chinese OF are timed in a way that smooth output and revenue fluctuations in recipient countries.