This benchmark study by two leading authorities on international development cooperation argues that taxpayer-financed aid remains the best mechanism for promoting greater equality between North and South and within the countries of the South. Therefore it should be continued while at the same time being made more effective and efficient, and the authors present ideas to achieve this. They conclude by examining new modes of financing development and new modes of international cooperation aimed at bringing about growth and human development. This major study - replete with detailed statistical and factual information, comprehensive in scope, and penetrating in its analysis - is likely to stand as the authoritative account of international aid for many years.