近年来,学术研究逐步朝着外援能够改善总体经济增长的观点集中。我们采用模拟的方法:(1)验证2008年以来出版的对外援助—增长实证研究的一致性;(2)计算对外援助收益率的合理范围。我们的结果强调了,对外援助投资的长期属性和渠道的重要性,而非物理资本的积累。我们发现对外援助的收益通常存在于公共投资之中,同时鲜有关于投资对生产力有严重负面影响这类观点的评价。JEL代码:E1,O11,O41。 In recent years, academic research has gradually concentrated on the point that foreign aid can improve overall economic growth. We use a simulation approach: (1) to verify the consistency of the foreign aid-growth empirical research published since 2008; and (2) to calculate the reasonable range of the foreign aid rate of return. Our results underline the importance of long-term attributes and channels of foreign aid investment, not the accumulation of physical capital. We find that the benefits of foreign aid are usually found in public investment, with little comment on the view that investments have a serious negative impact on productivity. JEL codes: E1, O11, O41.