Wouldn’t there be a big lag between investment and the payoff to the country?
This depends on the appropriate time frame. Most development programs have to be thinking of 5 to 10-year horizons, and any program aimed at making substantial changes in institutions or behaviors also has to consider long time frames. The lag in payments is likely to make the contract seem unattractive to short-sighted leaders, but very attractive to those who have longer-term visions. This is, then, another attraction of this approach since it is most likely to be taken up by the same leaders who are most likely to use it well.
