Aid institutions and development : new approaches to growth governance and poverty 1. Introduction 2. Institutions governance and growth 3. The nature and content of aid 4. The role of donors and recipient responses 5. Inequalities economic growth and poverty reduction 6. New strategies for aid and development 7. The way ahead In spite of massive flows over the past 50 years aid has failed to have any significant impact on development. Marginalization from the world economy and increases in absolute poverty are causing countries to degenerate into failed oppressive and in some cases dangerous states. To address this malaise Ashok Chakravarti argues that there should be more recognition of the role economic and political governance can play in achieving positive and sustainable development outcomes