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Working Paper
Oil discovery and macroeconomic management

This paper analyses the evolution of fiscal and monetary variables in Ghana, from the discovery of oil in 2007 through to 2014. It documents the deterioration of fiscal and monetary discipline over this period, which resulted in a rebound of debt, a...

Book Chapter
Oil discovery and macroeconomic management

Part of Book Extractive Industries

Working Paper
Fiscal policy in times of fiscal stress

South Africa runs a primary fiscal deficit and the long-term interest rate on government borrowing, r , is greater than the long-term economic growth rate, g . Without intervention, debt will continue to rise until there is a disorderly fiscal stop...

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