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...
Working Paper
The boom, the bust, and the dynamics of oil resource management in Ghana
Oil resources are neither a curse nor a blessing. The sound management of these resources can make them beneficial or otherwise. In order to translate Ghana’s oil resources into inclusive development amid high expectations, several laws and...
Working Paper
Macroeconomic risks after a decade of microeconomic turbulence
This study analyses the performance of macroeconomic policy in South Africa in 2007–2020 and outlines challenges for policy in the coming decade. After remarkable economic growth in 1997–07, South Africa’s progress slowed dramatically in 2009 with...
Working Paper
Employment and development in Asia
How have economic development, employment, and labour markets in Asian countries interacted since the publication of Myrdal’s Asian Drama? Myrdal rejected, the western approach to and definition of employment and emphasized the role of ‘informal’...
Working Paper
COVID-19: macroeconomic dimensions in the developing world
The COVID-19 pandemic represents an unprecedented global crisis. The task for economic policy is to help keep people alive, enterprises afloat, and households out of poverty. The pandemic has macroeconomic dimensions. First, it affects macroeconomic...