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Staff Working Papers and Policy Briefs


Ghana: Fiscal Policy Responsiveness, Persistence and Discretion

Fiscal policy involves the use of government expenditure and taxation to influence the level and direction of economic activity in an economy. In periods of economic slowdown, fiscal authorities can prop up growth in economic activity by either increasing government spending or lowering taxes or do both whereas in times of overheated economy, government expenditure is lowered or taxes increased or both.

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Monitoring Cross Border Capital Flows in Ghana
Foreign Direct Investment (FDI) constitutes a major source of financing and provides the much needed capital to expand economic opportunities in many developing countries. FDI inflows constitute a stable source of current account financing and enhances the growth potential of developing countries through the multiplier effects of technology transfer and increased competition

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Monitoring Cross Border Capital Flows in Ghana – 2009 Survey Findings and Policy Issues
In sub-Saharan Africa, private capital flows constitutes a major source of capital to meet financing requirements aimed at economic expansion.

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POST RE-DENOMINATION SURVEY OF BANKS, CONSUMERS AND RETAILERS
In July 2007, the Cedi was re-denominated by removing four (4) zeros such that the ¢10,000 note was made equivalent to a new GH¢1 note. Among the expected benefits were that the re-denomination exercise would result in a reduction in transactions costs and overall risks of carrying large volumes of notes and also simplify accounting records.

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CAUSAL LINKAGES BETWEEN GOVERNMENT REVENUE AND EXPENDITURE: EVIDENCE FROM GHANA

This study examines the causal links between revenues and expenditures of Ghana over the period 1983 to 2007 within the framework of Engle-Granger bivariate cointegration and error correction model.

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