Restraints on the public budget may limit the ability of the public sector to use financial markets for the diversification of shocks. This interferes with the role of the public budget as a buffer which may provide insurance by stabilizing income and thereby private consumption. We consider...

Restraints on the public budget limit the ability of the public sector to use financial markets for intertemporal substitution. This interferes with the role of the public budget as a buffer which provides insurance and possibly stabilizes income and thereby private consumption. We consider this...

Regional economic integration arrangements have their own purpose, legal framework, institutional set-up, history, and trajectory, and this paper aims to study these factors in relation to the Economic Community of West African States (ECOWAS). When dealing with regional integration, it is...