Given the significant inflows of foreign aid to sub-Saharan Africa (SSA) the possibility of Dutch Disease has been a concern. Most macroeconomic models predict that aid inflows, especially if large and/or unanticipated (shocks), will lead to an appreciation of the real exchange rate and...

This paper provides analysis of the macroeconomic management implications of becoming an exporter of oil, taking the case of Ghana and applying to Uganda as a prospective exporter. The paper proceeds in two steps. First, we construct a Dynamic Stochastic General Equilibrium (DSGE) model of a...

Current arrangements under the Lomé Convention have given African, Caribbean and Pacific (ACP) countries preferential access to EU markets, but the legality of this non- reciprocal arrangement has been challenged by the World Trade Organisation. The European Union has proposed replacing these...