Interdependence of trade and public finance policy are important considerations in designing macroeconomic policy, public revenue policy, and public expenditure policy. A competitive real exchange rate, improved trade performance, and trade liberalization are all built on the base of sound...

Ghana's economic program after independence emphasized public investment and spending as the road to growth, a strategy that led to recurring fiscal deficits and declining growth. Since the 1984 Economic Recovery Program, Ghana's fiscal deficits have declined and the public sector has been...

This paper explores the broad themes of the literature on economic growth. It makesthe following two broad conclusions. First, it notes that the efficiency of investment is as important as the level of investment in determining growth performance. Secondly, it states that keeping to a minimum...

After 10 years of successful adjustment, with real economic growth averaging 5 percent per year, Ghana's recorded savings and investment rates remain very low - even by sub-Saharan African standards. However, survey evidence suggests that actual savings and investment rates are much higher than...

This book illustrates the decade-long transformation of the Hungarian sub-national system with a focus on sub-national finance. It shows the rocky path of transition from central command to decentralized local self-governments. Hungary has decentralized and refurbished the state administration,...