Osei, Robert Darko; Morrissey, Oliver; Lloyd, Tim A. - 2003
between aid and fiscal aggregates. Vector autoregressive methods are applied to 34 years of annual data in Ghana to model the … effect of aid on fiscal behaviour. Results suggest that aid to Ghana has been associated with reduced domestic borrowing and … improved fiscal performance in Ghana, implying that the aid has been used sensibly (at least in fiscal terms). …