OCCASIONAL PAPERS

August 12, 2017

Economic Analysis of Advertising in the Legal market in Ghana and Proposals for Reform [Occasional Paper 11]

Occasional Paper 11. Economic Analysis of Advertising in the Legal market in Ghana and Proposals for Reform The law and economics framework is used to study the implication of lifting the ban on social media use in advertising in the legal market in Ghana, and how transaction costs, the information, bargaining, policing cost associated with transaction or an agency rule defines the integrity of the interactions between the two parties. Read full paper here Occasional Paper 11
June 6, 2017

Fiscal Decentralization in Ghana: Progress and Challenges [Occasional Paper 10]

Occasional paper 10. Fiscal Decentralization in Ghana: Progress and Challenges Policy makers in Ghana have lauded the fiscal decentralization as a positive driver of substantial government growth and development. Since 1992, Ghana has made strives at implementing fiscal decentralization in Ghana. However, the implementation of the program and management of revenue at the local level has been challenging. This paper provides a general overview of decentralization in Ghana and examines local government fiscal management Read full paper here Occasional Paper 10
March 24, 2017

Fiscal Rigidities and their Effects in Ghana: What Should the Government do? [Occasional Paper 09]

Occasional Paper 9. Fiscal Rigidities and their Effects in Ghana: What Should the Government Do? In spite of the fact that many reasons are usually used to justify the presence of fiscal rigidities, they have been found to pose serious fiscal and macroeconomic difficulties to some countries, particularly those in Latin America, since they make governments lose the discretion and flexibility to use fiscal policy to address emerging fiscal and macroeconomic challenges. Yet, fiscal rigidities have not received the needed attention in Africa in terms of research. This paper sheds light on fiscal rigidities and their fiscal and macroeconomic effects […]
January 19, 2017

The Ghanaian Economy in 2012 – How Accurate was the Reported Fiscal Deficit? [Occasional Paper 08]

Occasional Paper 8. The Ghanaian Economy in 2012 – How Accurate was the Reported Fiscal Deficit? This paper reviews the performance of the Ghanaian economy in 2012, with a view to establishing the accuracy and the causes of the reported huge fiscal deficit, amounting to 11.6% of GDP, posted during the period. The study finds that the strong performance of the economy achieved in 2011 continued in 2012, driven by the services and industry sectors, with the latter overtaking agriculture as the second largest contributor to the country’s GDP. Improved macroeconomic policies, supported by a tight monetary policy, also helped […]
January 19, 2017

Revenue Earmarking in Ghana: Management and Performance Issues [Occasional Paper 07]

Occasional Paper 7. Revenue Earmarking in Ghana: Management and Performance Issues Although revenue earmarking was seldom used in Ghana before the Fourth Republic, it has now become a common fiscal practice. Specifically, while only two formal earmarking arrangements existed in the country before the Fourth Republic, there are currently 11 arrangements of revenue earmarking with one more in the pipeline.  Because earmarking currently consumes a large chunk of the country’s fiscal resources, with about 35% of total revenue and grants earmarked in 2013, ensuring effective management of the various earmarked funds is an important component of the country’s quest for […]
June 30, 2016

An Evaluation of the Second Review by the IMF Board of Ghana’s Extended Credit Facility-Supported Program, 2015-17 [Occasional Paper 06]

Occasional Paper 6. An Evaluation of the Second Review by the IMF Board of Ghana’s Extended Credit Facility-Supported Program, 2015-17 This paper evaluates the IMF Board’s second review of Ghana’s ECF-supported program, which spans 2015-17. The review revised key macroeconomic targets that generally vindicate the Institute for Fiscal Studies’ (IFS) earlier view that many of the original targets set under the program were unrealistic, in terms of being overambitious, and needed to be revisited. While most of the revised targets seem more realistic, disappointingly, many—such as growth, inflation, the public debt and current account deficit—indicate that macroeconomic instability will remain […]