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Fiscal policy in low-income Africa

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  • O'Connell, Steven

Abstract

This paper reviews the literature and country experience on the macroeconomics of fiscal policy in low income Africa. Given the experience of the 70's and 80's, the ultimate focus of the discussion must be the interaction of fiscal policy with the challenges of stabilization and structural adjustment. Two dominant themes emerge for fiscal policy. The first is the importance of overall fiscal restraint as a precondition for success of stabilization and structural adjustment efforts. The second is the importance of improved public sector performance in delivering infrastructural services.

Suggested Citation

  • O'Connell, Steven, 1988. "Fiscal policy in low-income Africa," Policy Research Working Paper Series 39, The World Bank.
    • Handle: RePEc:wbk:wbrwps:39
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    References listed on IDEAS

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    1. Dornbusch, Rudiger, 1982. "Consumption opportunities and the real value of the external debt," Journal of Development Economics, Elsevier, vol. 10(1), pages 93-101, February.
    2. Rudiger Dornbusch & Stanley Fischer, 1986. "Stopping hyperinflations past and present," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 122(1), pages 1-47, March.
    3. Lal, Deepak, 1987. "The Political Economy of Economic Liberalization," The World Bank Economic Review, World Bank, vol. 1(2), pages 273-299, January.
    4. Tanzi, Vito, 1982. "Fiscal disequilibrium in developing countries," World Development, Elsevier, vol. 10(12), pages 1069-1082, December.
    5. Wheeler, David, 1984. "Sources of stagnation in sub-Saharan Africa," World Development, Elsevier, vol. 12(1), pages 1-23, January.
    6. Devarajan, Shantayanan & de Melo, Jaime, 1987. "Evaluating participation in African monetary unions: A statistical analysis of the CFA Zones," World Development, Elsevier, vol. 15(4), pages 483-496, April.
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    Cited by:

    1. Catsambas, Thanos & Pigato, Miria, 1989. "The consistency of government deficits with macroeconomic adjustment : an application to Kenya and Ghana," Policy Research Working Paper Series 287, The World Bank.

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