Implications of Quasi-Fiscal Activities in Ghana
This paper assesses the scope and coverage of quasi-fiscal activities (QFAs) in Ghana. We find that while QFAs have been reduced recently, they remain significant. The extensive nature of these activities has several macroeconomic and structural policy implications. An extended measure of public sector operations, including QFAs, presents a clearer picture of Ghana's fiscal stance and fiscal adjustment from one for the central government alone; QFAs have led to serious distortions in energy and water consumption; and they have distorted the investment decisions of both public enterprises and the private sector.
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- Lev Freinkman & Gohar Gyulumyan & Artak Kyurumyan, 2003.
"Quasi-Fiscal Activities, Hidden Government Subsidies, and Fiscal Adjustment in Armenia,"
World Bank Publications,
The World Bank, number 15074, June.
- Freinkman, Lev & Gyulumyan, Gohar & Kyurumyan, Artak, 2002. "Quasi-fiscal activities, hidden government subsidies, and fiscal adjustment in Armenia," MPRA Paper 10064, University Library of Munich, Germany.
- Claudia Helene Dziobek & John W. Dalton, 2005. "Central Bank Losses and Experiences in Selected Countries," IMF Working Papers 05/72, International Monetary Fund.
- Peter Stella, 1997. "Do Central Banks Need Capital?," IMF Working Papers 97/83, International Monetary Fund.
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