Both theoretical and operational definitions of current account sustainability show a persistent and fragile current account balance (deficit) for Ghana. This has created a financing gap in the Ghanaian economy, typically filled by capital inflows, in particular aid. Even as Ghana depends to a...

One of the most challenging problems in developing countries such as Ghana is exchange rate management, that is, 'getting the exchange rate right' especially in the context of exchange rate misalignment. The major research and policy question is what constitutes the equilibrium real exchange...