This paper uses the balance sheet analysis developed by the IMF to present empirical evidence that the well-known undesirable effects of aid surges and volatility have been avoided in Ghana through various combinations of fiscal and monetary policy responses. In fact, evidence suggests that,...

This paper presents empirical evidence that the massive foreign aid inflows into Ghana that accompanied the 1983 reforms had some Dutch disease effects. This finding contrasts with some of the startling findings in the recent literature that aid inflows into Ghana, instead of causing real...

This paper critically examines the theoretical and empirical basis of the increasingly popular claim that massive foreign aid increases to the Sub-Saharan African countries are hurting, instead of helping, them. The three basis of this pessimism are, first, that increase in foreign aid can have...

This paper presents empirical evidence that the massive foreign aid inflows into Ghana that accompanied the 1983 reforms had some Dutch disease effects. This finding contrasts with some of the startling findings in the recent literature that aid inflows into Ghana, instead of causing real...