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Weeks, John (2010) The Freetown Declaration: Countercyclical Policy for Africa. Amherst: Political Economy Research Institute, University of Massachusetts at Amherst, Working Paper no. 237.

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Abstract

In August 2009 the African finance ministers issued the Freetown Declaration, in which they committed their governments to “implement fiscal stimulus measures” to counter the effects of the international financial crisis on their economies. This paper analyzes the feasibility of realizing this commitment. It considers the availability of policy instruments in the sub-Saharan countries for countercyclical intervention. On the basis of this, the paper proposes a fiscal stimulus tailored to the conditions and constrains of the countries of the region. In a majority of the countries the fiscal expansion could be financed domestically, in other countries governments would require additional external funding, and only for a few countries would a stimulus not be appropriate. >> Watch an interview with John Weeks on the economic basis ofsocial democracy

Item Type: Monographs and Working Papers (Working Paper)
SOAS Departments & Centres: Departments and Subunits > Department of Economics
Date Deposited: 08 Apr 2021 10:15
URI: https://eprints.soas.ac.uk/id/eprint/34981
Related URLs: https://ideas.r ... riwp/wp237.html

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