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The consistency of government deficits with macroeconomic adjustment : an application to Kenya and Ghana (anglais)

Sustainable medium-term debt strategies are essential to adjustment programs committed to high growth and should be integrated into a consistent macroeconomic framework that encompasses debt, growth and strategies. This paper develops an analytical model that takes 2 steps. Its purpose is to analyze the relationship between the fiscal deficit, the real interest rate, the real growth rate and the real exchange rate - and to indicate what conditions...
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