Liberalization and implicit government finances in Sierra Leone

Victor A. B. Davies

Working Papers from African Economic Research Consortium

Abstract: This research provides empirical evidence on the consequences of stabilization and financial liberalization in Sierra Leone for implicit seigniorage and financial repression revenues and exchange rate over-valuation subsidy. The paper provides a political explanation for their sub optimal combination prior to adjustment and shows that the adjustment measures have reduced all implicit finances and the scope for using them for political objectives. External financing has largely replaced domestic financing of the reduced budget deficits.

Date: 2020-04-27
Note: African Economic Research Consortium
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