ECOWAS Fiscal Policy Shifts to Boost Economic Stability and Growth
The study looked at how fiscal policies in ECOWAS countries have changed over time. They found that after certain rules were introduced, countries started using fiscal policies to stabilize their economies better. Before these rules, countries tended to make policies that made economic ups and downs worse. The researchers suggest that countries should have more flexibility in making fiscal policies to balance their budgets over time. They also recommend monitoring compliance with rules using a specific measure called 'discretionary fiscal deficit'.