Selected-Macro

Using a synthetic control, Nigeria’s 2015 foreign-exchange restrictions are estimated to have lowered GDP per capita and raised inflation, while only partly curbing the targeted imports.

Whether debt-financed infrastructure supports debt sustainability depends on the business cycle and fiscal rules — leverage pays off only under the right conditions.

Across 24 OECD countries, monetary policy and financial development do help deliver a low-carbon economy, but through distinct mechanisms rather than one channel.

In the MIST economies, primary balances respond to rising debt-to-GDP ratios, evidence that fiscal policy leans toward keeping debt sustainable.