Historically, fiscal policy in Sub-Saharan Africa (SSA) has been procyclical. Governments have raised taxes and cut spending in bad times and have expanded the size of the government in good times. Procyclical access to external borrowing and political economy distortions (e.g., common pool problems and asymmetric information) have been mentioned as culprit. The ma...

Historically, fiscal policy in Sub-Saharan Africa (SSA) has been procyclical. Governments have raised taxes and cut spending in bad times and have expanded the size of the government in good times. Procyclical access to external borrowing and political economy distortions (e.g., common pool problems and asymmetric information) have been mentioned as culprit. The ma...