Abstract:As a post-conflict and fragile state, Sierra Leone has witnessed increased liberalization and greater openness since the end of the civil unrest in 2002. This high degree of openness appears to be negatively affecting the country’s balance of payments, with a substantial amount of foreign exchange earnings being spent annually the importation of essential commodities. Theoretically, openness may significantly contribute to weakening the effect of monetary policy on both output growth and exchange rate, but str… Show more
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