Replication Package for Fuel Price Stabilization, Sovereign Debt, and the Capitalization Paradox: Evidence from Ghana

This repository contains the datasets, calibration files, Python scripts, simulation outputs, figures, and tables used in the paper:

"Fuel Price Stabilization, Sovereign Debt, and the Capitalization Paradox: Evidence from Ghana."

The replication package enables full reproduction of the empirical calibration, oil-price persistence estimation, simulation exercises, policy scenario comparisons, and figures reported in the manuscript.

The study develops a Ghana-calibrated macro-fiscal energy model to evaluate alternative fuel-price stabilization strategies under persistent international oil-price shocks. The analysis compares pure market pass-through, debt-financed stabilization, and fund-financed stabilization regimes, with particular emphasis on the long-run fiscal consequences of alternative stabilization fund designs.

Contents of the repository include:

• Processed datasets used in calibration and simulation
• Python scripts for model calibration and scenario analysis
• Figure-generation and table-generation scripts
• Final manuscript figures and tables
• Documentation and replication instructions

Original data sources include the U.S. Energy Information Administration (EIA), National Petroleum Authority (NPA), Ghana Energy Commission, Ministry of Finance, Bank of Ghana, and the World Bank.

This repository is provided to support transparency, reproducibility, and future research on energy policy, fuel-price stabilization, and macro-fiscal management in energy-importing economies.