Cyclical fiscal policy in Africa

Carmignani, Fabrizio (2010) Cyclical fiscal policy in Africa. Journal of Policy Modeling, 32 2: 254-267. doi:10.1016/j.jpolmod.2010.01.002

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Author Carmignani, Fabrizio
Title Cyclical fiscal policy in Africa
Journal name Journal of Policy Modeling   Check publisher's open access policy
ISSN 0161-8938
1873-8060
Publication date 2010-03-01
Sub-type Article (original research)
DOI 10.1016/j.jpolmod.2010.01.002
Volume 32
Issue 2
Start page 254
End page 267
Total pages 14
Editor Dominick Salvatore
Antonio Maria Costa
Place of publication New York, NY, U.S.A.
Publisher North-Holland
Collection year 2011
Language eng
Formatted abstract
This paper studies the role of fiscal policy for stabilization in African countries. Two empirical regularities are documented for the group of African economies. First, fiscal policy generally has Keynesian effects. Second, fiscal policy instruments are often pro-cyclical (and practically never counter-cyclical). Taken together these two empirical regularities indicate a major policy failure as they imply that fiscal policy is a cause of volatility and not a tool for stabilization. The paper then discusses policy options to make fiscal policy more conducive to stabilization.
© 2010 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
Keyword Business cycles
Fiscal policy
Output growth volatility
Stabilization
Developing-countries
Macroeconomic stability
Government size
Volatility
Growth
Consumption
Welfare
Rules
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2011 Collection
School of Economics Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 6 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 9 times in Scopus Article | Citations
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Created: Sun, 06 Jun 2010, 10:03:38 EST