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Record Nr. |
UNINA9910463675803321 |
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Autore |
Lledo Victor |
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Titolo |
Cyclical patterns of government expenditures in Sub-Saharan Africa [[electronic resource] ] : facts and factors / / Victor LledoĢ, Irene Yackovlev and Lucie Gadenne |
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Pubbl/distr/stampa |
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[Washington, D.C.], : International Monetary Fund, African Department, c2009 |
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ISBN |
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1-4623-3658-2 |
1-282-84461-X |
1-4518-7419-7 |
1-4527-6922-2 |
9786612844614 |
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Descrizione fisica |
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1 online resource (53 p.) |
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Collana |
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IMF working paper ; ; WP/09/274 |
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Altri autori (Persone) |
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YackovlevIrene |
GadenneLucie |
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Soggetti |
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Fiscal policy - Africa, Sub-Saharan |
Finance, Public - Africa, Sub-Saharan |
Electronic books. |
Africa, Sub-Saharan Economic policy |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Evolution of the fiscal balance in sub-Saharan Africa, current and past cycles; 1. Number of sub-Saharan African countries satisfying various macroeconomic performance and institutional quality criterial by decade; II. Literature Review; III. Empirical Strategy; A. Empirical Model and Identification; B. Data, Measurement, and Specification; IV. Results; A. Key Facts; 2. Cyclical properties of government spending, 1970-2008; 3. Robustness checks, system-GMM estimates and additional controls |
4. Cyclical properties of government spending by decade B. Factors; 5. Political factors, impact on procyclicality, 1970-2008; 6. Financing constraints, impact on procyclicality, 1970-2008; 7. Macroeconomic stability and fiscal space, impact on procyclicality, 1970-2008; 8. How |
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can we explain the evolution of procyclicality over time in sub-Saharan Africa?; V. Conclusions and Policy Implications; Appendix; References; Footnotes |
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Sommario/riassunto |
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This paper documents cyclical patterns of government expenditures in sub-Saharan Africa since 1970 and explains variation between countries and over time. Controlling for endogeneity, it finds government expenditures to be slightly more procyclical in sub-Saharan Africa than in other developing countries and some evidence that procyclicality in Africa has declined in recent years after a period of sharp increase through the 1990's. Greater fiscal space, proxied by lower external debt, and better access to concessional financing, proxied by larger aid flows, seem to be important factors |
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