Debt-financed fiscal stimulus in South Africa

Hylton Hollander

No wp-2021-152, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Debt-financed fiscal stimulus programmes directly stimulate aggregate demand through government expenditure or tax cuts, but their effectiveness is highly dependent on direct crowding out of private sector expenditure, spillover effects to the private sector through a higher risk premium on interest rates, and the interaction between fiscal policy and monetary policy.

Keywords: Public debt; Interest rate; Fiscal sustainability; Fiscal policy; Monetary policy (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-afr, nep-cwa and nep-mac
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Citations: View citations in EconPapers (4)

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Journal Article: Debt-financed fiscal stimulus in South Africa (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2021-152

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