Fiscal Health and Developmental Outcomes in Brics Nations: New Answers to Old Questions

Olusegun Gabriel Oduyemi (), Kunle Bankole Osinusi () and Ibrahim Ayoade Adekunle ()
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Olusegun Gabriel Oduyemi: Tai Solarin University of Education
Kunle Bankole Osinusi: Tai Solarin University of Education
Ibrahim Ayoade Adekunle: Olabisi Onabanjo University

Acta Universitatis Danubius. OEconomica, 2019, issue 15(1), 30-52

Abstract: Insufficient and inefficient use of state resources amidst growing state budgetary expenditure has ensured that developmental outcomes in BRICS nations are kept at bay. Despite the one-time tremendous growth of the BRICS nations, stakeholders, policy makers, financial institutions and the society at large are concerned about the disruption in what has been an upward trend in growth and development activities of the BRICS nations. This paper examined the structural relationship between fiscal health and developmental outcomes of BRICS nations with the aim of coming up with the evidence-based prediction of development outcomes of BRICS nations as induced by fiscal irregularities. Findings reveal that debt to GDP ratio, government revenue, the ratio of cost of debt service to revenue, and welfare standard of the populace induces developmental outcomes in BRICS nations in the short-run. Based on the findings, we recommend concerted and prudent fiscal actions should be undertaken to ensure fiscal balance needed to guarantee sustained developmental outcomes in the BRICS nations.

Keywords: Fiscal Health; Development Outcomes; Dynamic Ordinary Least Square; BRICS (search for similar items in EconPapers)
Date: 2019
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