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Institutions and pro-cyclicality of fiscal policy in Sub Saharan Africa

Itchoko motande Mondjeli mwa ndjokou ()
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Itchoko motande Mondjeli mwa ndjokou: Departement of Economics, University of Yaoundé II

Economics Bulletin, 2017, vol. 37, issue 2, 1365-1380

Abstract: This paper identifies how institutional variables influence the pro-cyclicality of fiscal policy in Sub Saharan Africa. Prior to that main objective, we evaluate the cyclical nature of fiscal policy and which institutional variable influences the cyclical nature of fiscal policy in Sub Saharan Africa. We rely on the method of generalized moments in system for a sample of 42 countries over the period 1990-2014. From our empirical analysis, we derive the following results. (i) Fiscal policy in Sub Saharan Africa countries is pro-cyclical. (ii) Freedom from corruption accentuates the pro-cyclicality of fiscal policy in Sub Saharan Africa countries. (iii) Democracy reduces the pro-cyclicality of fiscal policy in Sub Saharan Africa.

Keywords: Fiscal policy; Economic institutions; Political institutions; GMM (search for similar items in EconPapers)
JEL-codes: E6 (search for similar items in EconPapers)
Date: 2017-06-16
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