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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Fiscal and monetary determinants of inflation in low-income countries: theory and evidence from Sub-Saharan Africa
Authors:Baldini, AlfredoISNI
Poplawski-Ribeiro, MarcosISNI
Year:2011
Periodical:Journal of African Economies (ISSN 0963-8024)
Volume:20
Issue:3
Pages:419-462
Language:English
Geographic term:Subsaharan Africa
Subjects:fiscal policy
monetary policy
inflation
External link:https://jae.oxfordjournals.org/content/20/3/419.full.pdf
Abstract:This paper presents a model of fiscal dominance with borrowing constraints and provides new evidence for a large number of Sub-Saharan African (SSA) countries on the relative importance of fiscal and monetary determinants of inflation. Based on different empirical tests, results show that half of the twenty-two SSA countries were characterized in the period 1980-2005 by lack of clear anti-inflationary monetary and fiscal policies. The other half of the sample was characterized by either a fiscal-dominant regime, with weak or no response of primary surpluses to public debt, or by consistent adoption of a monetary-dominant regime. Bibliogr., notes, ref, sum. [Journal abstract]
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