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Periodical article | Leiden University catalogue | WorldCat |
Title: | A tale of cyclicality, aid flows and debt: government spending in sub-Saharan Africa |
Authors: | Lledó, Victor D. Yackovlev, Irene Gadenne, Lucie |
Year: | 2011 |
Periodical: | Journal of African Economies (ISSN 0963-8024) |
Volume: | 20 |
Issue: | 5 |
Pages: | 823-849 |
Language: | English |
Geographic term: | Subsaharan Africa |
Subjects: | public expenditure fiscal policy business cycles |
External link: | https://jae.oxfordjournals.org/content/20/5/823.full.pdf |
Abstract: | 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 and applying dynamic generalized method of moment (GMM) techniques, it finds that government expenditures are 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 high procyclicality during the 1980s and 1990s. The paper finds suggestive evidence that greater fiscal space, proxied by lower external debt, and better access to concessional financing, proxied by larger aid flows, contributed to diminishing procyclicality in the region. It does not find, however, any evidence that political institutions affect fiscal procyclicality in Sub-Saharan Africa. App., bibliogr., notes, ref, sum. [Journal abstract] |