The Cyclicality of Fiscal Policies in the CEMAC Region:
This paper examines fiscal cyclicality in the CEMAC region during 1980-2008. The issue has attracted very little empirical interest but is important if fiscal policies are to play a role in mitigating external shocks that exacerbate economic cycles across the region. We assess whether fiscal policie...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2011
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 11/205 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | This paper examines fiscal cyclicality in the CEMAC region during 1980-2008. The issue has attracted very little empirical interest but is important if fiscal policies are to play a role in mitigating external shocks that exacerbate economic cycles across the region. We assess whether fiscal policies across these six countries have been procyclical using panel data to elaborate our analysis. Like in other sub-Saharan countries, total public expenditure in the CEMAC is found to be strongly procyclical. This is most pronounced for public investment, which overreacts to output growth with elasticity above 1. We further find that institutional weaknesses and poor governance partly explain this behavior. In contrast, the existence of an IMF-supported program can be a counterbalancing influence in attenuating this bias |
| Beschreibung: | 1 Online-Ressource (21 p) |
| ISBN: | 1463902166 9781463902162 |
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| index_date | 2024-07-03T20:13:36Z |
| indexdate | 2024-07-10T09:35:47Z |
| institution | BVB |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Mpatswe, Gaston K. Verfasser aut The Cyclicality of Fiscal Policies in the CEMAC Region Mpatswe, Gaston K Washington, D.C International Monetary Fund 2011 1 Online-Ressource (21 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 11/205 This paper examines fiscal cyclicality in the CEMAC region during 1980-2008. The issue has attracted very little empirical interest but is important if fiscal policies are to play a role in mitigating external shocks that exacerbate economic cycles across the region. We assess whether fiscal policies across these six countries have been procyclical using panel data to elaborate our analysis. Like in other sub-Saharan countries, total public expenditure in the CEMAC is found to be strongly procyclical. This is most pronounced for public investment, which overreacts to output growth with elasticity above 1. We further find that institutional weaknesses and poor governance partly explain this behavior. In contrast, the existence of an IMF-supported program can be a counterbalancing influence in attenuating this bias Online-Ausg Tapsoba, Sampawende J.-A. Sonstige oth York, Robert C. Sonstige oth http://elibrary.imf.org/view/IMF001/12142-9781463902162/12142-9781463902162/12142-9781463902162.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Mpatswe, Gaston K. The Cyclicality of Fiscal Policies in the CEMAC Region |
| title | The Cyclicality of Fiscal Policies in the CEMAC Region |
| title_auth | The Cyclicality of Fiscal Policies in the CEMAC Region |
| title_exact_search | The Cyclicality of Fiscal Policies in the CEMAC Region |
| title_exact_search_txtP | The Cyclicality of Fiscal Policies in the CEMAC Region |
| title_full | The Cyclicality of Fiscal Policies in the CEMAC Region Mpatswe, Gaston K |
| title_fullStr | The Cyclicality of Fiscal Policies in the CEMAC Region Mpatswe, Gaston K |
| title_full_unstemmed | The Cyclicality of Fiscal Policies in the CEMAC Region Mpatswe, Gaston K |
| title_short | The Cyclicality of Fiscal Policies in the CEMAC Region |
| title_sort | the cyclicality of fiscal policies in the cemac region |
| url | http://elibrary.imf.org/view/IMF001/12142-9781463902162/12142-9781463902162/12142-9781463902162.xml |
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