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Autor
Zakaria Muhammad (Shanghai University of Finance and Economics (SHUFE), P.R. China, COMSATS Institute of Information Technology (CIIT), Islamabad, Pakistan), Junyang Xi (Shanghai University of Finance and Economics (SHUFE), P.R. China)
Tytuł
The Cyclicality of Fiscal Policy in South Asia
Źródło
Argumenta Oeconomica, 2015, nr 1 (34), s. 33-60, rys., tab., bibliogr. 39 poz.
Słowa kluczowe
Polityka fiskalna
Fiscal policy
Uwagi
summ.
Abstrakt
The paper empirically analyses the role of macroeconomic, political and institutional variables in determining cyclical patterns of government revenues, expenditures and fiscal balance in South Asian Countries (SACs). Panel regression analysis is conducted for the period 1980 to 2013. The findings support existing literature about developing countries demonstrating that fiscal policies are strongly procyclical in SACs and there is significant evidence of persistence. Revenues have decreased and expenditures have increased with output cycle which has deteriorated the fiscal balance. This indicates that fiscal balance is procyclical with output cycle in SACs and this procyclicality increases during good times. The results suggest that SACs can conduct counter cyclical fiscal policies if they stabilize output, control inflation and structural shocks, have deep financial markets, high financial openness, have few veto players in the political procedures and have stronger institutions. These results are robust to alternative measures of output cycle and model specifications.(original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Bibliografia
Pokaż
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Cytowane przez
Pokaż
ISSN
1233-5835
Język
eng
URI / DOI
http://dx.doi.org/10.15611/aoe.2015.1.01
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