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The copper sector, fiscal rules, and stabilization funds in Chile : scope and limits
Solimano, Andrés; Calderón Guajardo, Diego - 2017
times but no rules for using them at bad times; and (iii) a possible bias to over-accumulation of resources in SWFs without …
Persistent link: https://www.econbiz.de/10011617287
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Extractive industries: transforming states and improving economic management
Addison, Tony; Roe, Alan - 2024
While market mechanisms and private initiatives can deliver much for development, public action is also necessary to: maximize the economic benefits of the extractive industries; manage potentially large capital and revenues flows; minimize adverse environmental and social impacts; and steer the...
Persistent link: https://www.econbiz.de/10014534816
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Public savings in Africa : do sovereign wealth funds serve development?
Addison, Tony; Lebdioui, Amir - 2022
Do sovereign wealth funds (SWFs) contribute to Africa's development? This paper assesses the objectives of SWFs (fiscal stabilization, productive investment, intergenerational saving) and discusses alternatives. We argue that fiscal stabilization funds are often necessary, but entail...
Persistent link: https://www.econbiz.de/10013469624
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Welfare losses, preferences for redistribution, and political participation : evidence from the United Kingdom's age of austerity
Justino, Patricia; Martorano, Bruno; Metzger, Laura - 2023
This paper studies the effect of austerity on forms of political participation-including voting, appealing for reform … exposure to austerity and political participation. The paper focuses on the case of the United Kingdom (UK) where, between 2011 … and 2019, wide-ranging austerity policies were introduced to deal with high public debt in the aftermath of the 2007 …
Persistent link: https://www.econbiz.de/10014261208
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Fiscal policy in times of fiscal stress : or what to do when r > g
Havemann, Roy; Hollander, Hylton - 2022
South Africa runs a primary fiscal deficit and the long-term interest rate on government borrowing, r, is greater than the long-term economic growth rate, g. Without intervention, debt will continue to rise until there is a disorderly fiscal stop. Reforms to raise growth have not materialized,...
Persistent link: https://www.econbiz.de/10013203112
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Oil discovery and macroeconomic management : the recent Ghanaian experience
Bawumia, Mahamudu; Halland, Håvard - 2017
This paper analyses the evolution of fiscal and monetary variables in Ghana, from the discovery of oil in 2007 through to 2014. It documents the deterioration of fiscal and monetary discipline over this period, which resulted in a rebound of debt, a deterioration of the external balance, and a...
Persistent link: https://www.econbiz.de/10011777081
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Government size and risk premium
Kumar, Abhishek; Mallick, Sushanta Kumar - 2024
Given the rise in the government debt level in recent times, this paper aims to examine the effect of an increase in government size on risk premium and its transmission in the economy. We jointly identify the term spread shock (originating at the short end and the long end) and the government...
Persistent link: https://www.econbiz.de/10014525770
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Debt-financed fiscal stimulus in South Africa
Hollander, Hylton - 2021
increasing debt-servicing costs (through a higher risk premium) and rapid debt accumulation may push the country into a sovereign …
Persistent link: https://www.econbiz.de/10012650853
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Do fiscal regimes matter for fiscal sustainability in South Africa? : a Markov-switching approach
Woldu, Gabriel Temesgen - 2020
This paper empirically examines South Africa's fiscal sustainability through a Markovswitching model which utilizes quarterly datasets for the period from 1960 to 2019. The results show that public debt responds positively, demonstrating a sustainable fiscal policy. Furthermore, considering the...
Persistent link: https://www.econbiz.de/10012405631
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Social protection expansions during crisis and fiscal space : from ad hoc to durable solutions?
Oppel, Annalena - 2022
This study provides a first attempt to contribute a large-scale assessment of whether crisis response as observed during the COVID-19 pandemic can serve as a feasible blueprint for creating durable solutions across countries. Adopting a lens on fiscal contracts, it assesses highlevel parameters...
Persistent link: https://www.econbiz.de/10013349390