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dispensation is young, comprehensive empirical works to this effect in the case of Africa are hard to find. This study, therefore … Africa. Second, the study investigates the joint effect of economic development and elections on debt servicing in Africa … periods are associated with lower debt servicing in Africa, and (2) economic development is significant in enhancing debt …
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This paper aims to explain why fiscal multipliers are generally low, even close to zero, in emerging economies (EMEs). Our explanation jointly relies on the behavior of the exchange rate following a fiscal shock and on the proportion of external debt denominated in foreign currency, which is...
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