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- Title
ON THE CYCLICALITY OF SOUTH AFRICAN FISCAL POLICY.
- Authors
Thornton, John
- Abstract
This paper examines the cyclicality of government revenue, spending and the key fiscal balances in South Africa during 1972-2001. The results suggest that while government revenues were largely acyclical, government spending appears to have been predominantly counter-cyclical, in line with the recommendations of neoclassical analysis. In addition, countercyclical government spending appears to have translated into a countercyclical policy stance overall. This finding contrasts markedly with the results from other empirical studies of South Africa and other emerging market and developing economies, which typically indicate procyclical fiscal policy.
- Subjects
SOUTH Africa; FISCAL policy; GOVERNMENT spending policy; PUBLIC finance; EMERGING markets; DEVELOPING countries
- Publication
South African Journal of Economics, 2007, Vol 75, Issue 2, p258
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/j.1813-6982.2007.00114.x