- Tetsuya Konuki, and Mauricio Villafuerte
- Published Date:
- August 2016
The African Department
Cyclical Behavior of Fiscal Policy among Sub-Saharan African Countries
Tetsuya Konuki and Mauricio Villafuerte
Copyright © 2016
International Monetary Fund
Cataloging-in-Publication Data Joint Bank-Fund Library
Names: Konuki, Tetsuya. | Villafuerte, Mauricio. | International Monetary Fund. | International Monetary Fund. African Department.
Title: Cyclical behavior of fiscal policy among Sub-Saharan African countries / Tetsuya Konuki and Mauricio Villafuerte.
Description: Washington, D.C.: International Monetary Fund, 2016. | At head of title: The African Department. | Includes bibliographical references.
Identifiers: ISBN 978-1-51356-354-1 (paper)
Subjects: LCSH: Fiscal policy— Africa, Sub-Saharan. | Business cycles— Africa, Sub-Saharan.
Classification: LCC HJ192.5.K65 2016
The African Department Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper are those of the author(s) and do not necessarily represent the views of the IMF Executive Board.
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Table 7. Cross-country GMM to Identify Determinants of Degree of Procyclicality (Dependent Variable: Degree of Fiscal Cyclicality Measured As The Sensitivity of Cyclically Adjusted Primary Balance to Output Gap)
The authors gratefully acknowledge helpful comments by Guillermo Vuletin and seminar participants at the International Monetary Fund, and excellent research assistant work by Marwa Ibrahim and Yanmin Ye.