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Cyclical patterns of government expenditures in Sub-Saharan Africa : facts and factors

Author: Victor Lledo; Irene Yackovlev; Lucie Gadenne; International Monetary Fund. African Department.
Publisher: [Washington, D.C.] : International Monetary Fund, ©2009.
Series: IMF working paper, WP/09/274.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
This paper documents cyclical patterns of government expenditures in sub-Saharan Africa since 1970 and explains variation between countries and over time. Controlling for endogeneity, it finds government expenditures to be slightly more procyclical in sub-Saharan Africa than in other developing countries and some evidence that procyclicality in Africa has declined in recent years after a period of sharp increase  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Lledo, Victor.
Cyclical patterns of government expenditures in Sub-Saharan Africa.
[Washington, D.C.] : International Monetary Fund, ©2009
(OCoLC)503519153
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Victor Lledo; Irene Yackovlev; Lucie Gadenne; International Monetary Fund. African Department.
OCLC Number: 666237579
Notes: At head of title: African Department.
"December 2009."
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011. MiAaHDL
Description: 1 online resource (31 pages) : illustrations.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: IMF working paper, WP/09/274.
Responsibility: prepared by Victor Lledó, Irene Yackovlev and Lucie Gadenne.

Abstract:

This paper documents cyclical patterns of government expenditures in sub-Saharan Africa since 1970 and explains variation between countries and over time. Controlling for endogeneity, it finds government expenditures to be slightly more procyclical in sub-Saharan Africa than in other developing countries and some evidence that procyclicality in Africa has declined in recent years after a period of sharp increase through the 1990s. Greater fiscal space, proxied by lower external debt, and better access to concessional financing, proxied by larger aid flows, seem to be important factors in diminishing procyclicality in the region. The role of institutions is less clear cut: change in political institutions have no impact on procyclicality.

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