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Cyclical Patterns of Government Expenditures in Sub-Saharan Africa

Facts and Factors

Cyclical Patterns of Government Expenditures in Sub-Saharan Africa by Irene Yackovlev
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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: changes in political institutions have no impact on procyclicality.
International Monetary Fund; December 2009
31 pages; ISBN 9781452769226
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Title: Cyclical Patterns of Government Expenditures in Sub-Saharan Africa
Author: Irene Yackovlev; Victor Duarte Lledo; Lucie Gadenne
 
ISBNs
1452769222
9781451874198
9781451918359
9781452769226