Determinants of fiscal effort in sub-Saharan African countries: Does conflict matter?

Abbas, S. A., Belhocine, N., El-Ganainy, A., & Horton, M. (2010). A historical public debt database. (Working Paper No. WP/10/245, International Monetary Fund).10.2139/ssrn.1750734 Search in Google Scholar

Adams, C., Ferrarini, B., & Park, D. (2010). Fiscal sustainability in developing Asia. (Economics Working Paper Series No. 205). Asian Development Bank.10.2139/ssrn.1640264 Search in Google Scholar

Adedeji, O. S., & Williams, O. (2007). Fiscal reaction functions in the CFA zone: An analytical perspective (Working Paper No. WP/07/232). International Monetary Fund. Search in Google Scholar

Alesina, A, & Passalacqua, A. (2016). The political economy of government debt. In J. B. Taylor & H. Uhlig (Eds.), Handbook of macroeconomics (vol. 2B, pp. 2599-2651). Amsterdam: Elsevier. Search in Google Scholar

Alesina, A, & Perotti, R. (1995). The political economy of budget deficits. Staff Papers (International Monetary Fund), 42(1), 1-31.10.2307/3867338 Search in Google Scholar

Baldi, G., & Staehr, K. (2016). The European debt crisis and fiscal reactions in Europe 2000–2014. International Economics and Economic Policy, 13(2), 297-317.10.1007/s10368-014-0309-4 Search in Google Scholar

Barrett, P. (2018). The fiscal cost of conflict: Evidence from Afghanistan 2005-2016. (Working Paper No. WP/18/204). International Monetary Fund.10.5089/9781484374931.001 Search in Google Scholar

Barro, R. J. (1979). On the determination of public debt. Journal of Political Economy, 87(5), 940-971.10.1086/260807 Search in Google Scholar

Berti, K., Colesnic, E., Desponts, C., & Pamies, S. (2016). Fiscal reaction functions for European Union countries. (Discussion Papers No. 028). European Economy. Search in Google Scholar

Bohn, H. (1995). The sustainability of budget deficits in a stochastic economy. Journal of Money, Credit and Banking, 27(1), 257-271.10.2307/2077862 Search in Google Scholar

Bohn, H. (1998). The behaviour of U.S. public debt and deficits. The Quarterly Journal of Economics, 113(3), 949-963. Search in Google Scholar

Bond, S. R. (2002). Dynamic panel data models: A guide to micro data methods and practice. Portuguese Economic Journal, 1, 141-162.10.1007/s10258-002-0009-9 Search in Google Scholar

Burger, P., Stuart, I., Jooste, C., & Cuevas, A. (2012). Fiscal sustainability and the fiscal reaction function for South Africa: Assessment of the past and future policy applications. South African Journal of Economics, 80(2), 209-227.10.1111/j.1813-6982.2012.01321.x Search in Google Scholar

Chalk, N., & Hemming, R. (2000). Assessing fiscal sustainability in theory and practice. (Working Paper No. WP/00/81). International Monetary Fund. Search in Google Scholar

Checherita-Westphal, C., & Žďárek, V. (2017). Fiscal reaction function and fiscal fatigue: Evidence for the euro area. (ECB Working Paper, 2036). European Central Bank. Search in Google Scholar

Chowdhury, A. R., & Murshed, S. M. (2016). Conflict and fiscal capacity. Defence and Peace Economics, 27(5), 583-608.10.1080/10242694.2014.948700 Search in Google Scholar

Chudik, A., & Pesaran, M. H. (2015). Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors. Journal of Econometrics, 188(2), 393-420.10.1016/j.jeconom.2015.03.007 Search in Google Scholar

D’Erasmo, P., Mendoza, E. G., & Zhang, J. (2015). What is a sustainable public debt. (Working Paper No. No. 21574). Retrieved from http://www.nber.org/papers/w2157410.3386/w21574 Search in Google Scholar

Dunne, J. P., Nikolaidou, E., & Chiminya, A. (2018). Military spending, conflict and external debt in sub-Saharan Africa. Defence and Peace Economics, 40(4), 462-473.10.1080/10242694.2018.1556996 Search in Google Scholar

Eberhardt, M., & Presbitero, A. F. (2015). Public debt and growth: heterogeneity and non-linearity. Journal of International Economics, 97(1), 45-58.10.1016/j.jinteco.2015.04.005 Search in Google Scholar

Égert, B. (2012). Fiscal policy reaction to the cycle in the OECD: Pro-or counter-cyclical?. (CESifo Working Paper No. 3777). Center for Economic Studies. Search in Google Scholar

European Commission. (2011, September). Public Finances in EMU. European Economy, 3. Search in Google Scholar

Everaert, G., & Jansen, S. (2018). On the estimation of panel fiscal reaction functions: Heterogeneity or fiscal fatigue?. Economic Modelling, 70, 87-96.10.1016/j.econmod.2017.10.014 Search in Google Scholar

Fang, S. K., Kothari, C. M., McLoughlin, C., & Yenice, M. (2020). The economic consequences of the conflict in sub-Saharan Africa. (Working Paper No. WP/20/221). International Monetary Fund.10.5089/9781513559667.001 Search in Google Scholar

Fedelina, A., & Kudina, A. (2003). Fiscal sustainability in African HIPC countries: A policy dilemma?. (Working Paper No. WP/03/187). International Monetary Fund.10.5089/9781451859539.001 Search in Google Scholar

Ghosh, A. R., Kim, J. I., Mendoza, E. G., Ostry, J. D., & Qureshi, M. S. (2013). Fiscal fatigue, fiscal space and debt sustainability in advanced economies. The Economic Journal, 123, 4-30.10.1111/ecoj.12010 Search in Google Scholar

Ghosh, A. R., Ostry, J. D., & Qureshi, M. S. (2013). Fiscal space and sovereign risk pricing in a currency union. Journal of International Money and Finance, 34, 131-163.10.1016/j.jimonfin.2012.11.008 Search in Google Scholar

Hayashi, F. (2000). Econometrics. Princeton: Princeton University Press. Search in Google Scholar

IMF. (2015). Public debt vulnerabilities in low-income countries: The evolving landscape. Washington DC: International Monetary Fund. Search in Google Scholar

IMF. (2017). Regional economic outlook. Sub-Saharan Africa: Fiscal adjustment and economic diversification. Washington DC: International Monetary Fund. Search in Google Scholar

IMF. (2019). Regional economic outlook. Sub-Saharan Africa: Navigating uncertainty. Washington DC: International Monetary Fund. Search in Google Scholar

Judson, R. A., & Owen, A. L. (1999). Estimating dynamic panel data models: A guide for macroeconomists. Economic Letters, 65, 9-15.10.1016/S0165-1765(99)00130-5 Search in Google Scholar

Kremers, J. J. M. (1989). U.S. Federal indebtedness and the conduct of fiscal policy. Journal of Monetary Economics, 23(2), 219-238.10.1016/0304-3932(89)90049-4 Search in Google Scholar

Lledó, V., & Poplawski-Ribeiro, M. (2011). Fiscal policy implementation in sub-Saharan Africa. (Working Paper No. WP/11/172). International Monetary Fund.10.5089/9781462314317.001 Search in Google Scholar

Medeiros, J. (2012). Stochastic debt simulation using VAR models and a panel fiscal reaction function: Results for a selected number of countries. (Economic Papers No. 459). European Economy. Search in Google Scholar

Mendoza, E. G., & Ostry, J. D. (2008). International evidence on fiscal solvency: Is fiscal policy responsible?. Journal of Monetary Economics, 55, 1081-1093.10.1016/j.jmoneco.2008.06.003 Search in Google Scholar

Mupunga, N., & Ngundu, T. (2020). Escalating public debt levels and fiscal responses in sub-Saharan African countries. (Research Paper No. 385). Nairobi: African Economic Research Consortium. Search in Google Scholar

Ncube, M., & Brixiová, Z. (2015). Public debt sustainability in Africa: Building resilience and challenges ahead. Development Policy Review, 33(5), 555-580.10.1111/dpr.12126 Search in Google Scholar

Ndikumana, L. (2001). Fiscal policy, conflict, and reconstruction in Burundi and Rwanda. (Discussion Paper No. 2001/62). United Nations University World Institute for Development Economics Research. Search in Google Scholar

Nickell, S. (1981). Biases in dynamic models with fixed effects. Econometrica, 49(6), 1417-1426.10.2307/1911408 Search in Google Scholar

Ogiji, P., & Ajayi, K. J. (2020). Estimating a fiscal reaction function for Nigeria. CBN Journal of Applied Statistics, 11(1), 35-63.10.33429/Cjas.11120.2/5 Search in Google Scholar

Plodt, M., & Reicher, C. (2014). Estimating simple fiscal policy reaction functions for the euro area countries. (Working Paper No. 1899). Kiel Institute of the World Economy. Search in Google Scholar

Trehan, B., & Walsh, C. E. (1988). Common trends, the government’s budget constraint, and revenue smoothing. Journal of Economic Dynamics and Control, 12(2-3), 425-444.10.1016/0165-1889(88)90048-6 Search in Google Scholar

Trehan, B., & Walsh, C. E. (1991). Testing intertemporal budget constraints: Theory and applications to the U.S. federal budget and current account deficits. Journal of Money, Credit and Banking, 23(2), 206-223.10.2307/1992777 Search in Google Scholar

Woo, J. (2003). Economic, political, and institutional determinants of public deficits. Journal of Public Economics, 87, 387-426.10.1016/S0047-2727(01)00143-8 Search in Google Scholar

World Bank. (2017, April). World Bank Africa’s pulse. Washington DC: World Bank. Search in Google Scholar