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The Non-Linear Relationship Between Fiscal Deficits And Inflation: Evidence From Africa

100%

Abu N., Karim M. Z. A.

South East European Journal of Economics and Business

2015

vol. 10

issue 2

102-112

Although, there is abundant research on the fiscal deficit-inflation relationship, little has been done to investigate the non-linear association between them, particularly in Africa. This study employs fixed-effects and GMM estimators to examine the non-linear relationship between deficits and inflation from 1999 to 2011 in 51 African economies, which are further grouped into high-inflation/low-income countries and moderate-inflation/middle-income countries. The results indicate that the deficit-inflation relationship is non-linear for the whole sample and sub-groups. For the whole sample, a percentage point increase in deficit results in a 0.25 percentage point increase in inflation rate, while the relationship becomes quantitatively greater once deficits reach 23% of GDP. The subsamples report different relationships. Although our results cannot be used as the base for generalization, we identify importance of grouping African countries according to their levels of inflation and/or income, rather than treating them as a homogeneous entity.

ROLA SYSTEMU PODATKOWEGO PRZED, W TRAKCIE I PO KRYZYSIE FINANSOWYM

58%

Ciżkowicz P., Opala P., Rzońca A.

Ruch Prawniczy, Ekonomiczny i Socjologiczny

2012

vol. 74

issue 1

125-145

The aim of this paper is to sum up the most recent results of a survey carried out to analyse the role which the system of taxation played in subsequent phases of the financial crisis that started in 2008. As can be seen from the obtained data that role has been substantially changing: (1) prior to the crisis the tax incentives that the system made available to business entities gave rise to even greater economic imbalance which later became one of the elements that laid the basis for the crisis; (2) when the crisis started, the stabilisation role of the taxation system prevailed and operated through the working of so called automatic stabilisers as well as through discretionary changes of tax burdens; and (3) currently, the taxation system is being modified to support the process of fiscal consolidation expected to be implemented in the coming years in the economies of developed and some developing countries.

Celem niniejszego artykułu jest podsumowanie najnowszych wyników badań analizujących rolę systemu podatkowego w kolejnych fazach kryzysu zapoczątkowanego w 2008 r. Przeprowadzona w opracowaniu analiza wskazuje, że jego rola ulegała istotnym zmianom: 1) przed wybuchem kryzysu stwarzał bodźce do takich zachowań podmiotów gospodarczych, które przyczyniały się do narastania nierównowagi leżącej u podstaw kryzysu; 2) po jego wybuchu wzrosło znaczenie stabilizacyjne systemu podatkowego: zarówno w obszarze oddziaływania tak zwanych automatycznych stabilizatorów, jak i dyskrecjonalnych zmian obciążeń podatkowych; 3) obecnie zmiany systemu podatkowego zmierzają w kierunku wsparcia procesu konsolidacji fiskalnej oczekiwanej w najbliższych latach w wielu gospodarkach rozwiniętych i w części krajów rozwijających się.

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1 Ruch Prawniczy, Ekonomiczny i Socjologiczny

1 South East European Journal of Economics and Business

1 Abu N.

1 Ciżkowicz P.

1 Karim M. Z. A.

1 Opala P.

1 Rzońca A.

1 2015

1 2012

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The Non-Linear Relationship Between Fiscal Deficits And Inflation: Evidence From Africa

ROLA SYSTEMU PODATKOWEGO PRZED, W TRAKCIE I PO KRYZYSIE FINANSOWYM