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Are fiscal budgets sustainable in South Africa? Evidence from provincial level data

100%
Kavase K., Phiri A.
Business and Economic Horizons
|
2018
|
vol. Volume 14
|
issue Issue 2
415-423
EN
This study uses the nonlinear autoregressive distributive lag (N-ARDL) model to investigate the expenditure-revenue relationship for all nine South African provinces using annual data spanning from 2000 to 2016. Whereas other cointegration models can only depict whether budgets are sustainable or not, the N-ARDL model presents features which further enable us to predict a course of action which individual provincial governments can take towards attaining higher levels of budgetary sustainability in both the short and the long-run. Ultimately, our empirical study demonstrates that the ‘one rule fit all’ strategy as suggested by previous studies may not be an appropriate approach seeing that provincial governments have differing requirements for attaining improved levels of budget sustainability.
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Polish and Swedish Fiscal Policy in the Years 1772-1792. A Short-Run Analysis

63%
Koryś P., Tymiński M.
Ekonomia. Rynek, Gospodarka, Społeczeństwo
|
2013
|
issue 33
79-99
EN
This paper compares Poland and Sweden in the second half of eighteenth century, as two, poorly developed, agrarian countries. Sweden secured its existence, but Poland did not manage to break out of a political dependency and ultimately vanished from the map. We would like to discuss the causes of these different outcomes. Contemporary interpretations underline the role of reasonable fiscal policy. We argue that in this particular case this explanation is insufficient. Contrary to that, our analysis shows that in the context of short term political risks, expansive fiscal policy which led to unpayable debt may be more justifiable than policy of balanced budget.
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