پیوندهای مفید
اخبار و اعلانات
آمار
| تعداد نشریات | 161 |
| تعداد شمارهها | 6,573 |
| تعداد مقالات | 71,033 |
| تعداد مشاهده مقاله | 125,502,857 |
| تعداد دریافت فایل اصل مقاله | 98,767,001 |
Empirical Analysis of Fiscal Policy in sub-Saharan Africa: Is There a Pro-Poor Effect | ||
| Iranian Economic Review | ||
| مقاله 2، دوره 28، شماره 4، اسفند 2024، صفحه 1117-1146 اصل مقاله (942.19 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22059/ier.2024.348318.1007531 | ||
| نویسندگان | ||
| Olumide Olusegun Olaoye* 1؛ James Aransiola Ishola2؛ Olatunde Julius Omokanmi1؛ Rotimi Ogunjumo3؛ Samuel Oluwapelumi Olofinlade4؛ Mathew Ojeleke Ojelade2؛ Stephen Adesina Ibitowa3 | ||
| 1Department of Economics, Thomas Adewunmi University, Oko, Nigeria. | ||
| 2Department of Business Administration, Thomas Adewunmi University, Oko, Nigeria. | ||
| 3Department of Economics, Landmark University, Omu-Aran, Nigeria. | ||
| 4Department of Accounting and Finance, Thomas Adewunmi University, Oko, Nigeria. | ||
| چکیده | ||
| The study examined the effect of fiscal policy on poverty in a panel of 40 sub-Saharan African countries (SSA) using both the fixed effect (within) IV regression model and a spatial-consistent model to control for the potential spillover effect of poverty. The empirical results show that government spending (captured by public debts, government spending on health and education) is not pro-poor, particularly in SSA’s oil-exporting countries. The results may not be unconnected with the high level of corruption in the region. The study also found that government spending (proxied by spending on health and education) does not translate to a reduction in the level of poverty. The results indicate that for sub-Saharan African governments should develop human capital by devoting more economic resources to the health and education sectors to meet the 26% (percentage of total budget) as recommended by UNESCO; and increase the allocation to health sector to 15% (percentage of total budget) as recommended by WHO. | ||
| کلیدواژهها | ||
| Corruption؛ Cross-Sectional and Spatial Dependence؛ Fiscal Policy؛ Poverty؛ Pro-poor Economic Growth. | ||
| مراجع | ||
|
Acemoglu, D., & Johnson, S. (2005). Unbundling Institutions. Journal of Political Economy, 113, 949-995.
Addison, T., Roe, A., & Smith, M. (2006). Fiscal Policy for Poverty Reduction, Reconstruction, and Growth (5). Retrieved from htpps://www.wider.unu.edu
Afonso, A., & Jalles, J. T. (2011). Economic performance and Government Size. ECB WP Series, Retrieved from 1399.https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1399.pdf?66dfde6960bf90d04469b07de906d88
Aghion, P., & Bolton, P. (1997). A Theory of Trickle-Down Growth and Development. The Review of Economic Studies, 64(2), 155-172.
Akram, N. (2016). Public Debt and Pro-Poor Economic Growth Evidence from South Asian Countries. Economic Research-Ekonomska Istraživanja, 29(1), 746-757.
Arellano, M. (1987). Computing Robust Standard Errors for Within-Groups Estimators. Oxford Bulletin of Economics and Statistics, 49, 431-434.
Arellano, M., & Bover, O. (1995). Another Look at the Instrumental Variables’ Estimation of Error Component Models. Journal of Econometrics, 68(1), 29-52.
Barro, R. (1990). Government Spending in Simple Model of Endogenous Growth. Journal of Political Economy, 98(5), 103-126.
Barro, R., & Sala-i-Martin, X. (1992). Public Finance in Models of Economic Growth. Review of Economic Studies, 59, 645-661.
Baum, C. F., Schaffer M. E., & Stillman S. (2007). ivreg2: Stata Module for Extended Instrumental Variables/2SLS, GMM and AC/HAC, LIML, and k-class Regression. Retrieved from https://cir.nii.ac.jp/crid/1572543026118985600
Bernardi, L. (2013). Recent Findings Regarding the Shift from Direct to Indirect Taxation in the EA-17. MPRA Paper, 47877, 1-23.
Blundell, R., & Bond, S. (1998). Initial Conditions and Moment Restrictions in Dynamic Panel Data Models. Journal of Econometrics, 87, 115-143.
Borissov, K., & Hashimzade, N. (2022). Fiscal Policy and Inequality in a Model with Endogenous Positional Concerns. Journal of Mathematical Economics, 103, 1-12.
Brady, G. L., & Magazzino, C. (2018). Government Debt in EMU Countries. The Journal of Economic Asymmetries, e00096, 1-9.
Bui, D., Dräger, L., Hayo, B., Nghiem, G. (2022). The Effects of Fiscal Policy on Households during the COVID-19 Pandemic: Evidence from Thailand and Vietnam. World Development, 153, 1-12.
Canavire-Bacarreza, G., Martinez-Vazquez, & Vulovic, V. (2013). Taxation and Economic Growth in Latin America. IDB Working Papers, IDB-WP-431, 1-48.
Checherita-Westpahl, C., & Rother, P. (2012). The Impact of High Government Debt on Economic Growth and Its Channels: An Empirical Investigation for the Euro Area. European Economic Review, 56(7), 1392-1405.
Chen, S., & Ravallion, M. (2003). What Can New Survey Data Tell Us about Recent Changes in Distribution and Poverty? World Bank Economic Review, 11, 357-382.
Dackehag, M., & Hansson, A. (2012). Taxation of Income and Economic Growth: An Empirical Analysis of 25 Rich OECD Countries. ECONSTORE, Working Paper, 2012(6), 1-33.
Dalena, M., & Magazzino, C. (2012). Public Expenditure and Revenue in Italy, 1862-1993. Economic Notes, 41(3), 145-172.
Dauda, R. S. (2016). Poverty and Economic Growth in Nigeria: Issues and Policies. Journal of Poverty, 21(1), 61-79.
De Vita, G., Trachanas, E., & Luo, Y. (2018). Revisiting the bi-directional Causality between Debt and Growth: Evidence from Linear and Non-Linear Tests. Journal of International Money and Finance, 83, 55-74.
Deininger, R, K., & Squire, L. (1998). New Ways of Looking at Old Issues: Inequality and Growth. Journal of Development Economics, 57(2), 259-287.
---------- (1996). Measuring Income Inequality: A New Database. World Bank Economic Review, 10(3), 565-591.
Dieleman, J. L., Graves, C., & Hanlon, M. (2013). The Fungibility of Health Aid: Reconsidering the Reconsidered. Journal of Development Studies, 49(12), 1755-1762.
Dieleman, J. L., & Hanlon, M. (2014). Measuring the Displacement and Replacement of Government Health Expenditure. Health Economics, 23, 129-140.
Donfouet, H. P. P., Jeanty, P. W., & Malin, E. (2016). Analysing Spatial Spillovers in Corruption: A Dynamic Spatial Panel Data Approach. Papers in Regional Science, 97, S63-S78.
Driscoll, J. C., & Kraay, A. C. (1998). Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data. The Review of Economics and Statistics, 80, 549-560.
Eicker, F. (1967). Limit Theorems for Regressions with Unequal and Dependent Errors (59–82). In L. LeCam and J. Neyman (Ed.), Proceedings of the Fifth Berkeley Symposium on Mathematical Statistics and Probability. Berkeley: University of California Press.
Hornset, N., & Soysa, I. D. (2020). Does Empowering Women in Politics Boost Human Capital Formation? An Empirical Analysis. American Economic Review, 86(3), 374-87
Huber, P. J. (1967). The Behavior of Maximum Likelihood Estimates under Non-Standard Conditions (221-233). In Proceedings of the Fifth Berkeley Symposium in Mathematical Statistics and Probability, 1. Berkeley, CA: University of California Press.
International Debt Statistics. (2019). World Bank Group (Washington, DC). Retrieved from http://www.worldbank.org.
Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. New York: Harcourt, Brace and Co.
Kim, D. -H., Wu, Y. C., & Lin, S. C. (2018). Heterogeneity in the Effects of Government Size and Governance on Economic Growth. Economic modelling, 68(C), 205-216.
Kakwani, N., & Pernia, E. M. (2000). What is pro-poor growth? Asian Development Review, 18, 1-16.
Lu, C., Schneider, M. T., Gubbins, P., Leach-Kemon, K., Jamison, D., & Murray, C. J. L. (2010). Public Financing of Health in Developing Countries: A Cross-National Systematic Analysis. Lancet, 375, 1375-1387.
Lucas Jr., R. E. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22(1), 3-42.
Magazzino, C. (2014). Government Size and Economic Growth in Italy: An Empirical Analysis Based on New Data. International Journal of Empirical Finance, 3(2), 38-54.
Myrdal, G. (1968). Asian Drama: An Inquiry into the Poverty of Nation. In Great Thinkers in Economics Series. London: Palgrave Macmillan.
North, D. C. (1990). Institutions, Institutional Change and Economic Performance. New York: Cambridge University Press.
Olabisi, M., & Stein, H. (2015). Sovereign Bond Issues: Do African Countries Pay More to Borrow. Journal of African Trade, 2(2015), 87-109.
Olaoye O.O., Orisadare M. A., & Okorie, U. U. (2019). Government expenditure and economic growth nexus in ECOWAS: A Panel VAR Approach. Journal of Economic and Administrative Sciences, 36(3), 204-225.
Olaoye, O. O., & Aderajo, O. M. (2020). Institutional Infrastructure and Economic Growth in ECOWAS: An Investigation into the Hierarchy of Institution Hypothesis (HIH). International Journal of Social Economics, 47(9), 1081-1108.
Olaoye O. O., Orisadare M. A., Okorie, U.U., & Abanikanda, E. O. (2020). Re-Examining the Government Expenditure-Economic Growth Nexus in ECOWAS. Journal of Economic and Administrative Sciences, 36(4), 277-301.
Olaoye, O. O., Eluwole, O. O., Ayesha, A., & Afolabi, O. O. (2020). Government Spending and Economic Growth in ECOWAS: An Asymmetric Analysis. Journal of Economic Asymmetries, 22, e00180.
Pesaran, M. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics, 0435, Retrieved from https://cir.nii.ac.jp/crid/1370002214340987648
Philip, D. E., & Miguel, S. M. (2015). A Review of the Economic Theories of Poverty. Retrieved from https://www.niesr.ac.uk/wp-content/uploads/2021/10/dp435_0.pdf
Rashid, A., & Intartaglia, M. (2017). Financial Development – Does It Lessen Poverty? Journal of Economic Studies, 44(1), 69–86.
Ravallion, M. (2010). Poverty Lines across the World. World Bank Policy Research, Working Paper, 5284, 1-38.
---------- (2004). Pro-poor Growth: A Primer. Working Paper Series, 3242, 1-28.
---------- (1995). Growth and Poverty: Evidence for Developing Countries in the 1980s. Economic Letters, 48(3/4), 411-417.
Romer, P. M. (1990a). Increasing Returns and Long-Run Growth. Journal of Political Economy, 94(5), 1002-1037.
---------- (1990b). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102.
Claude Saha, J. (2008). Reducing Poverty in Sub-Saharan Africa: The Need for Participatory Governance. Development in Practice, 18(2), 267-272.
Sedrakyan, G. S., & Candamio, L. (2019). Wagner’s Law vs. Keynes’ Hypothesis in very Different Countries (Armenia and Spain). Journal of Policy Modeling, 41(4), 747-762.
Siburian, M. E. (2022). The Link between Fiscal Decentralization and Poverty – Evidence from Indonesia. Journal of Asian Economics, 81, 1-6.
Smaoui, H., & Nechi, S. (2017). Does Sukuk Market Development Spur Economic Growth? Research in International Business and Finance, 41, 136-147.
Szarowska, I. (2013). Effects of Taxation by Economic Functions on Economic Growth in the European Union. MPRA Paper, 59781, 1-14.
Tanchev, S. (2016). The Role of the Proportional Income Tax on the Economic Growth of Bulgaria. Ikonomicheski Izsledvania, 25(4), 66–77.
Vartia, L. (2008). How Do Taxes Affect Investment and Productivity? Industry Level Analysis of OECD Countries. OECD Economics Department Working Papers, 656, 1-41.
Vijayakumar, S. (2013). An Empirical Study on the Nexus of Poverty, GDP Growth, Dependency Ratio and Employment in Developing Countries. Journal of Competitiveness, 5(2), 67-82.
World Development Report. (1990). Poverty. New York, NY: Oxford University Press.
World Bank. (2018). Africa’s Pulse, 18. Washington, DC: World Bank.
World Bank PovcalNet and Poverty Equtity. (2017). PovcalNet, Online Analysis Tool. Retrieved from http//iresearch.worldbank.org/PovcalNet
World Health Organization. (2020). Basic Information. Retrieved 14 June 2019 from https://www.who.int/ | ||
|
آمار تعداد مشاهده مقاله: 20 تعداد دریافت فایل اصل مقاله: 32 |
||
سامانه مدیریت نشریات علمی. قدرت گرفته از سیناوب