Fiscal sustainability in the PALOP Economies
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/25511 |
Resumo: | The Global Financial Crisis has typically led to a significant widening of fiscal positions (i.e. higher budget deficits and public debt), an issue that has been addressed by many re-searches on fiscal sustainability. Our aim in this study is to extend the extensive knowledge about fiscal policy sustainability in advanced economies by analysing the sustainability in the African continent. In particular, we examine the sustainability of public finance in Portuguese-speaking African countries (PALOP), using stationarity tests of external public debt-to-GDP ratios and cointegration tests between public revenue and public expenditure (as a percentage of GDP). Our findings for the period 1975-2019 suggest that some of the PALOP countries have endangered the sustainability of their corresponding fiscal positions. In fact, in our sample the solvency requirement seems to have been met only by Angola. In the context of a financial crisis, stemming from the COVID-19 pandemic, such sustainability issues are bound to be further challenged |
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Fiscal sustainability in the PALOP EconomiesSustentabilidade Fiscal nas Economias PALOPDebt SustainabilityGlobal Financial CrisisFiscal PolicyPALOPStationarityCointegrationTime SeriesThe Global Financial Crisis has typically led to a significant widening of fiscal positions (i.e. higher budget deficits and public debt), an issue that has been addressed by many re-searches on fiscal sustainability. Our aim in this study is to extend the extensive knowledge about fiscal policy sustainability in advanced economies by analysing the sustainability in the African continent. In particular, we examine the sustainability of public finance in Portuguese-speaking African countries (PALOP), using stationarity tests of external public debt-to-GDP ratios and cointegration tests between public revenue and public expenditure (as a percentage of GDP). Our findings for the period 1975-2019 suggest that some of the PALOP countries have endangered the sustainability of their corresponding fiscal positions. In fact, in our sample the solvency requirement seems to have been met only by Angola. In the context of a financial crisis, stemming from the COVID-19 pandemic, such sustainability issues are bound to be further challengedFaculdade de Economia - Universidade de CoimbraRepositório da Universidade de LisboaAfonso, AntónioLeão, Emanuel ReisTiny, DilsonBhimjee, Diptes C. P.2022-09-15T15:31:49Z20222022-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/25511engAfonso, António … [et al.]. (2022). "Fiscal sustainability in the PALOP Economies". Notas Económicas: Vol. 55, No. 3: pp. 55-700872-4733info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:55:04Zoai:www.repository.utl.pt:10400.5/25511Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:22.009249Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Fiscal sustainability in the PALOP Economies Sustentabilidade Fiscal nas Economias PALOP |
title |
Fiscal sustainability in the PALOP Economies |
spellingShingle |
Fiscal sustainability in the PALOP Economies Afonso, António Debt Sustainability Global Financial Crisis Fiscal Policy PALOP Stationarity Cointegration Time Series |
title_short |
Fiscal sustainability in the PALOP Economies |
title_full |
Fiscal sustainability in the PALOP Economies |
title_fullStr |
Fiscal sustainability in the PALOP Economies |
title_full_unstemmed |
Fiscal sustainability in the PALOP Economies |
title_sort |
Fiscal sustainability in the PALOP Economies |
author |
Afonso, António |
author_facet |
Afonso, António Leão, Emanuel Reis Tiny, Dilson Bhimjee, Diptes C. P. |
author_role |
author |
author2 |
Leão, Emanuel Reis Tiny, Dilson Bhimjee, Diptes C. P. |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Afonso, António Leão, Emanuel Reis Tiny, Dilson Bhimjee, Diptes C. P. |
dc.subject.por.fl_str_mv |
Debt Sustainability Global Financial Crisis Fiscal Policy PALOP Stationarity Cointegration Time Series |
topic |
Debt Sustainability Global Financial Crisis Fiscal Policy PALOP Stationarity Cointegration Time Series |
description |
The Global Financial Crisis has typically led to a significant widening of fiscal positions (i.e. higher budget deficits and public debt), an issue that has been addressed by many re-searches on fiscal sustainability. Our aim in this study is to extend the extensive knowledge about fiscal policy sustainability in advanced economies by analysing the sustainability in the African continent. In particular, we examine the sustainability of public finance in Portuguese-speaking African countries (PALOP), using stationarity tests of external public debt-to-GDP ratios and cointegration tests between public revenue and public expenditure (as a percentage of GDP). Our findings for the period 1975-2019 suggest that some of the PALOP countries have endangered the sustainability of their corresponding fiscal positions. In fact, in our sample the solvency requirement seems to have been met only by Angola. In the context of a financial crisis, stemming from the COVID-19 pandemic, such sustainability issues are bound to be further challenged |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-09-15T15:31:49Z 2022 2022-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/25511 |
url |
http://hdl.handle.net/10400.5/25511 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Afonso, António … [et al.]. (2022). "Fiscal sustainability in the PALOP Economies". Notas Económicas: Vol. 55, No. 3: pp. 55-70 0872-4733 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Faculdade de Economia - Universidade de Coimbra |
publisher.none.fl_str_mv |
Faculdade de Economia - Universidade de Coimbra |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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