Structural breaks and twin deficits hypothesis in African countries
The study examines the twin deficits hypothesis in a sample of twelve African countries for the period between 1980 and 2009. These countries have experienced both the current account and the fiscal deficits, among others, that prompted an introduction of structural reforms. The paper explores long-...
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| Veröffentlicht in: | Economic change and restructuring 2015-02, Vol.48 (1), p.1-35 |
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| container_title | Economic change and restructuring |
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| creator | Ahmad, Ahmad Hassan Aworinde, Olalekan Bashir |
| description | The study examines the twin deficits hypothesis in a sample of twelve African countries for the period between 1980 and 2009. These countries have experienced both the current account and the fiscal deficits, among others, that prompted an introduction of structural reforms. The paper explores long-run relationship between the series and their short-run dynamics within the context of endogenously determined structural breaks. The identified dates are generally associated with external factors that include commodity price boom and burst cycles that the countries heavily depend on. The estimated results for eight of the countries indicate that there is a positive relationship between the current account and fiscal deficits and therefore, support the twin deficits hypothesis. Results for the remaining four countries of Ethiopia, Kenya, South Africa and Uganda, on the other hand, show that the relationship between the two is negative. |
| doi_str_mv | 10.1007/s10644-014-9154-2 |
| format | Article |
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| source | SpringerNature Journals; EBSCOhost Business Source Complete |
| subjects | Africa Budget deficit Budget deficits Commodity prices Consumption Current account Current accounts Determinants Developing countries Development Economics Economic Growth Economic models Economic Policy Economic reform Economic statistics Economic theory Economics Economics and Finance Estimation Foreign exchange rates GDP Government spending Gross Domestic Product Hypotheses Interest rates International Economics LDCs Macroeconomics/Monetary Economics//Financial Economics Political Economy/Economic Systems Structural change Studies Variables |
| title | Structural breaks and twin deficits hypothesis in African countries |
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