Fiscal policy shocks and macroeconomic growth in South Africa : missing links and policy gaps / Eliphas Ndou, Nombulelo Gumata.
Ndou, Eliphas, author.; Gumata, Nombulelo, author.
2023
HJ1471
Available Online

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Title Fiscal policy shocks and macroeconomic growth in South Africa : missing links and policy gaps / Eliphas Ndou, Nombulelo Gumata.
Author Ndou, Eliphas, author.
ISBN 9783031377556 (electronic bk.)
3031377559 (electronic bk.)
9783031377549
3031377540
DOI https://doi.org/10.1007/978-3-031-37755-6
Published Cham : Palgrave Macmillan, 2023.
Language English
Description 1 online resource (xxxv, 255 pages) : illustrations
Other Standard Identifiers 10.1007/978-3-031-37755-6 doi
Call Number HJ1471
Dewey Decimal Classification 336.68
Summary This book explores the disconnect between fiscal policy and macroeconomic development in South Africa. It analyses the factors that have contributed to the lack of economic growth in the country over recent decades and outlines an improved fiscal policy framework that increases investment and employment. Particular attention is given to the impact of government debt and its relationship with GDP, the connection between budget deficits and interest rates, and how economic policy uncertainty affects employment dynamics and inflation. This book provides practical fiscal policy suggestions to increase economic growth in South Africa and Africa more generally. It will be relevant to researchers and policymakers interested in African economics and economic policy. Eliphas Ndou is a Senior Lecturer in Economics at the University of South Africa. He has worked as an economist at the South African Reserve Bank and has authored books on international finance, fiscal policy, monetary, labour, macro and microeconomics, banking regulation, and macro-prudential policy. Nombulelo Gumata is an Economist. She worked at the South African Reserve Bank and has authored several books on international finance and macroeconomics, macro-prudential and regulatory tools and financial stability, labour markets, and monetary, and fiscal policy.
Bibliography, etc. Note Includes bibliographical references and index.
Access Note Access limited to authorized users.
Source of Description Online resource; title from PDF title page (SpringerLink, viewed September 25, 2023).
Added Author Gumata, Nombulelo, author.
Available in Other Form Print version: 9783031377549
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Chapter 1 Introduction
Chapter 2 Synopsis of fiscal policy in South Africa: 1994-2020
Part 1: Government debt
Chapter 3 Effects of government debt on output, household consumption and gross fixed capital formation: Role of the credit conditions channel
Chapter 4 Government debt and household consumption: the influence of the wealth channel
Chapter 5 Government debt and capital formation nexus in South Africa: The role of the debt threshold
Chapter 6 Government debt and fixed capital formation nexus: Effects of the interest rate and monetary policy credibility channels
Chapter 7 Inflation targeting band, the government debt and capital formation nexus in South Africa
Chapter 8 Do high government debt-to-GDP regimes propagate the adverse macro-economic effects of high budget deficit regimes?
Chapter 9 Debt-to-GDP ratio, investment growth and employment growth, and their response to high nominal GDP growth regimes
Chapter 10 The impact of the debt-to-GDP ratio on investment growth
Part 2: Fiscal budget balance deficits
Chapter 11 Budget deficit thresholds and their macroeconomic impact
Chapter 12 The impact of a persistent increase in the budget deficit on real interest rates
Chapter 13 What are the effects of budget deficit regimes on inflation and inflation expectations?
Part 3: Interest rates
Chapter 14 Widening budget deficits and investment growth dynamics
Chapter 15 Do high debt service costs reduce the potency of accommodative fiscal policy in South Africa?
Chapter 16 What are the macroeconomic effects of a positive interest rate-GDP growth differential shock?
Part 4: Economic policy uncertainty
Chapter 17 Economic policy uncertainty and the employment dynamics in South Africa under the inflation targeting regime
Chapter 18 Economic policy uncertainty, employment dynamics and price stability in South Africa
Chapter 19 The role of economic and policy uncertainty on the effects of widening budget deficits on yields and the credit default swap spreads
Chapter 20 Summary of main findings and policy implications.

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