This paper investigates the impact of fiscal consolidation in different states on domestic government debt in South Africa. The government budget constraint theoretical framework and Markov-switching dynamic regression (MSDR) from 1979 to 2022. The contribution of this paper is to examine fiscal...

This paper investigates the threshold impact of government debt on economic growth in the presence of fiscal consolidation in South Africa from 1979 to 2022. The autoregressive threshold regime (TAR) model and two-stage least squares (2SLS) are used. The contribution of the paper is on the...

overnment debt, as a prime macroeconomic determinant, has a significant impact on the design of fiscal and monetary policy in a country. That is to say, that, with the emergence of the Corona crisis and the energy crisis which caused: 1) interruption of global supply chains, 2) increase in food...

Do governments in Latin America tend to be optimistic when preparing budgetary projections? We address this question by constructing a novel dataset of the authorities' fiscal forecasts in six Latin American economies, using data from annual budget documents over the period 2000-2018. We compare...

The Communication by the European Commission to reform the Economic Governance Framework offers welcome headspace for public investment, while avoiding the de jure adoption of a 'targeted Golden Rule' as this could conflict with national accounting conventions. However, even with this reform,...

The Communication by the European Commission to reform the Economic Governance Framework offers welcome headspace for public investment, while avoiding the de jure adoption of a 'targeted Golden Rule' as this could conflict with national accounting conventions. However, even with this reform,...