This paper is not intended to assess and to examine fiscal policies carried out by the fiscal authorities of any country, including the Indonesian government, but only to refresh theoretical fiscal policy functions, which are then linked to some facts of their implementation in a number of...

This paper offers a comprehensive review of macroeconomic policy in democratic South Africa. It does so with two distinctive features. First, macroeconomic policy is analysed on four interlocking, and sometimes conflicting, levels: [1] policy as provided “on paper” in government plans and...

Future sustainable economic development depends heavily on public policy at regional, national, and global levels. Therefore, it is crucial to conduct a thorough policy analysis that ensures consistent and effective policy guidance. However, a major challenge in traditional policy analysis is...

This paper surveys evidence of the impact of macroeconomic and financial sector policy announcements in the euro area during the recent crisis on interbank credit and liquidity risk premia. Evidence suggests that interest rates cuts, fiscal stimulus and recapitalization measures were effective...

The paper presents an analysis of (Italian region) Sicilia’s financial flows using data from Regional Public Accounts. The paper is divided into two main parts. The first part of the work considers financial flows as a whole. The second part considers more in detail expenditure and revenue...

This paper examines the potential role for foreign official holdings of U.S. Treasury securities and the associated implications for Treasury security interest rates, international portfolio allocations, net international income flows, and the U.S. net international debt position, using a...

This paper examines the potential role for foreign official holdings of U.S. Treasury securities and the associated implications for Treasury security interest rates, international portfolio allocations, net international income flows, and the U.S. net international debt position, using a...

This paper documents economic trend in Swaziland aftermath of the global economic and financial crisis, establishing that Swaziland’s economy is highly dependent on external market and the country’s growth prospect is largely contingent on developments in South Africa. The declining trend in...

The study employed the bounds test (ARDL) approach to cointegration to examine the long run and short run relationships between macroeconomic variables, fiscal deficit and economic growth in Morocco as the case study. The results show that fiscal deficit affect economic growth in the Moroccan...

Only a decade ago, Africa’s socioeconomic growth potential was confined to the doldrums and back alley of underdevelopment. Today, the international media continues to be abuzz with common memes such as ‘Africa Rising’ and ‘The Final Investment Frontier’ amongst others. Many writers...