This paper examines the cyclicality of government revenue, spending and the key fiscal balances in South Africa during 1972-2001. The results suggest that while government revenues were largely acyclical, government spending appears to have been predominantly counter-cyclical, in line with the...

Results from unit root and cointegration tests suggest that, allowing for structural breaks, government revenue and expenditure in South Africa during 1895-2005 were "I"(1) series and cointegrated. Results from Granger-type causality tests suggest that a bidirectional Granger-causal relation...

Regression results from a panel of 53 Middle East and African economies suggest that corruption has a quite large negative and statistically significant impact on tax revenues, mainly reflecting the impact of corruption on tax collections from social security, and taxes on domestic goods and...

Several studies have emphasized the need to 'filter' the money growth and inflation data before a clear short-run intertemporal relation between them is revealed. When a simple filtering technique is employed to changes in money and prices, the correlation of the series tends to increase as the...

This paper examines the long-run money-inflation relation for 36 African countries using cross-section and panel data analysis. The focus is on the recent claim by De Grauwe and Polan that the common finding in multi-country studies of a strong positive link typically reflects the presence of...

This note, employing a GARCH model, finds a positive and significant relationship between the level and variability of inflation in South Africa in the period 1957:1-2005:9. This provides evidence in support of Friedman's hypothesis that high inflation leads to more variable inflation. Copyright...