The sustainability of South African fiscal policy: an historical perspective

被引：11

作者：

Lusinyan, Lusine ^{[1
]}

Thornton, John ^{[1
]}

机构：

[1] Int Monetary Fund, Fiscal Affairs Dept, Washington, DC 20431 USA

来源：

APPLIED ECONOMICS | 2009年 / 41卷 / 07期

关键词：

UNIT-ROOT; TIME-SERIES; COINTEGRATING RANK; STRUCTURAL BREAKS; TESTS; HYPOTHESIS; MODELS; SHIFTS; VECTORS;

D O I：

10.1080/00036840701604537

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article examines the issue of long-run fiscal sustainability in South Africa by applying a battery of recently developed unit root and cointegration tests to real revenue and spending data for the period 1895 to 2005. The results provide evidence that, allowing for structural breaks, South African revenue and spending during this period were I(1) series and cointegrated, with the estimated long-run equilibrium relation supporting the presence of a weak deficit sustainability condition.

引用

页码：859 / 868

页数：10

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