A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks

 

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dc.contributor.advisor Mateane, Lebogang
dc.contributor.author Ngewana, Azande
dc.date.accessioned 2020-02-07T10:31:17Z
dc.date.available 2020-02-07T10:31:17Z
dc.date.issued 2019
dc.identifier.citation Ngewana, A. 2019. A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/30908
dc.description.abstract Historically, there are many examples of countries that have had to deal with the unpleasant consequences of economic mismanagement. A recent example is Venezuela, which has imploded into hyperinflation. It is therefore important to consider the question of fiscal sustainability in the South African context. This study ultimately aimed to test the sustainability of South Africa’s fiscal policy and public debt, with fiscal policy defined as the satisfaction of the intertemporal budget constraint. The Augmented Dickey–Fuller test was used to assess the stationarity of national government revenue and national government expenditure – both expressed as percentages of GDP – while the Engle–Granger test was used to test the residuals of the regression between national government revenue and national government expenditure for a long-run relationship. A long-run relationship was found between these two variables, suggesting that fiscal policy and South Africa’s public debt are sustainable. However, due to weakened institutions, the South African government should remain aware that the country’s fiscal policy could easily move into unsustainable territory.
dc.subject Economic Development
dc.title A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks
dc.type Master Thesis
dc.date.updated 2020-01-24T09:51:38Z
dc.language.rfc3066 eng
dc.publisher.faculty Faculty of Commerce
dc.publisher.department School of Economics
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom
dc.identifier.apacitation Ngewana, A. (2019). <i>A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks</i>. (). ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/30908 en_ZA
dc.identifier.chicagocitation Ngewana, Azande. <i>"A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks."</i> ., ,Faculty of Commerce ,School of Economics, 2019. http://hdl.handle.net/11427/30908 en_ZA
dc.identifier.vancouvercitation Ngewana A. A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks. []. ,Faculty of Commerce ,School of Economics, 2019 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/30908 en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Ngewana, Azande AB - Historically, there are many examples of countries that have had to deal with the unpleasant consequences of economic mismanagement. A recent example is Venezuela, which has imploded into hyperinflation. It is therefore important to consider the question of fiscal sustainability in the South African context. This study ultimately aimed to test the sustainability of South Africa’s fiscal policy and public debt, with fiscal policy defined as the satisfaction of the intertemporal budget constraint. The Augmented Dickey–Fuller test was used to assess the stationarity of national government revenue and national government expenditure – both expressed as percentages of GDP – while the Engle–Granger test was used to test the residuals of the regression between national government revenue and national government expenditure for a long-run relationship. A long-run relationship was found between these two variables, suggesting that fiscal policy and South Africa’s public debt are sustainable. However, due to weakened institutions, the South African government should remain aware that the country’s fiscal policy could easily move into unsustainable territory. DA - 2019 DB - OpenUCT DP - University of Cape Town KW - Economic Development LK - https://open.uct.ac.za PY - 2019 T1 - A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks TI - A Critical Assessment of the Sustainability of South Africa's Fiscal Policy and Related Institutional Frameworks UR - http://hdl.handle.net/11427/30908 ER - en_ZA


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