"Successful fiscal adjustments" : empirical evidence from South Africa

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dc.contributor.advisorAbedian, Irajen_ZA
dc.contributor.authorDuperrut, Jeromeen_ZA
dc.date.accessioned2015-09-14T18:05:58Z
dc.date.available2015-09-14T18:05:58Z
dc.date.issued1998en_ZA
dc.descriptionBibliography: leaves 95-102.en_ZA
dc.description.abstractFrom 1973 to 1997 South Africa's fiscal stance has undergone large fluctuations. The primary balance of the general government recorded a surplus of 3.8% of GDP in 1990 and a deficit equivalent to 4.5% of GDP in both 1977 and 1994. This paper identifies ten episodes of fiscal adjustment, defined as a fiscal year during which the primary deficit was reduced by more than 1.5% of GDP. It then assesses the success of these episodes, according to the evolution of the debt ratio two or three years after the adjustment. In South Africa there have been two episodes of successful fiscal adjustment: in 1978 and in 1980. The paper proceeds by analysing the size and the composition of the various fiscal adjustments. It shows that successful fiscal adjustments are generally smaller than unsuccessful ones. On the taxation side, successful adjustments rely mainly on non-tax revenue, whereas unsuccessful ones record large increases in direct taxation. Generally the adjustment is mostly felt on the expenditure side. As in most developing countries, capital expenditure is the main target for cuts. However, the size of the reduction in capital expenditure is smaller in successful adjustments. Furthermore, these adjustments record spending cuts in all categories of expenditure, contrary to unsuccessful contractions. It seems that successful adjustments rely on temporary tax increases and permanent spending cuts.en_ZA
dc.identifier.apacitationDuperrut, J. (1998). <i>"Successful fiscal adjustments" : empirical evidence from South Africa</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/13893en_ZA
dc.identifier.chicagocitationDuperrut, Jerome. <i>""Successful fiscal adjustments" : empirical evidence from South Africa."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 1998. http://hdl.handle.net/11427/13893en_ZA
dc.identifier.citationDuperrut, J. 1998. "Successful fiscal adjustments" : empirical evidence from South Africa. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Duperrut, Jerome AB - From 1973 to 1997 South Africa's fiscal stance has undergone large fluctuations. The primary balance of the general government recorded a surplus of 3.8% of GDP in 1990 and a deficit equivalent to 4.5% of GDP in both 1977 and 1994. This paper identifies ten episodes of fiscal adjustment, defined as a fiscal year during which the primary deficit was reduced by more than 1.5% of GDP. It then assesses the success of these episodes, according to the evolution of the debt ratio two or three years after the adjustment. In South Africa there have been two episodes of successful fiscal adjustment: in 1978 and in 1980. The paper proceeds by analysing the size and the composition of the various fiscal adjustments. It shows that successful fiscal adjustments are generally smaller than unsuccessful ones. On the taxation side, successful adjustments rely mainly on non-tax revenue, whereas unsuccessful ones record large increases in direct taxation. Generally the adjustment is mostly felt on the expenditure side. As in most developing countries, capital expenditure is the main target for cuts. However, the size of the reduction in capital expenditure is smaller in successful adjustments. Furthermore, these adjustments record spending cuts in all categories of expenditure, contrary to unsuccessful contractions. It seems that successful adjustments rely on temporary tax increases and permanent spending cuts. DA - 1998 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 1998 T1 - "Successful fiscal adjustments" : empirical evidence from South Africa TI - "Successful fiscal adjustments" : empirical evidence from South Africa UR - http://hdl.handle.net/11427/13893 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/13893
dc.identifier.vancouvercitationDuperrut J. "Successful fiscal adjustments" : empirical evidence from South Africa. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 1998 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/13893en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentSchool of Economicsen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherEconomicsen_ZA
dc.title"Successful fiscal adjustments" : empirical evidence from South Africaen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMSocScen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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