Olumide O. Olaoye, Mulatu Fekadu Zerihun, Mosab I. Tabash
{"title":"撒哈拉以南非洲的财政政策与减贫:这种关系是否受商业周期的影响?","authors":"Olumide O. Olaoye, Mulatu Fekadu Zerihun, Mosab I. Tabash","doi":"10.1108/ajems-11-2023-0447","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>The study examined the effect of fiscal policy on poverty in sub-Saharan Africa (SSA) while accounting asymmetric (captured by economic downturns) and spillover effects.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>The study used a fixed effect (within regression) IV model to account for country-specific characteristics. The study also adopts a cross-sectional and spatial dependence-consistent model to account for the potential cross-sectional and temporal dependence in panel data modeling.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>The study discovered that the effect of fiscal policy on poverty is dependent on the state of the economy. Specifically, we find that fiscal policy helps to reduce the level of poverty during an economic downturn, more than at any other time. More specifically, the findings indicate that the fiscal policy lowers the rate of poverty in SSA, following macroeconomic shocks (captured by the COVID-19 epidemic, the Global Financial Crisis, and the commodity terms of trade shocks). Our findings suggest that fiscal policy is an important policy tool to mitigate the effects of macroeconomic shocks in SSA. Further, the findings also demonstrate that there is a spillover effect of poverty in the region. This implies coordinated, constructive actions by the regional governments can help to lessen the detrimental effects of extreme poverty.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>The study examined the effectiveness of fiscal policy to reduce poverty in the event of an economic downturn.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.4000,"publicationDate":"2024-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Fiscal policy and poverty reduction in sub-Saharan Africa: is the relationship influenced by the business cycle?\",\"authors\":\"Olumide O. Olaoye, Mulatu Fekadu Zerihun, Mosab I. Tabash\",\"doi\":\"10.1108/ajems-11-2023-0447\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<h3>Purpose</h3>\\n<p>The study examined the effect of fiscal policy on poverty in sub-Saharan Africa (SSA) while accounting asymmetric (captured by economic downturns) and spillover effects.</p><!--/ Abstract__block -->\\n<h3>Design/methodology/approach</h3>\\n<p>The study used a fixed effect (within regression) IV model to account for country-specific characteristics. The study also adopts a cross-sectional and spatial dependence-consistent model to account for the potential cross-sectional and temporal dependence in panel data modeling.</p><!--/ Abstract__block -->\\n<h3>Findings</h3>\\n<p>The study discovered that the effect of fiscal policy on poverty is dependent on the state of the economy. Specifically, we find that fiscal policy helps to reduce the level of poverty during an economic downturn, more than at any other time. More specifically, the findings indicate that the fiscal policy lowers the rate of poverty in SSA, following macroeconomic shocks (captured by the COVID-19 epidemic, the Global Financial Crisis, and the commodity terms of trade shocks). Our findings suggest that fiscal policy is an important policy tool to mitigate the effects of macroeconomic shocks in SSA. Further, the findings also demonstrate that there is a spillover effect of poverty in the region. This implies coordinated, constructive actions by the regional governments can help to lessen the detrimental effects of extreme poverty.</p><!--/ Abstract__block -->\\n<h3>Originality/value</h3>\\n<p>The study examined the effectiveness of fiscal policy to reduce poverty in the event of an economic downturn.</p><!--/ Abstract__block -->\",\"PeriodicalId\":46031,\"journal\":{\"name\":\"African Journal of Economic and Management Studies\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.4000,\"publicationDate\":\"2024-07-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"African Journal of Economic and Management Studies\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1108/ajems-11-2023-0447\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"African Journal of Economic and Management Studies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/ajems-11-2023-0447","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
Fiscal policy and poverty reduction in sub-Saharan Africa: is the relationship influenced by the business cycle?
Purpose
The study examined the effect of fiscal policy on poverty in sub-Saharan Africa (SSA) while accounting asymmetric (captured by economic downturns) and spillover effects.
Design/methodology/approach
The study used a fixed effect (within regression) IV model to account for country-specific characteristics. The study also adopts a cross-sectional and spatial dependence-consistent model to account for the potential cross-sectional and temporal dependence in panel data modeling.
Findings
The study discovered that the effect of fiscal policy on poverty is dependent on the state of the economy. Specifically, we find that fiscal policy helps to reduce the level of poverty during an economic downturn, more than at any other time. More specifically, the findings indicate that the fiscal policy lowers the rate of poverty in SSA, following macroeconomic shocks (captured by the COVID-19 epidemic, the Global Financial Crisis, and the commodity terms of trade shocks). Our findings suggest that fiscal policy is an important policy tool to mitigate the effects of macroeconomic shocks in SSA. Further, the findings also demonstrate that there is a spillover effect of poverty in the region. This implies coordinated, constructive actions by the regional governments can help to lessen the detrimental effects of extreme poverty.
Originality/value
The study examined the effectiveness of fiscal policy to reduce poverty in the event of an economic downturn.
期刊介绍:
African Journal of Economic and Management Studies (AJEMS) advances both theoretical and empirical research, informs policies and practices, and improves understanding of how economic and business decisions shape the lives of Africans. AJEMS is a multidisciplinary journal and welcomes papers from all the major disciplines in economics, business and management studies.