아프리카ㆍ중동
연구정보
[경제] Fiscal Dominance in Sub-Saharan Africa Revisited
아프리카ㆍ 중동 일반 국외연구자료 연구보고서 - IMF 발간일 : 2021-01-29 등록일 : 2021-05-08 원문링크
This paper explores the causes and consequences of fiscal dominance over monetary policy in Sub-Saharan Africa (SSA). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and increasingly so as fiscal deficits and public debt are rising in many SSA countries. We find that legal limits and availability of alternative financing options play an important role in determining the extent to which government deficits tend to be financed by the central bank. We also find economically significant effects of central bank lending to government on the exchange rate and inflation.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
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