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Sustainable Fiscal Policies and Institutional Framework in West African Countries

Beecroft, Ibikun and Osabuohien, E. S. C. and OLURINOLA, Isaiah Oluranti (2015) Sustainable Fiscal Policies and Institutional Framework in West African Countries. In: 2nd Covenant University Conference on African Development Issues (CU-ICADI), 11th - 13th May, 2015, Africa Leadership Development Center, Covenant University, Ota, Nigeria..

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Abstract

A number of African countries have relied on external debt financing from multilateral institutions and 'generous' developed countries (e.g. through bilateral arrangements, etc.), with the intention of meeting their numerous financial needs. However, fiscal balances in West African countries have gradually declined in the last few years, following expansive infrastructural investment, coupled with weak institutions and poor revenue performance. This study examines the extent to which institutions affect fiscal sustainability in 15 West African countries (1996-20 12). With the aid of the Feasible Generalized Least Squares (FGLS) estimator, and using institutional indicators of government effectiveness, political stability, rule of law, regulatory quality and control of corruption, the results, among others, suggest that regulatory quality plays the most significant role in attaining sustainable fiscal policies in West Africa.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Control of corruption; Fiscal deficits; Fiscal policies; Institutions; West Africa
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 22 Jun 2015 19:26
Last Modified: 22 Jun 2015 19:26
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/5308

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