Table 1

The list of studies on the effects of fiscal deficits on macroeconomic stability

StudiesData spanCountryTechniqueFindings
Epaphra (2017) 1966–2015TanzaniaVECMFS ↓ EG
   FS ↓ EXCH
   FS ↑ INF
Brima and Mansaray-Pearce (2015) 1980–2014Sierra LeoneVECMFS ↓ EG
   FS ↓ EXCH
   FS ↑ INF
Dao and Bui (2016) 2003–2015VietnamARDLFS≠>EG
Velnampy and Achchuthan (2013) 1970–2010Sri LankanOLSFS≠>EG
Tung (2018) 2003–2016VietnamError-correction estimatorFS↓EG
Navaratnam and Mayandy (2016) 1980–2014South Asian countriesError-correction estimatorFS ↓↑EG
Sabr et al. (2021) 1980–2018IraqARDLFS ↓↑EG
Momanyi et al. (2013) 1970–2007KenyaError-correction estimatorFS↑EG
Onwioduokit and Inam (2018) ---LiberiaError-correction estimatorFS↑EG
Gyasi (2020) ---MoroccoARDLFS↑EG
Awolaja and Esefo (2019) 1991–2018Sub-Saharan AfricaPool mean GroupFS ↓↑EG
Umeora (2013) 1970–2011NigeriaOLSFS↑EXCH
Wuyah and Amwe (2015) 1970–2013NigeriaVECMFS↓EXCH
   FS↑INF
Chukwu et al. (2020) 1980–2012NigeriaTwo-stage least squaresFS ↓EG
   FS ↓ EXCH
   FS ↓ INF
Fasoranti and Amasoma (2013) 1961–2011NigeriaError-correction estimatorFS↑EXCH
Okoro and Oksakei (2020)  NigeriaARDLFS≠>INF
Ekomabasi and Ekong (2023) 1981–2019NigeriaARDLFS↓INF
Kolawole (2023) 1981–2021NigeriaARDLFS ↓↑EG
Adekunle (2023) 1985–2018NigeriaARDLFS ↓↑EXCH

Note(s): FS: fiscal deficits; EG: economic growth; EXCH: exchange rate; INF: inflation; VECM: vector error correction mechanism; ARDL:

autoregressive distributed lag estimator and OLS: ordinary least squares

↑: it implies positive effect; ↓: it indicates negative effect; ↓↑: it means evidence of mixed results of positive and negative effects;

≠>: I\it signals insignificant effect and ---: it implies that the study does not indicate the scope of the study

Source(s): Authors’ computations

[ViewLarge]
This Feature Is Available To Subscribers Only

or Create an Account

Close Modal
Close Modal