Fiscal Policy Tools and Economic Growth in Jordan: Evidence from Time-Series Models

Mugableh, Mohamed Ibrahim

doi:10.5539/ijef.v11n1p1

Cited by 12 publications

(5 citation statements)

References 20 publications

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“…These results are generally consistent with Mugableh (2019), who emphasizes that fiscal policies and financial instruments lead to economic growth in the long run; with Machinjike and Bonga (2020), who state that achieving financial stability is key, leading to stability and growth; and with Misra, Gupta, and Trivedi (2021), who emphasize that the basis of sustainability and performance appraisal in the field of debt could control government spending by providing transparency to prevent any moral risk and increasing government revenues.…”

Section: Methods Of Analysissupporting

confidence: 82%

Fiscal Space Policies for Sustainable Development and Debt Relief: Empirical Analysis in West African Countries

Kazemikhasragh

Pineda

2023

New Global Studies

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The uncertainty that the COVID-19 pandemic has brought demonstrates that income redistribution and traditional debt relief mechanisms are insufficient to meet public spending needs, mitigate external debt, and comply with the UN’s Sustainable Development Goals (SDGs), which aim to reduce multilateral debt to sustainable levels. Also, West African countries have focused their attention on the long-term fight against poverty and inequality and strengthening their social programs, especially in primary health care and macroeconomic stability. However, for more than a decade, the developing and least developed countries of West Africa have faced rapidly weakening macroeconomic conditions, combining several interrelated crises such as the sharp decline in oil prices, volatile financial markets and tourism disruptions, a global recession, the crisis of climate change, and shortages of food and energy, along with the economic contraction of COVID-19. Data from these countries show that health spending increases economic growth, minimizes infant mortality rates, and reduces debt. Furthermore, increasing government spending efficiency reduces the total debt and improves the health sector, in particular.

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Section: Methods Of Analysissupporting

confidence: 82%

Fiscal Space Policies for Sustainable Development and Debt Relief: Empirical Analysis in West African Countries

Kazemikhasragh

Pineda

2023

New Global Studies

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“…Once co-integration is well-known, the next step is to estimate equilibrium relationships between variables (Mugableh, 2019a;Mugableh, 2019b). In Table 3, the long-run and short-run results show that economic growth has positive impact on stock market development.…”

Section: Results Analysismentioning

confidence: 99%

Reviewing the Equilibrium and Causal Relationships between Stock Market Development and Economic Growth in Jordan

Malkawi¹

2019

IJEF

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The relationship between stock market development and economic growth has been diversely investigated by many researchers. This paper investigates the equilibrium and causal relationships between stock market development and economic growth in Jordan for the 1980-2018 period. It employs the ARDL approach and the results show evidence of a co-integration and causal relationships between variables. These results are broadly consistent with similar studies carried out for other developing economies.

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“…While value added tax and companies income appeared to be positively linked with the rate of economic growth. Mugableh (2019) explored the dynamics of fiscal policy tools and economic growth in Jordan. Time series data covering 1978-2017 was analysed using ARDL cointegration procedure.…”

Section: Literature Reviewmentioning

confidence: 99%

Economic Growth Effects of Fiscal Policy in South Africa: Empirical Evidence from Personal Income Tax

Tala

2024

IJEFI

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This study determined economic growth effects of fiscal policy in South Africa. Particular attention was paid to effects of personal income tax on economic growth for the period 1993Q3 -2022Q4. The influence of personal income tax on economic growth was analysed using non-linear autoregressive distributed lag (NARDL) bounds test for cointegration. Estimated results indicated rise in personal income tax is growth-friendly in the short-run. While, in the long –run growth is affected by both positive and negative shocks in personal income tax. Positive personal income tax changes are detrimental to economic growth in the long run. Increasing personal income tax will compromise the country’s economic growth strategy. Furthermore, positive changes in personal income tax affect economic growth more than negative shocks as confirmed by dynamic multiplier graph. Dynamic multiplier graph further reveal existence of asymmetry. Additionally, Wald test value of -6.2775 validated asymmetric effect of personal income tax on economic growth. It is therefore, recommended that policy makers should focus on considering other sources of tax revenue. The current structure of the tax system is skewed towards personal income tax. Policy makers should keep the current ratio of personal income tax and widen tax base to realise inclusive economic growth.

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Fiscal Policy Tools and Economic Growth in Jordan: Evidence from Time-Series Models

Cited by 12 publications

References 20 publications

Fiscal Space Policies for Sustainable Development and Debt Relief: Empirical Analysis in West African Countries

Fiscal Space Policies for Sustainable Development and Debt Relief: Empirical Analysis in West African Countries

Reviewing the Equilibrium and Causal Relationships between Stock Market Development and Economic Growth in Jordan

Economic Growth Effects of Fiscal Policy in South Africa: Empirical Evidence from Personal Income Tax

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