What Can SVAR Models Tell us About the Impact of Public Expenditure Shocks on Macroeconomic Variables in Algeria? A Slight Hint to the COVID-19 Pandemic

Fatih, Chellai

doi:10.2478/foli-2021-0014

Cited by 6 publications

(3 citation statements)

References 21 publications

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“…In recent years, the COVID-19 pandemic has been such an event. It has affected the socio-economic phenomena [6][7][8][9][10]. The Sustainable Development Goals Report 2021 [11] indicates that even before the pandemic outbreak, global economic growth had slowed.…”

Section: Sustainable Development Goalsmentioning

confidence: 99%

Decent Work and Economic Growth in EU Countries—Static and Dynamic Analyses of Sustainable Development Goal 8

Bieszk-Stolorz,

Dmytrów

2023

Sustainability

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The goal of this research is a static geographic comparison of the degree of Sustainable Development Goal 8 (SDG8) implementation and to compare its dynamics for the European Union (EU) in the period of 2002–2021 with the consideration of the COVID-19 pandemic. The level of implementation of the 2030 Agenda for Sustainable Development objectives is monitored both jointly and individually. This research uses the COPRAS, the Dynamic Time Warping (DTW) and the hierarchical clustering methods. The study confirmed the geographical diversity in the degree of SDG8 implementation. Nordic countries have the highest degree of implementation, while Greece, Spain, Italy, Romania and Slovakia have the lowest. Some less-developed countries (Czechia, Poland and Malta) were in the cluster where the implementation improved, and some well-developed countries (France, Luxembourg and Portugal) were in the cluster in which the situation did not improve or improved at a low degree. It was not possible to identify geographical diversity in the dynamics of changes in the degree of SDG8 implementation. The COVID-19 pandemic caused the decline in the degree of SDG8 implementation. The added value of the study consists of comparing the dynamics of the degree of implementation of SDG8 using the DTW method. The obtained conclusions may help to create policies for EU countries in this regard.

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Section: Sustainable Development Goalsmentioning

confidence: 99%

Decent Work and Economic Growth in EU Countries—Static and Dynamic Analyses of Sustainable Development Goal 8

Bieszk-Stolorz,

Dmytrów

2023

Sustainability

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“…The findings indicate that while structurally beneficial shocks to public spending have an adverse effect on economic growth, negative economic growth ultimately has a long-term effect on average price levels and interest rates. Fatih (2021) used annual time series data and structural auto-regressive techniques to investigate the effect of shocks in government expenditure on Algeria's macroeconomic variables. The results show that exports and imports both respond positively to shocks of public expenditure, while export responses are moderate, whereas inflation responds negatively to expenditure shocks.…”

Section: Literature Reviewmentioning

confidence: 99%

How Does Economic Growth Respond to Public Infrastructure Expenditure Shocks? Evidence from SVAR in Nigeria

Badiru¹,

Ademola²,

Dambo³

2023

JES

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This paper investigates the economic growth response to public infrastructure expenditure shocks in Nigeria. Quarterly time-series data spanning 1981:Q1 to 2019:Q4, sourced from the Central Bank of Nigeria Statistical Bulletin are used in the study. The structural vector auto-regressive method following Blanchard and Perrotti’s (2002) with Augmented Dickey-Fuller, Phillips and Perron, and Kwiatkowski-Phillips-Schmidt-Shin stationarity tests are employed in the paper. The results of the stationarity tests showed that all the model’s variables namely; real gross domestic product, public infrastructure expenditure, and government revenue became stationary after their first difference. However, the study extracted and classified the variance decomposition and impulse response functions into three regimes namely; short, medium, and long-term respectively. The findings reveal that in the short term, 10.5% variations in economic growth were associated with public infrastructure expenditure shocks while in the medium term, 29.7% variations in economic growth were associated with public infrastructure expenditure shocks, and in the long term, 42.6% variations in economic growth were associated with public infrastructure expenditure shocks in Nigeria. Economic growth responses to public infrastructure expenditure shocks were positive and statistically significant in the three regimes of short, medium, and long-term respectively. The study recommends that the federal government should concentrate more on reforms and spending policies that will result in the best possible policy and ultimately high and sustainable growth in Nigeria.

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“…Research by Msomi, Olarewaju and Ngcobo [27] indicates a positive and significant correlation between access to and ability to use cash and the sustainability of small and medium-sized enterprises. In many cases, governments have been assisted by the adoption of austerity policies and expenditure rationalisation, involving the reallocation of resources from the public sphere [28]. It should be noted that the global problem forced the introduction of restrictions in all countries, albeit at varying levels.…”

Section: Literature Reviewmentioning

confidence: 99%

Changes in Share Prices of Macrosector Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

Bieszk‐Stolorz

Markowicz

2022

Sustainability

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The crisis caused by the emergence of the COVID-19 pandemic had an impact on the economic situation worldwide, including the stock exchange quotations. The aim of the research is to assess the reaction to crisis situations of share prices of companies listed on the Warsaw Stock Exchange (Poland) belonging to three main macrosectors: Industry, Finance and Services. The main part of the analysis concerns the market reaction to the COVID-19 pandemic during its first wave. The study utilises the survival analysis methods, which allowed for an assessment and comparison of the situation of the three macrosectors. The duration of the decline in share prices and the recovery time were analysed. The intensity and probability of the decline and subsequent increase in share prices were also examined. The Kaplan–Meier estimator, Cox regression model and logit model were used in the study. The pandemic shocks differed significantly from shocks caused by economic crises in the past. We showed that the differences for macro-sector share price declines were statistically insignificant. For price increases, the Finance macrosector differed from the other macrosectors. The probability, intensity and odds of an increase in share prices of companies belonging to this macrosector were lower than for the other macrosectors. In addition, we compared the obtained results with the results of previous studies conducted for the period of the financial crisis in 2008–2009 and the bear market in 2011. We pointed out the differences between the crisis caused by the pandemic and the other crises.

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What Can SVAR Models Tell us About the Impact of Public Expenditure Shocks on Macroeconomic Variables in Algeria? A Slight Hint to the COVID-19 Pandemic

Cited by 6 publications

References 21 publications

Decent Work and Economic Growth in EU Countries—Static and Dynamic Analyses of Sustainable Development Goal 8

Decent Work and Economic Growth in EU Countries—Static and Dynamic Analyses of Sustainable Development Goal 8

How Does Economic Growth Respond to Public Infrastructure Expenditure Shocks? Evidence from SVAR in Nigeria

Changes in Share Prices of Macrosector Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

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