Advanced Search
MyIDEAS: Login to save this paper or follow this series

Budgetary Convergence in the WEAMU

Contents:

Author Info

  • Jean-Claude Nachega
  • Ousmane Dore
Registered author(s):

    Abstract

    A regional convergence pact adopted recently by the Conference of Heads of States of WAEMU provides a framework for fiscal convergence similar to the European Union’s Maastricht Treaty. Using bivariate co-integration and error-correction models, this paper investigates the relationship between revenue and expenditure in seven member countries to determine the feasibility and nature of the policy adjustment required to meet the new convergence criteria. The results indicate that, in the long run, there is causality running from revenue to expenditure in Burkina Faso and Senegal, from expenditure to revenue in Benin and Togo, a bidirectional causality in Côte d’Ivoire and Mali, and no causality in Niger.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=3637
    Download Restriction: no

    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 00/109.

    as in new window
    Length: 31
    Date of creation: 01 Jun 2000
    Date of revision:
    Handle: RePEc:imf:imfwpa:00/109

    Contact details of provider:
    Postal: International Monetary Fund, Washington, DC USA
    Phone: (202) 623-7000
    Fax: (202) 623-4661
    Email:
    Web page: http://www.imf.org/external/pubind.htm
    More information through EDIRC

    Order Information:
    Web: http://www.imf.org/external/pubs/pubs/ord_info.htm

    Related research

    Keywords: Fiscal management; West African Economic and Monetary Union; Government expenditures; expenditure; fiscal policy; expenditures; public debt; budget deficit; government revenue; government spending; fiscal adjustment; fiscal variables; government expenditure; fiscal imbalances; fiscal balance; tax revenue; fiscal data; fiscal discipline; public expenditure; fiscal performance; budget deficits; public finance; fiscal positions; public finances; fiscal deficit; budget constraint; taxation; fiscal policies; budgetary adjustment; budget imbalances; spending cuts; public spending; fiscal indicators; budgetary process; fiscal revenue; fiscal imbalance; expenditure increases; fiscal responsibility; government deficit; fiscal position; debt service; fiscal decisions; fiscal outcomes; fiscal difficulties; fiscal surplus; tax increases; fiscal authorities; budgetary rules; higher expenditure; fiscal equilibrium; fiscal illusion; expenditure objectives; debt obligations; fiscal convergence; primary fiscal balance; total expenditure; expenditure decisions; fiscal consolidation; expansionary fiscal; fiscal criterion; primary fiscal deficit; budget balance; public external debt; fiscal institutions; budgetary discipline; federal government expenditures; foreign debt; current level of debt; budget expenditures; expansionary fiscal policies; expenditure data; government budget; tax increase; fiscal instrument; cuts in government spending;

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Ram, Rati, 1988. "A Multicountry Perspective on Causality between Government Revenue and Government Expenditure," Public Finance = Finances publiques, , vol. 43(2), pages 261-70.
    2. Paul R. Blackley, 1986. "Causality Between Revenues and Expenditures and the Size of the Federal Budget," Public Finance Review, , vol. 14(2), pages 139-156, April.
    3. Robert J. Barro, 1988. "The Ricardian Approach to Budget Deficits," Working Papers 728, Queen's University, Department of Economics.
    4. Henning Bohn, . "Budget Balance Through Revenue or Spending Adjustments ? Some Historical Evidence for the United States (Reprint 013)," Rodney L. White Center for Financial Research Working Papers 3-91, Wharton School Rodney L. White Center for Financial Research.
    5. Bohn, H., 1991. "Budget Balance Through Revenue or Spending Adjustments? Some Historical Evidence for the United States," Weiss Center Working Papers 3-91, Wharton School - Weiss Center for International Financial Research.
    6. Jones, Jonathan D. & Joulfaian, David, 1991. "Federal govemment expenditures and revenues in the early years of the American republic: Evidence from 1792 to 1860," Journal of Macroeconomics, Elsevier, vol. 13(1), pages 133-155.
    7. Alan T. Peacock & Jack Wiseman, 1961. "The Growth of Public Expenditure in the United Kingdom," NBER Books, National Bureau of Economic Research, Inc, number peac61-1, June.
    8. Granger, C. W. J., 1988. "Some recent development in a concept of causality," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 199-211.
    9. Fischer, Andreas M., 1989. "Policy regime changes and monetary expectations : Testing for super exogeneity," Journal of Monetary Economics, Elsevier, vol. 24(3), pages 423-436, November.
    10. Gerard Antioch, 1998. "Fiscal policy dynamics in Australia and New Zealand," Applied Economics Letters, Taylor & Francis Journals, vol. 5(9), pages 539-541.
    11. Joulfaian, David & Mookerjee, Rajen, 1990. "The Intertemporal Relationship between State and Local Government Revenues and Expenditures: Evidence from OECD Countries," Public Finance = Finances publiques, , vol. 45(1), pages 109-17.
    12. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November.
    13. repec:fth:eeccco:96 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Magazzino, Cosimo, 2010. "Public expenditure and revenue in Italy, 1862-1993," MPRA Paper 27308, University Library of Munich, Germany.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:00/109. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.