Cyclicality of Revenue and Structural Balances in South Africa
AbstractThis paper applies a disaggregated method for the calculation of the cyclical component of the budget balance for South Africa with an emphasis on the effect of commodity and asset prices, and credit cycle. Results show that the cyclicality of tax revenue is mostly explained by the variations in tax bases. Change in the credit to private sector also has some affect on the revenue performance; however, asset and commodity prices are not significant in explaining the deviation of revenue from its trend. Nonetheless, quantitative effects of these prices are subject to assumptions used for long-run price levels.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/216.
Date of creation: 01 Sep 2010
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- Charl Jooste & Ruthira Naraidoo, 2010. "Nonlinear Tax Elasticities And Their Implications For The Structural Budget Balance," Working Papers 201022, University of Pretoria, Department of Economics.
- Kai Liu, 2014. "Public Finances, Business Cycles and Structural Fiscal Balances," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 1411, Faculty of Economics, University of Cambridge.
- Tigran Poghosyan, 2011. "Assessing the Variability of Tax Elasticities in Lithuania," IMF Working Papers 11/270, International Monetary Fund.
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