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Soutenabilité des finances publiques au Cameroun : Approche de Bohn (1998)
[Testing Fiscal sustainability in Cameroon : Approach of Bohn (1998)]

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  • Ngwa Edielle, T. H. Jackson
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    Abstract

    In this paper, we test sustainability of Cameroon’s fiscal policy using the approach developed by Bohn (1998). We apply non parametric and semi-parametric regressions with time depending coefficients to estimate fiscal policy reaction function in Cameroon between 1975 and 2005. We find out that the response of primary surplus to GDP is a concave positive function of the debt-GDP ratio. Further, our estimates show that fiscal policy reaction coefficient has been significantly positive between 1975 and 2005. However, there is a negative trend in that coefficient which becomes positive after the year 1993.

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    File URL: http://mpra.ub.uni-muenchen.de/9738/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9738.

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    Date of creation: Dec 2006
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    Handle: RePEc:pra:mprapa:9738

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    1. Trehan, Bharat & Walsh, Carl E, 1991. "Testing Intertemporal Budget Constraints: Theory and Applications to U.S. Federal Budget and Current Account Deficits," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(2), pages 206-23, May.
    2. Pagan,Adrian & Ullah,Aman, 1999. "Nonparametric Econometrics," Cambridge Books, Cambridge University Press, number 9780521586115, October.
    3. Marcet, Albert & Ravn, Morten O., 2004. "The HP-Filter in Cross-Country Comparisons," CEPR Discussion Papers 4244, C.E.P.R. Discussion Papers.
    4. Bohn, Henning, 1995. "The Sustainability of Budget Deficits in a Stochastic Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 257-71, February.
    5. Matthew B. Canzoneri & Robert E. Cumby & Behzad T. Diba, 2001. "Is the Price Level Determined by the Needs of Fiscal Solvency?," American Economic Review, American Economic Association, vol. 91(5), pages 1221-1238, December.
    6. Alfred Greiner & Uwe Koeller & Willi Semmler, 2005. "Testing Sustainability of German Fiscal Policy. Evidence for the Period 1960 – 2003," CESifo Working Paper Series 1386, CESifo Group Munich.
    7. Bharat Trehan & Carl E. Walsh, 1987. "Common trends, the government's budget constraint, and revenue smoothing," Working Papers in Applied Economic Theory 87-11, Federal Reserve Bank of San Francisco.
    8. Henning Bohn, 1998. "The Behavior Of U.S. Public Debt And Deficits," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 949-963, August.
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