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Sustainability of the Fiscal Imbalance and Public Debt Under Fiscal Policy Asymmetries in Opec

Author

Listed:
  • Zahra Farajzade

    (PhD student, Department of Economics, University of Mazandaran, Mazandaran, Iran. z.farajzadeh02@umail.umz.ac.ir)

  • Ahmad Jafari Samimi

    (Professor, Department of Theoretical Economics, University of Mazandaran, Mazandaran, Iran)

  • Shahryar Zaroki

    (Associate Professor, Department of Energy Economics University of Mazandaran, Mazandaran, Iran)

  • Mani Motameni

    (Associate Professor, Department of Energy Economics University of Mazandaran, Mazandaran, Iran)

Abstract

Considering that fiscal imbalance is one of the basic problems of governments in most countries faced by governments in most countries, today, the international Society places significant importance on the fiscal imbalances of countries, and a low level has become one of the important indicators of public finance health. Since there is an expectation of asymmetry in the budget adjustment process, this article aimed to investigate the sustainability of fiscal imbalance and public debt in the conditions of asymmetric fiscal policy in OPEC during the annual period of 2002-2021. In this regard, testing for fiscal imbalance and public debt sustainability is used to estimate the symmetric Panel ARDL and asymmetric Panel NARDL. The results indicate that the fiscal imbalance and public debt are on the path of weak sustainability. The analysis of asymmetric coefficients with the estimation of the Fiscal reaction function shows that the Fiscal policy stance is procyclical, with strong stabilization Tendencies in economic booms and an unstable state in recessions. Against upsurges in the debt-to-GDP ratio, authorities have been found to pursue fiscal integration, so this situation shows a weak form of sustainability

Suggested Citation

  • Zahra Farajzade & Ahmad Jafari Samimi & Shahryar Zaroki & Mani Motameni, 2025. "Sustainability of the Fiscal Imbalance and Public Debt Under Fiscal Policy Asymmetries in Opec," Quarterly Journal of Applied Theories of Economics, Faculty of Economics, Management and Business, University of Tabriz, vol. 12(1), pages 1-24.
    • Handle: RePEc:ris:qjatoe:021661
    DOI: 10.22034/ecoj.2024.61800.3315
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    Keywords

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    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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