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Fiscal policy, sustainable development and economic growth in Sub-Saharan Africa

Author

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  • Akwasi Sarpong

    (London South Bank University, United Kingdom)

Abstract

This study aims to examine the impact of fiscal policy on sustainable development in Sub-Saharan Africa. Fiscal policy, economic growth, sustainable development, and its determinants have come under scrutiny in Sub-Saharan Africa over the years due to the delicate nature of the concepts to the region’s development. This study sought to examine the impact of fiscal policy on sustainable development. The study used causal research design and quantitative approach, the population comprised of 34 countries in Sub-Saharan Africa, 21 years of panel data was utilized by the study sourced from theworld databank. There are four macroeconomic variables used, which are global uncertainty, fiscal policy, sustainable development, and economic growth. Government expenditure, government revenue, inflation, foreign direct investment, and external debt is used to represent fiscal policy. Gross domestic product is also used to represent economic growth. In assessing sustainable development, sustainable development goal index was used to measure. Data analysis technique used Feasible Generalized Least Square method through fixed and random estimations. Findings showed a negative association between fiscal policy and economic growth. Notwithstanding, the study found positive relationship between fiscal policy and sustainable development. Finally, there was a negative relationship between world uncertainties and sustainable development. The study implies that government should implement measures to reduce its borrowing to minimize its adverse impact on economic growth. It is recommended that Governments and policy makers should pay close attention to fiscal policy variables as it has a negative impact on economic growth. All efforts should be made to ensure that a balance will be reach in terms of fiscal policy to ensure economic growth. The novelty of the study is that it has unveiled the relationship between world uncertainties and sustainable development

Suggested Citation

  • Akwasi Sarpong, "undated". "Fiscal policy, sustainable development and economic growth in Sub-Saharan Africa," Review of Socio - Economic Perspectives 202365, Reviewsep.
    • Handle: RePEc:aly:journl:202365
    DOI: 10.2478/rsep-2025-0018
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    Keywords

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    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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