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When are fiscal deficits inflationary in low-income countries?

Author

Listed:
  • Michael Bleaney
  • Atsuyoshi Morozumi
  • Zakari Mumuni

Abstract

Previous research has found that the relationship between fiscal deficits and inflation is conditional on income levels: deficits tend to be inflationary in developing countries but not in advanced economies. We show that within low-income countries (LICs) the relationship is again conditional: only when relatively poor institutions fail to hold governments accountable to the general public are fiscal deficits inflationary in LICs.

Suggested Citation

  • Michael Bleaney & Atsuyoshi Morozumi & Zakari Mumuni, 2020. "When are fiscal deficits inflationary in low-income countries?," Discussion Papers 2020-02, University of Nottingham, CREDIT.
    • Handle: RePEc:not:notcre:20/02
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    File URL: https://www.nottingham.ac.uk/credit/documents/papers/2020/20-02.pdf
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    Keywords

    Fiscal deficits; Inflation; Government accountability;
    All these keywords.

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