Description
Title: South Africa’s fiscal policy and economic expansion
Abstract: Since 1994, South Africa has implemented a number of fiscal policy initiatives with the goal of accelerating economic growth, including the Reconstruction and Development Programme (RDP), Growth Employment and Redistribution (GEAR), Broad-Black Economic Empowerment strategy (BEE), AsgiSA (Accelerated and Shared Growth Initiative for South Africa), and the New Growth Path framework (NGP). The nation’s rate of economic growth over the years, though, is unconvincing. Additionally, it is crucial to remember that poverty is still pervasive and persistent, especially in the impoverished regions of provinces like the Eastern Cape, Limpopo, North West, and Mpumalanga. As a result, the study’s primary objective was to investigate the impact of fiscal policy instruments on economic growth in South Africa for the years 1988 to 2018, using the autoregressive distributed lag model, primarily due to the order of integration of the variables. The empirical findings demonstrated a favorable relationship between the fiscal policy instruments. (Public sector spending, consumer spending, and taxes) and economic expansion. The study suggests that the government should differentiate between productive and unproductive spending and increase spending on productive sectors based on the findings. These findings suggest that if more money is diverted from government consumption to investment spending, South Africa’s economy will probably perform better.
Keywords: fiscal policy; economic growth; ARDL; South Africa
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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