PARA VE MALİYE POLİTİKASININ BELİRLEYİCİLERİNİ BELİRLEMEK İÇİN DOĞU VE GÜNEY AFRİKA'NIN MERCİ ALTINA YERLEŞTİRİLMESİ

Abstract

Despite being home to both some of the world's fastest emerging markets and a number of the poorest. The East and Southern Africa region exhibits noticeably a variety of levels of economic development either nationally or internationally. The region never attracted enough attention from the economist and policymakers. As a result, the current study placed Eastern and Southern African nations under the microscope to explore the determinants of monetary and fiscal policy during the period from 1990 to 2020. In addition, to carry on with the empirical findings a quantile regression and generalized linear model were performed. The study's findings indicate that elements like tax revenue and exportation have a significant impact on monetary policy, whereas interest rates, the labor force, exports, imports, and tax revenue have a significant impact on fiscal policy. In conclusion, it is important to highlight that in Eastern and Southern Africa, macromicroeconomic factors appear to be affecting fiscal policy in contrast with the monetary policy, which is only influenced by exportation and tax revenue. The study advances empirical research in the field of economic development and offers information to decision-makers and the African community about how to manage monetary and fiscal policy in accordance with national needs.