Zenabu Mustapha, Paul Owusu Takyi, Raphael Edem Ayibor, Frank Adusah-Poku
{"title":"财政冲击对加纳经济增长和收入不平等的影响:是否存在权衡?","authors":"Zenabu Mustapha, Paul Owusu Takyi, Raphael Edem Ayibor, Frank Adusah-Poku","doi":"10.1108/ajems-04-2023-0133","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>The study examines the impact of fiscal policy shocks on economic growth and income inequality in Ghana. This has become necessary because of the interdependence between growth and income inequality and the role fiscal policy plays in this relationship in the development process of a country. Thus, a study that investigates how government expenditure shock and tax revenue shock influence the relationship between economic growth and income inequality could assist policymakers to adopt the best policy mix to ensure income equity and sustained economic growth in Ghana.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>It employs sacrifice ratio from structural VAR model using quarterly time series data from 1996 to 2019 on Ghana.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>Our results show that government expenditure shock impacts economic growth, exchange rate and education positively and significantly in the long run. Also, tax revenue shock has a positive impact on income inequality, economic growth and education. The findings further show that there exists a trade-off between economic growth and income inequality in the long run.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>The relationships between fiscal policy shocks, economic growth and income inequality have been extensively discussed among scholars. Understanding how these three macroeconomic variables are determined and their interrelationships are crucial for policymakers. This is because fiscal policy aids in both economic growth and income inequality. In the empirical literature, the emphasis has been on independently estimating the growth effects of fiscal policy or the distribution effects of fiscal policy, leaving out the existence of possible trade-off between economic growth and income inequality following a fiscal shock. To the best of our knowledge, no empirical study has been done on Ghana to empirically examine the trade-off between economic growth and income inequality as we do in this paper.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":"12 1","pages":""},"PeriodicalIF":1.4000,"publicationDate":"2024-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The impact of fiscal shocks on economic growth and income inequality in Ghana: is there a trade-off?\",\"authors\":\"Zenabu Mustapha, Paul Owusu Takyi, Raphael Edem Ayibor, Frank Adusah-Poku\",\"doi\":\"10.1108/ajems-04-2023-0133\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<h3>Purpose</h3>\\n<p>The study examines the impact of fiscal policy shocks on economic growth and income inequality in Ghana. This has become necessary because of the interdependence between growth and income inequality and the role fiscal policy plays in this relationship in the development process of a country. Thus, a study that investigates how government expenditure shock and tax revenue shock influence the relationship between economic growth and income inequality could assist policymakers to adopt the best policy mix to ensure income equity and sustained economic growth in Ghana.</p><!--/ Abstract__block -->\\n<h3>Design/methodology/approach</h3>\\n<p>It employs sacrifice ratio from structural VAR model using quarterly time series data from 1996 to 2019 on Ghana.</p><!--/ Abstract__block -->\\n<h3>Findings</h3>\\n<p>Our results show that government expenditure shock impacts economic growth, exchange rate and education positively and significantly in the long run. Also, tax revenue shock has a positive impact on income inequality, economic growth and education. The findings further show that there exists a trade-off between economic growth and income inequality in the long run.</p><!--/ Abstract__block -->\\n<h3>Originality/value</h3>\\n<p>The relationships between fiscal policy shocks, economic growth and income inequality have been extensively discussed among scholars. Understanding how these three macroeconomic variables are determined and their interrelationships are crucial for policymakers. This is because fiscal policy aids in both economic growth and income inequality. In the empirical literature, the emphasis has been on independently estimating the growth effects of fiscal policy or the distribution effects of fiscal policy, leaving out the existence of possible trade-off between economic growth and income inequality following a fiscal shock. 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The impact of fiscal shocks on economic growth and income inequality in Ghana: is there a trade-off?
Purpose
The study examines the impact of fiscal policy shocks on economic growth and income inequality in Ghana. This has become necessary because of the interdependence between growth and income inequality and the role fiscal policy plays in this relationship in the development process of a country. Thus, a study that investigates how government expenditure shock and tax revenue shock influence the relationship between economic growth and income inequality could assist policymakers to adopt the best policy mix to ensure income equity and sustained economic growth in Ghana.
Design/methodology/approach
It employs sacrifice ratio from structural VAR model using quarterly time series data from 1996 to 2019 on Ghana.
Findings
Our results show that government expenditure shock impacts economic growth, exchange rate and education positively and significantly in the long run. Also, tax revenue shock has a positive impact on income inequality, economic growth and education. The findings further show that there exists a trade-off between economic growth and income inequality in the long run.
Originality/value
The relationships between fiscal policy shocks, economic growth and income inequality have been extensively discussed among scholars. Understanding how these three macroeconomic variables are determined and their interrelationships are crucial for policymakers. This is because fiscal policy aids in both economic growth and income inequality. In the empirical literature, the emphasis has been on independently estimating the growth effects of fiscal policy or the distribution effects of fiscal policy, leaving out the existence of possible trade-off between economic growth and income inequality following a fiscal shock. To the best of our knowledge, no empirical study has been done on Ghana to empirically examine the trade-off between economic growth and income inequality as we do in this paper.
期刊介绍:
African Journal of Economic and Management Studies (AJEMS) advances both theoretical and empirical research, informs policies and practices, and improves understanding of how economic and business decisions shape the lives of Africans. AJEMS is a multidisciplinary journal and welcomes papers from all the major disciplines in economics, business and management studies.