PLACING EASTERN AND SOUTHERN AFRICA UNDER THE LENS TO IDENTIFY THE DETERMINANTS OF MONETARY AND FISCAL POLICY

Öz

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.

Anahtar Kelimeler

• Monetary Policy
• Fiscal Policy
• Economic Development
• Eastern and Southern Africa

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

Öz

Hem dünyanın en hızlı gelişen pazarlarından bazılarına hem de en yoksullarından bazılarına ev sahipliği yapmasına rağmen. Doğu ve Güney Afrika bölgesi, hem ulusal hem de uluslararası düzeyde fark edilir derecede çeşitli ekonomik gelişme seviyeleri sergilemektedir. Bölge, ekonomistler ve politika yapıcılardan hiçbir zaman yeterince ilgi görmedi. Sonuç olarak, mevcut çalışma, 1990'dan 2020'ye kadar olan dönemde para ve maliye politikasının belirleyicilerini araştırmak için Doğu ve Güney Afrika ülkelerini mikroskop altına yerleştirdi. Ayrıca ampirik bulgulara devam etmek için kantil regresyon ve genelleştirilmiş doğrusal model gerçekleştirilmiştir. Çalışmanın bulguları, vergi geliri ve ihracat gibi unsurların para politikası üzerinde önemli bir etkiye sahip olduğunu, faiz oranları, işgücü, ihracat, ithalat ve vergi geliri ise maliye politikası üzerinde önemli bir etkiye sahip olduğunu göstermektedir. Sonuç olarak, Doğu ve Güney Afrika'da sadece ihracat ve vergi gelirlerinden etkilenen para politikasının aksine makro-mikroekonomik faktörlerin maliye politikasını etkilediğini vurgulamak önemlidir. Çalışma, ekonomik kalkınma alanındaki ampirik araştırmaları ilerletmekte ve karar vericilere ve Afrika topluluğuna, ulusal ihtiyaçlara uygun olarak para ve maliye politikasının nasıl yönetileceği hakkında bilgi sunmaktadır.

Anahtar Kelimeler

• Para Politikası
• Maliye Politikası
• Ekonomik Kalkınma
• Doğu ve Güney Afrika

Kaynakça

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