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General & Applied Economics

Public debts, fiscal balance and sustainability: What can African governments learn from debt sustainability models?

ORCID Icon, &
Article: 2235827 | Received 15 Feb 2023, Accepted 08 Jul 2023, Published online: 14 Jul 2023

Figures & data

Table 1. Indicators of fiscal performance developed Vs. developing countries

Table 2. Descriptive statistics

Table 3. Fisher panel unit root test

Table 4. FRF of the Primary Balance (PB) on debt and output gap

Table 5. QR of the fiscal reaction functions on the primary balance

Table 6. IVQR of the fiscal reaction function on the primary balance

Table 7. VAR Selection Order Criteria (SOC)

Table 8. Granger causality/block exogeneity test

Figure 1. Stability test of the VAR model.

Figure 1. Stability test of the VAR model.

Figure 2. Combined effects of one standard deviation shock on each variable.

Figure 2. Combined effects of one standard deviation shock on each variable.

Figure 3. Cumulative responses to one SD innovations of the variables.

Figure 3. Cumulative responses to one SD innovations of the variables.