01849cas a2200253 a 4500 AALejournalIMF016972 230101c9999 xx r poo 0 0eng d 20.00 USD 9781513563541 2616-5333 BD-DhAAL BD-DhAAL Konuki, Tetsuya. Cyclical Behavior of Fiscal Policy among Sub-Saharan African Countries / Tetsuya Konuki, Mauricio Villafuerte. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (39 pages) Departmental Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Excessively procyclical fiscal policy can be harmful. This paper investigates to what extent the fiscal policies of sub-Saharan African countries were procyclical in recent years and the reasons for the degree of fiscal procyclicality among these countries. It finds that a tendency for procyclical fiscal policy was particularly pronounced among oil exporters and after the global financial crisis. It also finds a statistically significant causal link running from deeper financial markets and higher reserves coverage to lower fiscal policy procyclicality. Fiscal rules supported by strong political commitment and institutions seem to be key to facilitating progress for deeper financial markets and stronger reserves coverage. Mode of access: Internet Villafuerte, Mauricio. Departmental Papers; Departmental Paper ; No. 2016/009 Full text available on IMF http://elibrary.imf.org/view/journals/087/2016/009/087.2016.issue-009-en.xml IMF e-Library