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Cyclicality of Revenue and Structural Balances in South Africa

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  • Burcu Aydin

Abstract

This paper applies a disaggregated method for the calculation of the cyclical component of the budget balance for South Africa with an emphasis on the effect of commodity and asset prices, and credit cycle. Results show that the cyclicality of tax revenue is mostly explained by the variations in tax bases. Change in the credit to private sector also has some affect on the revenue performance; however, asset and commodity prices are not significant in explaining the deviation of revenue from its trend. Nonetheless, quantitative effects of these prices are subject to assumptions used for long-run price levels.

Suggested Citation

  • Burcu Aydin, 2010. "Cyclicality of Revenue and Structural Balances in South Africa," IMF Working Papers 2010/216, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2010/216
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    References listed on IDEAS

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    1. Charl Jooste & Ruthira Naraidoo, 2010. "Nonlinear Tax Elasticities And Their Implications For The Structural Budget Balance," Working Papers 201022, University of Pretoria, Department of Economics.
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    Cited by:

    1. International Monetary Fund, 2011. "Republic of Lithuania: Selected Issues Paper," IMF Staff Country Reports 2011/327, International Monetary Fund.
    2. Mr. Tigran Poghosyan, 2011. "Assessing the Variability of Tax Elasticities in Lithuania," IMF Working Papers 2011/270, International Monetary Fund.
    3. Kai Liu, 2014. "Public Finances, Business Cycles and Structural Fiscal Balances," Cambridge Working Papers in Economics 1411, Faculty of Economics, University of Cambridge.
    4. Ismoil Khujamkulov, "undated". "Tax revenues in transition countries: Structural changes and their policy implications," WIDER Working Paper Series 180, World Institute for Development Economic Research (UNU-WIDER).
    5. Eugene Msizi BUTHELEZI, 2023. "Impact of Fiscal Consolidation on Government Debt in South Africa: Evidence to Structural and Cyclical Effect," Journal of Economics and Financial Analysis, Tripal Publishing House, vol. 7(2), pages 1-23.

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    1. Burcu Aydin, 2010. "Performance of Fiscal Accounts in South Africa in a Cross-Country Setting," IMF Working Papers 2010/217, International Monetary Fund.
    2. Charl Jooste & Marina Marinkov, 2012. "South Africa'S Transition To A Consolidated Budget," South African Journal of Economics, Economic Society of South Africa, vol. 80(2), pages 181-199, June.

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