000			01784nam a22001577a 4500
999			_c521948 _d521948
008			230306b ||||| |||| 00| 0 eng d
100			_aKunawotor, M.E., Bokpin G.A. and Amoateng, K.A. _938200
245			_aThe implications of climate change and extreme weather events for fiscal balance and fiscal policy in Africa
260			_aJournal of Social and Economic Development
300			_a24(2), Dec, 2022: p. 470-492
520			_aAfrican countries quite often experience weather-related events as a result of climate variabilities. In this study, we investigate the effects of climate change and the incidence of extreme weather events on fiscal balance and the broad implications for fiscal policy formulation in Africa. We employ the system GMM, fixed-effects and random-effects estimation strategies over the period 1990–2017. We find that increases in temperature change anomaly which implies a warmer climate in a meteorological year worsens fiscal balance in Africa. Our findings also reveal that weather-related events may have a significant impact on fiscal balance, if the damage caused is large and consequential. Furthermore, African countries with relatively strong institutions and adaptive capacities tend to modulate the impact of temperature change anomaly and extreme weather events on fiscal balance. We forecast that the frequent incidence of climatic disruptions and extreme weather events which are considered as external shocks may toughen the fiscal consolidation efforts and debt sustainability measures of some African governments. – Reproduced
650			_aClimate change, Extreme weather events, Fiscal balance, Institutions, Africa. _936544
773			_aJournal of Social and Economic Development
906			_aCLIMATE CHANGE
942			_cAR