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Coricelli, F. and Ercolani, V. (2002) Cyclical and Structural Deficits on the Road to Accession: Fiscal Rules for an Enlarged European Union. CEPR Discussion Paper No. 3672. http://www.cepr.org/pubs/dps/DP3672.asp

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• TITLE: Fiscal Policy and Economic Cycles in Congo

  AUTHORS: Antoine Ngakosso

  KEYWORDS: Fiscal Policy, Economy Cycles, Fiscal Rule, Debt Instability, Congo

  JOURNAL NAME: Modern Economy, Vol.9 No.1, January 18, 2018

  ABSTRACT: The purpose of this paper is to respond on discretionary fiscal policy on economic cycles in Congo. A fiscal reaction function developed by Huart was thus estimated over the 1989-2015 period. It comes out from the results that the fiscal policies carried out during this period were both counter-cyclical and pro-cyclical expansionist. This resulted in instability of the public debt and an accumulation of payment arrears.