Fiscal Policies and Economic Recovery from Financial Crises and Pandemic Crises of Selected African Countries (Published)
Fiscal policies play a pivotal role in navigating economic recovery, particularly amidst financial and pandemic crises in African countries. This study evaluates the influence of the unemployment rate, government expenditure, and government capital expenditure on economic recovery in selected African nations. The objectives include assessing the significance of these factors in the context of crises and testing hypotheses regarding their relationships with economic recovery. Drawing from the Keynesian economic theory and Structural Adjustment Theory, the study provides a theoretical framework for understanding the efficacy of fiscal interventions. Using a deductive approach and multiple regression analysis, data from ten African countries spanning from 1981 to 2023 are analyzed. The findings underscore the critical role of the unemployment rate and government capital expenditure in driving economic recovery, while general government expenditure shows minimal direct impact. Policymakers are urged to focus on targeted investments in capital projects and initiatives to address unemployment rates, thereby fostering sustainable economic growth and resilience.
Keywords: Economic Recovery., Financial Crises, Fiscal Policies, Government Expenditure, government capital expenditure, non-tax revenue, taxation, unemployment rate