After the analysis during 2000-2016 the model equations are: (292) D(t)=C(t)+G(t)+I(t)+EX(t)-IM(t)
(293) C(t)=0.8443DI(t)+133445159 (294) G(t)=0.3474TI(t)+147262894
(295) TI(t)=TR(t)+OR(t) (296) OR(t)=0.0203Y(t)-23244280 (297) I(t)=0.3143Y(t)-6385451r(t)-302626676 (298) DI(t)=Y(t)+TF(t)-TR(t) (299) TF(t)=0.1589Y(t)-301093618 (300) TR(t)=0.0910Y(t)-8715004 (301) IM(t)=0.8422Y(t)-1018971754 (302) EX(t)=0.6540Y(t)-961112540 (303) D(t)=Y(t) (304) MD(t)=0.2453Y(t)-1133645r(t)-164028047 (305) MS(t)=40813703t-81521761265 (306) MD(t)=MS(t)
Solving the equations (1)-(15) we find that at equilibrium (“t” being the year): (307) Y(t)=174766366.61t-348546765089.33 (308) r(t)=1.8157t-3655.9916 (309) TI(t)=19450017.92t-38822265210.28 (310) G(t)=6756314.65t-13338351377.97 (311) DI(t)=186631238.93t-372501951057.21 (312) C(t)=157579761.91t-314383937325.64 (313) OR(t)=3542231.56t-7087723430.14 (314) TR(t)=15907786.35t-31734541780.14 (315) TF(t)=27772658.67t-55689727748.02 (316) I(t)=43326137.70t-86488444522.84 (317) IM(t)=147195527.14t-294579602529.36 (318) EX(t)=114299679.49t-228915634392.26 (319) MD(t)=MS(t)=40813703.50t-81521761264.96
From the relationships (16)-(28) we can draw the following conclusions:
The analysis of “Actual final consumption of households” emphasizes that in 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2011, 2012, 2013, 2016 is above
the equilibrium value and in 2010, 2014, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Actual final consumption of households” emphasizes that in 2009, 2011, 2012, 2013 is above the equilibrium value and in 2010 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of households” was registered in 2002 (139.67%) and the minimum in 2010 (84.80%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 85.37-97.93%.
The analysis of “Actual final consumption of the government” emphasizes that in 2000, 2002, 2003, 2009, 2010, 2011, 2012, 2013 is above the equilibrium value and in 2001, 2004, 2005, 2006, 2007, 2008, 2014 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in 2009, 2010, 2011, 2012 is above the equilibrium value and in 2008 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of the government” was registered in 2012 (122.65%) and the minimum in 2014 (78.56%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 7.27-14.50%.
The analysis of “Other revenues” emphasizes that in 2001, 2002, 2003, 2004, 2011, 2012, 2013, 2014 is above the equilibrium value and in 2000, 2005, 2006, 2007, 2008, 2009, 2010 is below the equilibrium value. During the financial crisis (2008- 2012), the behavior of “Other revenues” emphasizes that in 2011, 2012 is above the equilibrium value and in 2008, 2009, 2010 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Other revenues” was registered in 2001 (3214.98%) and the minimum in 2000 (-543.77%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.53-1.84%.
The analysis of “Investment” emphasizes that in 2010, 2011, 2012 is above the equilibrium value and in 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2013, 2014, 2015, 2016 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Investment” emphasizes that in 2010, 2011, 2012 is above the equilibrium value and in 2009, 2013 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Investment” was registered in 2011 (178.45%) and the minimum in 2008 (43.25%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 28.01-41.67%.
The analysis of “Government transfers” emphasizes that in 2000, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 is above the equilibrium value and in 2001, 2002, 2003, 2004, 2005, 2015, 2016 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Government transfers” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Government transfers” was registered in 2000 (862.61%) and the minimum in 2005 (-2082.84%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between -96.75-15.98%.
The analysis of “Tax revenue” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2012, 2013, 2014 is above the equilibrium value and in 2006, 2007, 2008, 2009, 2010, 2011 is below the equilibrium value. During the financial crisis (2008- 2012), the behavior of “Tax revenue” emphasizes that in 2012 is above the equilibrium value and in 2008, 2009, 2010, 2011 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Tax revenue” was registered in 2000 (173.86%) and the minimum in 2009 (91.83%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 7.11- 10.94%.
The analysis of “Broad money” emphasizes that in 2000, 2001, 2002, 2003, 2013, 2014, 2016 is above the equilibrium value and in 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Broad money” emphasizes that in 2008, 2009, 2010, 2011, 2012 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Broad money” was registered in 2000 (201.34%) and the minimum in 2006 (85.77%).
The analysis of “Exports” emphasizes that in 2003, 2004, 2005, 2006, 2012, 2013, 2014 is above the equilibrium value and in 2000, 2001, 2002, 2007, 2008, 2009, 2010, 2011, 2015, 2016 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Exports” emphasizes that in 2012 is above the equilibrium value and in 2008, 2009, 2010, 2011 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Exports” was registered in 2003 (1168.76%) and the minimum in 2002 (-221.68%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 16.44-72.39%.
The analysis of “Imports” emphasizes that in 2002, 2003, 2004, 2011, 2012, 2013, 2014, 2016 is above the equilibrium value and in 2000, 2001, 2005, 2006, 2007, 2008, 2009, 2010, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Imports” emphasizes that in 2011, 2012 is above the equilibrium value and in 2008, 2009, 2010 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Imports” was registered in 2002 (449.72%) and the minimum in 2001 (-941.71%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 26.41-67.64%.
The analysis of “Trade balance” emphasizes that in 2000, 2001, 2002, 2003, 2010, 2011, 2012, 2013, 2015, 2016 is above the equilibrium value and in 2004, 2005, 2006, 2007, 2008, 2009, 2014 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Trade balance” emphasizes that in 2010, 2011, 2012 is above the equilibrium value and in 2008, 2009 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Trade balance” was registered in 2011 (268.87%) and the minimum in 2014 (-25.62%).
The analysis of “Output” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013 is above the equilibrium value and in 2014, 2015 is below the equilibrium value. During the financial crisis (2008- 2012), the behavior of “Output” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Output” was registered in 2001 (140.07%) and the minimum in 2014 (92.34%). The analysis of “Real interest rate (%)” emphasizes that in 2000, 2015 is above the equilibrium value and in 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2011, 2012, 2013, 2014 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Real interest rate (%)” emphasizes that in 2008, 2009, 2011, 2012 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Real interest rate (%)” was registered in 2015 (420.51%) and the minimum in 2013 (-1855.58%).
Figure 3.10.1
Figure 3.10.3
Figure 3.10.5
Figure 3.10.7
Figure 3.10.9
Figure 3.10.11
Figure 3.10.13 3.11. South Sudan
After the analysis during 2008-2015 the model equations are: (320) D(t)=C(t)+G(t)+I(t)+EX(t)-IM(t) (321) C(t)=-0.4063DI(t)+10624396499 (322) G(t)=-0.4063TI(t)+10624396499 (323) TI(t)=TR(t)+OR(t) (324) OR(t)=-0.4063Y(t)+10624396499 (325) I(t)=0.1107Y(t)-3405242r(t)+54333374 (326) DI(t)=Y(t)+TF(t)-TR(t) (327) TF(t)=-0.7455Y(t)+6489730584 (328) TR(t)=-0.7455Y(t)+6489730584 (329) IM(t)=0.1462Y(t)+2272975614 (330) EX(t)=1.2392Y(t)-9165436347 (331) D(t)=Y(t) (332) MD(t)=-0.4696Y(t)+53745288r(t)+5930693587 (333) MS(t)=560700420t-1126563419771 (334) MD(t)=MS(t)
Solving the equations (1)-(15) we find that at equilibrium (“t” being the year): (335) Y(t)=150763248.58t-316867150070.38 (336) r(t)=11.7498t-23839.9803 (337) TI(t)=-173649229.05t+382081961342.27 (338) G(t)=70546384.02t-144599447101.17 (339) DI(t)=150763248.58t-316867150070.38 (340) C(t)=-61248771.95t+139354202982.68 (341) OR(t)=-61248771.95t+139354202982.68 (342) TR(t)=-112400457.09t+242727758359.58 (343) TF(t)=-112400457.09t+242727758359.58 (344) I(t)=-23315399.55t+46145586717.57 (345) IM(t)=22047994.71t-44066469271.05 (346) EX(t)=186829030.78t-401833961940.51 (347) MD(t)=MS(t)=560700419.60t-1126563419771.00
From the relationships (16)-(28) we can draw the following conclusions:
The analysis of “Actual final consumption of households” emphasizes that in 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Actual final consumption of households” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of households” was registered in 2012 (48.53%) and the minimum in 2008 (33.99%).
The analysis of “Actual final consumption of the government” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of the government” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Other revenues” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Other revenues” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Investment” emphasizes that in 2012, 2013, 2014, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Investment” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Investment” was registered in 2012 (- 120.35%) and the minimum in 2013 (-134.88%).
The analysis of “Government transfers” emphasizes that in 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Government transfers” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Government transfers” was registered in 2012 (1.81%) and the minimum in 2011 (-37.81%).
The analysis of “Tax revenue” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Tax revenue” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Tax revenue” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Broad money” emphasizes that in 2012, 2015 is above the equilibrium value and in 2013, 2014 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Broad money” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Broad money” was registered in 2015 (126.23%) and the minimum in 2014 (70.78%).
The analysis of “Exports” emphasizes that in 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Exports” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Exports” was registered in 2012 (-3.34%) and the minimum in 2010 (-36.73%).
The analysis of “Imports” emphasizes that in 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Imports” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Imports” was registered in 2008 (2236.28%) and the minimum in 2015 (1030.26%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 44.74-56.94%.
The analysis of “Trade balance” emphasizes that in 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 is below the equilibrium value. During the financial crisis (2008- 2012), the behavior of “Trade balance” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Trade balance” was registered in 2012 (9.28%) and the minimum in 2009 (-21.09%).
The analysis of “Output” emphasizes that in 2008, 2009, 2010, 2011 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Output” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Output” was registered in 2008 (-57.21%) and the minimum in 2010 (-68.36%).
The analysis of “Real interest rate (%)” emphasizes that in 2008, 2009, 2010, 2011 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Real interest rate (%)” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Real interest rate (%)” was registered in 2009 (-0.20%) and the minimum in 2010 (-10.06%).
Figure 3.11.2
Figure 3.11.4
Figure 3.11.6
Figure 3.11.8
Figure 3.11.9 3.12. Swaziland
After the analysis during 2000-2016 the model equations are: (348) D(t)=C(t)+G(t)+I(t)+EX(t)-IM(t)
(349) C(t)=0.6408DI(t)+443493182 (350) G(t)=0.4074TI(t)+323216569 (351) TI(t)=TR(t)+OR(t)
(352) OR(t)=0.0057Y(t)+20208156 (353) I(t)=20208155.6039Y(t)+0r(t) (354) DI(t)=Y(t)+TF(t)-TR(t) (355) TF(t)=-0.2833Y(t)+1876569699 (356) TR(t)=0.3755Y(t)-584668716 (357) IM(t)=0.2172Y(t)+1574897121 (358) EX(t)=0.3678Y(t)+591290541 (359) D(t)=Y(t) (360) MD(t)=-584668715.9324Y(t)+0r(t) (361) MS(t)=59383244t-118342129715 (362) MD(t)=MS(t)
Solving the equations (1)-(15) we find that at equilibrium (“t” being the year): (363) Y(t)=-0.03t+23.26 (364) r(t)=109658317.3249t-278917689985.7860 (365) TI(t)=-0.01t-564460551.46 (366) G(t)=0.00t+93248739.78 (367) DI(t)=-0.01t+2461238423.24 (368) C(t)=-0.01t+2020585560.96 (369) OR(t)=0.00t+20208155.74 (370) TR(t)=-0.01t-584668707.20 (371) TF(t)=0.01t+1876569692.78 (372) I(t)=-0.01t-1130227701.44 (373) IM(t)=-0.01t+1574897125.98 (374) EX(t)=-0.01t+591290549.95 (375) MD(t)=MS(t)=59383244.05t-118342129714.90
From the relationships (16)-(28) we can draw the following conclusions:
The analysis of “Actual final consumption of households” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is above the equilibrium value. During the financial crisis (2008-
2012), the behavior of “Actual final consumption of households” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of households” was registered in 2012 (184.42%) and the minimum in 2000 (117.97%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00-0.00%.
The analysis of “Actual final consumption of the government” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of the government” was registered in 2009 (1004.30%) and the minimum in 2002 (483.61%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00-0.00%.
The analysis of “Other revenues” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Other revenues” was registered in 2007 (355.14%) and the minimum in 2002 (142.69%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00-0.00%.
The analysis of “Investment” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Investment” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Investment” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Government transfers” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Government transfers” emphasizes that in 2008, 2009, 2010, 2011, 2012 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Government transfers” was registered in 2012 (71.16%) and the minimum in 2016 (-0.79%).
The analysis of “Tax revenue” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2011, 2012 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Tax revenue” emphasizes that in 2008, 2009, 2011, 2012 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Tax revenue” was registered in 2001 (-96.11%) and the minimum in 2012 (-232.49%).
The analysis of “Broad money” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Broad money” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Broad money” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Exports” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Exports” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Exports” was registered in 2014 (444.34%) and the minimum in 2000 (272.97%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00- 0.00%.
The analysis of “Imports” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Imports” emphasizes that in 2008, 2009, 2010, 2011, 2012 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Imports” was registered in 2008 (178.51%) and the minimum in 2000 (127.29%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00- 0.00%.
The analysis of “Trade balance” emphasizes that in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Trade balance” emphasizes that in 2008, 2009, 2010, 2011, 2012 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Trade balance” was registered in 2009 (62.19%) and the minimum in 2015 (-11.09%). The analysis of “Output” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Output” emphasizes that in is
below the equilibrium value. The maximum ratio between real and equilibrium value of “Output” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Real interest rate (%)” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Real interest rate (%)” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Real interest rate (%)” was registered in (0.00%) and the minimum in (0.00%).
Figure 3.12.1
Figure 3.12.3
Figure 3.12.5
Figure 3.12.7
Figure 3.12.9 3.13. Chad
After the analysis during 2000-2016 the model equations are: (376) D(t)=C(t)+G(t)+I(t)+EX(t)-IM(t) (377) C(t)=0.6109DI(t)+1099295902 (378) G(t)=0.6109TI(t)+1099295902 (379) TI(t)=TR(t)+OR(t) (380) OR(t)=0.6109Y(t)+1099295902 (381) I(t)=0.0000Y(t)r(t) (382) DI(t)=Y(t)+TF(t)-TR(t) (383) TF(t)=0.6162Y(t)-8384214551 (384) TR(t)=0.6162Y(t)-8384214551 (385) IM(t)=0.2524Y(t)+1448290088 (386) EX(t)=0.2132Y(t)+1726326485 (387) D(t)=Y(t) (388) MD(t)=0.0907Y(t)+9275844r(t)-32299936 (389) MS(t)=114823579t-229446232297 (390) MD(t)=MS(t)
Solving the equations (1)-(15) we find that at equilibrium (“t” being the year): (391) Y(t)=0.00t+6139791689.71 (392) r(t)=12.3788t-24792.4103 (393) TI(t)=0.00t+249692106.00 (394) G(t)=0.00t+1251840210.97 (395) DI(t)=0.00t+6139791689.71 (396) C(t)=0.00t+4850276650.84 (397) OR(t)=0.00t+4850276650.84 (398) TR(t)=0.00t-4600584544.84 (399) TF(t)=0.00t-4600584544.84 (400) I(t)=0.00t (401) IM(t)=0.00t+2997828925.33 (402) EX(t)=0.00t+3035503753.22 (403) MD(t)=MS(t)=114823579.42t-229446232297.06
From the relationships (16)-(28) we can draw the following conclusions:
The analysis of “Actual final consumption of households” emphasizes that in 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Actual final consumption of households” emphasizes that in 2015, 2016 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of households” was registered in 2014 (192.63%) and the minimum in 2007 (117.03%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00-0.00%.
The analysis of “Actual final consumption of the government” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Actual final consumption of the government” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Other revenues” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Other revenues” emphasizes that in is below the equilibrium value. The maximum ratio between real
and equilibrium value of “Other revenues” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Investment” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Investment” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Investment” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Government transfers” emphasizes that in 2002, 2003, 2004, 2005, 2006 is above the equilibrium value and in 2000, 2001, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Government transfers” emphasizes that in 2008, 2009, 2010, 2011, 2012 is below the equilibrium value. The maximum ratio between real and equilibrium value of “Government transfers” was registered in 2006 (183.94%) and the minimum in 2016 (4.12%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00- 0.00%.
The analysis of “Tax revenue” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Tax revenue” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Tax revenue” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Broad money” emphasizes that in 2000, 2001, 2002, 2003, 2006 is above the equilibrium value and in 2004, 2005, 2007 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Broad money” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Broad money” was registered in 2000 (208.94%) and the minimum in 2005 (80.39%).
The analysis of “Exports” emphasizes that in 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Exports” emphasizes that in 2015, 2016 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Exports” was registered in 2015 (168.58%) and the minimum in 2009 (106.78%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00-0.00%.
The analysis of “Imports” emphasizes that in 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 is above the equilibrium value. During the financial crisis (2008-2012), the behavior of “Imports” emphasizes that in 2015, 2016 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Imports” was registered in 2014 (173.99%) and the minimum in 2007 (107.72%). The excess of equilibrium values is due, in the corresponding periods, to the large share of GDP, between 0.00-0.00%.
The analysis of “Trade balance” emphasizes that in 2007, 2008, 2015, 2016 is above the equilibrium value and in 2009, 2010, 2011, 2012, 2013, 2014 is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Trade balance” emphasizes that in 2015, 2016 is above the equilibrium value. The maximum ratio between real and equilibrium value of “Trade balance” was registered in 2016 (3122.12%) and the minimum in 2014 (-3302.07%).
The analysis of “Output” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Output” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Output” was registered in (0.00%) and the minimum in (0.00%).
The analysis of “Real interest rate (%)” emphasizes that in is below the equilibrium value. During the financial crisis (2008-2012), the behavior of “Real interest rate (%)” emphasizes that in is below the equilibrium value. The maximum ratio between real and equilibrium value of “Real interest rate (%)” was registered in (0.00%) and the minimum in (0.00%).
Figure 3.13.2
Figure 3.13.4
Figure 3.13.6
Figure 3.13.11
3.14. Togo
After the analysis during 2000-2016 the model equations are: (404) D(t)=C(t)+G(t)+I(t)+EX(t)-IM(t)
(405) C(t)=-0.2694DI(t)+3362952071 (406) G(t)=0.7914TI(t)+128847100
(407) TI(t)=TR(t)+OR(t) (408) OR(t)=0.0300Y(t)-55974289 (409) I(t)=0.7877Y(t)+35233029r(t)-1982863573 (410) DI(t)=Y(t)+TF(t)-TR(t) (411) TF(t)=-2.2411Y(t)+6293026458 (412) TR(t)=0.2239Y(t)-219462477 (413) IM(t)=4.3866Y(t)-10357578523 (414) EX(t)=1.7603Y(t)-3849093075 (415) D(t)=Y(t) (416) MD(t)=0.9575Y(t)-812112r(t)-1798792388 (417) MS(t)=104827849t-209324175507 (418) MD(t)=MS(t)
Solving the equations (1)-(15) we find that at equilibrium (“t” being the year): (419) Y(t)=115731906.99t-229265734280.66 (420) r(t)=7.3676t-14766.9100 (421) TI(t)=29386602.43t-58490506050.51 (422) G(t)=23257543.21t-46162501996.45 (423) DI(t)=-169555278.73t+342402707018.93 (424) C(t)=45679537.64t-88883054425.92 (425) OR(t)=3470106.45t-6930279947.93 (426) TR(t)=25916495.98t-51560226102.58 (427) TF(t)=-259370689.74t+520108215197.00 (428) I(t)=350744928.54t-702855986899.06 (429) IM(t)=507669061.41t-1016053614838.17 (430) EX(t)=203718959.01t-407417805797.40 (431) MD(t)=MS(t)=104827848.66t-209324175506.96
From the relationships (16)-(28) we can draw the following conclusions: