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Due to the financial disturbances created by the COVID-19 pandemic and the burden on the government exchequer, it is expected to see a rise in the knowledge base of the research corpus so far as the government's fiscal sustainability is concerned. Therefore, the present research examines a systematic quantitative analysis of public debt sustainability research by applying a bibliometric approach. Research also analyzes journals, institutions, countries and authors contributing to public debt sustainability.

This paper scrutinizes the published scientific research on public debt sustainability based on the dataset of 535 articles from 1991 to 2021 obtained from the Scopus database. Biblioshiny (R-based application) and VoSviewer software were used to perform bibliometric analysis through Performance analysis and science mapping techniques. The authors combined co-citation analysis (CCA), bibliometric analysis, keyword co-occurrence analysis (KCA) and a conceptual thematic map of the most cited articles to find the intellectual structure.

The research identified three dominating clusters, e.g. fiscal sustainability and policy rules, empirical sustainability testing and debt and growth dynamics. Another finding was that most articles were analytical and empirical and few descriptive articles were found. Owing to the empirical nature of the domain, the issues concerning public debt sustainability have continued to change over the past decades for different economies, reflecting the complexity and diversity of economic structures of different economies at different times.

The insight of this article provides academicians and researchers with a more refined comprehension of the conceptual and intellectual structure of the research corpus. The present research complements the existing literature review studies by pushing the research towards emerging or less developed issues such as financial and debt crises.

This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.

In total, 28 African countries were analyzed from 2000 to 2020 using the generalized method of moment regression method. An inclusive growth index was developed using the principal component analysis (PCA) method. The PCA-derived index incorporates factors such as poverty, income inequality, economic participation and per capita income.

The main findings suggest that fiscal space availability (de facto fiscal space and fiscal balance) promotes inclusive growth. The study also showed that lagged inclusive growth, digitalization and governance indicators positively influence inclusive growth. The study concludes that fiscal space availability fosters inclusive growth, but this effect is mediated by governance quality in Africa.

Several studies examined the role of fiscal policy on inclusive growth. However, it is crucial to assess the fiscal space, that is, the financial capacity of the government to implement its fiscal policy without harming its financial stability. This paper, therefore, contributes to the existing literature by using de facto fiscal space indicator to comprehend fiscal dynamics contributing to inclusive growth. In addition, the paper uniquely constructs an inclusive growth index by including poverty severity, which considers both the incidence and depth of poverty and inequality in society.

The unique institution of waqf that was ignored during the colonization of the Muslim areas has to be revived to play its role in shared growth, social inclusion and cohesion in society. This research paper aims to explore the role of waqf as an instrument for a sustainable growth system and to suggest a model for socioeconomic development in an economy like that of Pakistan.

This qualitative research is based on analytical methods to arrive at the frameworks and a model that could facilitate the revival of waqf for community development/social inclusion in economies like that of Pakistan.

As most of the OIC member states like Pakistan are facing serious financial problems due to debt servicing obligations, promoting Waqf for various socioeconomic and cultural functions is a vital requirement for such economies. The inability of the state institutions in providing necessary civic, health and education facilities to the public is causing serious harm to the balance of the society. It requires promoting a formal system of charity and using FinTech for waqf-based donations and financing the micro businesses. The perpetuity complimented by the profitability of the waqf properties makes the waqf institutions sustainable and effective when compared to individual charities.

This is conceptual research discussing the potential of waqf in light of its historical role. Researchers may undertake empirical studies on awqaf operations in various jurisdictions and their role in the empowerment of the poor.

The research will provide the researchers with insight into the potential of waqf as a tool for community development. Besides, it will enable policymakers and implementation authorities to socialize charity for sustained benefits and welfare.

To the best of the authors’ knowledge, it is the first major research that discusses the role of waqf in economies facing budgetary and trade deficits in the eradication of poverty and the promotion of social and economic entrepreneurship in realizing the community development targets for the economies like that of Pakistan.

The purpose of this article is to challenge the balanced budget practices of U.S. state governments and offer alternatives that may lead to better fiscal, economic and policy outcomes. We contend that the norm of balance may be leading U.S. states to make fiscal decisions that result in less-than-ideal outcomes, especially during economic downturns.

This is a normative article. We examine the scholarly evidence regarding balanced budget practices to assess the appropriateness of balanced budget norms. We also examine the fiscal rules followed by Eurozone countries to draw potential lessons for U.S. states.

We conclude that state governments should move away from strict norms of budget balance and seek more flexible approaches. We suggest that instead of following strict rules and norms of balance, U.S. states should consider implementing escape clauses, debt and deficit ceilings, and fiscal councils. We also suggest that the Federal Reserve be open to lending directly to states during fiscal crises to ensure that states have access to affordable credit.

The balanced budget norm has become ingrained in U.S. state budgeting practices, so much so that public officials and scholars alike rarely question it. The novel contribution of our article is to question this practice in a systematic way and propose alternative approaches.

The purpose of this study is to identify discourses of sustainability of community colleges and how they related to sustainability imaginaries.

This study used a combination of research strategies associated with corpus linguistics and critical discourse analysis. Data included 57 issues of Community College Journal, a professional magazine published by the American Association of Community Colleges, and 2,972 abstracts of dissertations about community colleges. Publication dates ranged from 2010 to 2020.

Community college discourse of sustainability coheres around six themes: careers and fields of study; curriculum and credentialing; campus ecological sustainability; administrative roles and processes; external organizations, partnerships and processes; and fiscal sustainability. There is little evidence of a sustainable living imaginary found.

The analysis is limited to a specific set of professional and academic texts about community colleges. Future researchers should explore discourses of sustainability in other contexts.

There has been no research associated with critical discourse analysis and corpus linguistics to explore community college discourses of sustainability, specifically in the field of community college leadership. The findings of this study situate the community college within contests over sustainability competencies in the practice of community college leadership development.

This paper seeks to explore the sensitivity of these parameters and their impact on fiscal policy outcomes. We use the existing literature to establish possible ranges for each parameter, and we examine how changes within these ranges can alter the outcomes of fiscal policy. In this way, we aim to highlight the importance of these parameters in the formulation and evaluation of fiscal policy.

The role of fiscal policy, its effects and multipliers continues to be a subject of intense debate in macroeconomics. Despite adopting a New Keynesian approach within a macroeconomic model, the reactions of macroeconomic variables to fiscal shocks can vary across different contexts and theoretical frameworks. This paper aims to investigate these diverse reactions by conducting a sensitivity analysis of parameters. Specifically, the study examines how key variables respond to fiscal shocks under different parameter settings. By analyzing the behavioral dynamics of these variables, this research contributes to the ongoing discussion on fiscal policy. The findings offer valuable insights to enrich the understanding of the complex relationship between fiscal shocks and macroeconomic outcomes, thus facilitating informed policy debates.

This paper aims to investigate key elements of New Keynesian Dynamic Stochastic General Equilibrium (DSGE) models. The focus is on the calibration of parameters and their impact on macroeconomic variables, such as output and inflation. The study also examines how different parameter settings affect the response of monetary policy to fiscal measures. In conclusion, this study has relied on theoretical exploration and a comprehensive review of existing literature. The parameters and their relationships have been analyzed within a robust theoretical framework, offering valuable insights for further research on how these factors influence model forecasts and inform policy recommendations derived from New Keynesian DSGE models. Moving forward, it is recommended that future work includes empirical analyses to test the reliability and effectiveness of parameter calibrations in real-world conditions. This will contribute to enhancing the accuracy and relevance of DSGE models for economic policy decision-making.

This study is motivated by the aim to provide a deeper understanding of the roles macroeconomic model parameters play concerning responses to expansionary fiscal policies and the subsequent reactions of monetary authorities. Comprehensive reviews that encompass this breadth of relationships within a single text are rare in the literature, making this work a valuable contribution to stimulating discussions on macroeconomic policies.

Fiscal and monetary policies are essential to the development of a capital market. In this chapter, authors present how fiscal and monetary policy in Poland evolved and adjusted to economic challenges in 1998–2022. It is worth noticing that the Polish economy and financial market have been built from scratch after 45 years of socialism. Hence, it is scientifically interesting to study the relationship between fiscal and monetary policy, and capital market in a developing country, and in a relatively young economy.

Both – the macroeconomic policy mix and development of the capital market – are the subject of analysis how fiscal and monetary policy impacted the capital market. As so the main aim of the chapter is the assessment of the nexus and dependencies between fiscal and monetary policy and the capital market.

In the chapter, multiple linear regression was used for each dependent variable to discover which monetary and fiscal policy parameters significantly predicted selected variables describing the development of the capital market in Poland. Fiscal and monetary policy variables served as descriptors explaining capital market parameters in seven separate models.

Multiple regression models explain 77.3%–95.4% of the volatility of the capital market characteristics. The level of the central bank's reference rate is a variable that influences the capital market the most. In six out of seven models, the interest rate was a significant parameter. The development of the capital market was accompanied by a higher tax-to-GDP ratio. At the same time, a strong negative impact of the tax-to-GDP increase was noticed in domestic institutional investors' stock trading.

The purpose of this study is to determine whether the Ottoman Empire’s net interest payments and foreign debt were sustainable or not in terms of their burden on budget revenues, using the method of historical econometric analysis.

In this study, the period between 1847 and 1882 of the Ottoman Empire is analyzed for sustainability analysis. Within the framework of the study, unit root tests and econometric analysis methods frequently used in the literature were used to analyze the sustainability of public debt. In the econometric analysis, in addition to various unit root tests, current econometric analysis methods, in particular Fourier expansion, were also used.

The results of econometric analyses showed that the burden of interest payments and foreign debt on the budget of the Ottoman state was unsustainable. This situation clearly shows the reason for the official bankruptcy of the Ottoman Empire, which was declared in 1875.

Although this study reveals the bankruptcy process of an important structure such as the Ottoman Empire in the historical process through econometric analyses, it also gives a very important message to today’s states. Accordingly, today’s state policies and decision-making mechanisms should take these results into account and strive to make the burden of public interest payments sustainable. It is believed that the study will shed light on the public finance policies of today’s states by drawing lessons from the collapse process of the Ottoman state.

Unlike the historical assessments in the literature on the decline of the Ottoman Empire, this study presents a cliometric approach by applying current econometric analysis techniques to past historical data. The study explains the unsustainability of the Ottoman Empire’s interest payments and external debt burden in the period under consideration in a way that, to the best of the authors’ knowledge, has not been done before.