Review Reports

Round 1

Reviewer 1 Report

Dear Authors,

I hope you are well I have read cearfully your research. I strong recomendation to you to make some major revision from abstract to conclusion. 

In attach you can find my revision. 

 

Best regards,

 

Comments for author File: Comments.pdf

Author Response

Good Day 

 

Kindly find that response to the comments all addressed. 

 

Thanks 

Msizi

Author Response File: Author Response.docx

Reviewer 2 Report

The theoretical and empirical framework of the study is appropriate. My suggestions are as below.

·       The hypothesis of the study should be clarified in the introduction; this is also important in terms of giving the motivation of the study to the reader.

·       In terms of the descriptive statistics, kurtosis and skewness values should be given since the selection of the models are highly under the influence of those stats.

·       Unit root with structural break tests should be used to support the employment of time-varying model. To determine breaks, multiple breakpoint tests can also be performed.

·       The model results should be analyzed by comparing them with the scientific literature.

·       The data and the codes should be provided to the referee to replicate the results.

·       The studies listed below should be analyzed.

 

https://onlinelibrary.wiley.com/doi/epdf/10.1002/ijfe.2151

https://doi.org/10.1080/09638199.2016.1232747

https://www.proquest.com/openview/0a1d6f776a056b3b44244cfda0ee6a91/1?pq-origsite=gscholar&cbl=816355

Author Response

Good Day 

 

Kindly find that response to the comments all addressed. 

 

Thanks 

Msizi

Author Response File: Author Response.docx

Reviewer 3 Report

The paper assesses the impact of macroeconomic uncertainty on different regimes of economic growth in the presence of fiscal consolidation in South Africa. I have read the complete paper and I hold following observation on it.

 

1.      The presentation and the proofreading could be further improved. For instance, the first paragraph of the background should be deleted as it is part of MDPI template.

2.      More information about the macroeconomic uncertainty should be provided and what proxies have been used and controlled to measure the uncertainty. And here you could add a recent and related work that have used similar variables (see, Regression Analysis of Macroeconomic Conditions and Capital Structures of Publicly Listed British Firms. Mathematics 2022, 10, 1119.) in the manuscript.

3.      The equation labels need to be revised. For instance, there are a few equations labeled as equation 1, please revise the labels for more clarity.

4.      The second equation needs to be further explained that discussed.

5.      The results could have been further discussed and interpretations could have been further linked to existing research.

6.      I feel that the paper could gain a lot in terms of readability if some discussion on sample and the measurement of the variables could be added to the discussion and conclusion sections.

7.      It would be important to see some robustness/sensitivity checks beyond what the authors have done. Has any robustness check been done to confirm the validity of the findings? Using different estimation strategies or different proxies to measure the selected variables?

8.      Conclusion needs to be further improved and more discussion of policy implications is needed.

 

I wish you best of luck.

 

 

Author Response

Good Day 

 

Kindly find that response to the comments all addressed. 

 

Thanks 

Msizi

Author Response File: Author Response.docx

Round 2

Reviewer 1 Report

Dear Author/s,

Thank you very much for your response and fullfill my suggestion.

Best regards,

Veton Zeqiraj

Author Response

Thanks

 

Reviewer 2 Report

Despite the author/authors mention that the studies are based on the panel data estimation, they deal with time series when carefully checked. Thus, I suggest that the relevant studies are incorporated to the study to improve the quality of the paper.

https://onlinelibrary.wiley.com/doi/epdf/10.1002/ijfe.2151

https://doi.org/10.1080/09638199.2016.1232747

https://www.proquest.com/openview/0a1d6f776a056b3b44244cfda0ee6a91/1?pq-origsite=gscholar&cbl=816355

Author Response

Thanks