Relationship between government expenditure and output in the problematic regions in the European Union
Электронный научный архив УРФУ
Информация об архиве | Просмотр оригинала| Поле | Значение | |
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Relationship between government expenditure and output in the problematic regions in the European Union
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| Автор |
Szarowská, I.
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| Тематика |
COFOG CLASSIFICATION
CYCLICALITY GOVERNMENT EXPENDITURE LONG-RUN ELASTICITY SHORT-RUN ELASTICITY VORACITY EFFECT WAGNER.S LAW |
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| Описание |
Economic and debt crisis has increased the attention paid to the development of government expenditure in problematic regions in the European Union. The goal of the article is to provide direct empirical evidence on cyclicality and the long-term and short-term relationship between government expenditure and output in the Portugal, Ireland, Italy, Greece and Spain in a period 1995–2011. We have applied Johansen cointegration test and the error correction model on adjusted annual data of GDP and government expenditure in compliance with the COFOG international standard. Research confirms procyclical development of government expenditure functions on GDP in the selected countries; this procyclicality is in line with development typical for developing countries. Moreover, output and government expenditure are cointegrated for at least six of the expenditure categories in every country and it implies a long-term relationship between government expenditure and output consistent with Wagner’s law. The values of the coefficients for the short-run relationship between expenditure and output confirm the voracity hypothesis, as they suggest that in response to a given shock to real GDP, government expenditure rises by even more in percentage points.
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| Дата |
2024-04-17T11:46:02Z
2024-04-17T11:46:02Z 2013 |
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| Тип |
Article
Journal article (info:eu-repo/semantics/article) Published version (info:eu-repo/semantics/publishedVersion) |
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| Идентификатор |
Szarowská I. Relationship between government expenditure and output in the problematic regions in the European Union / I. Szarowská // Economy of Region. — 2013. — Iss. 4. — P. 190-199.
2411-1406 2072-6414 http://elar.urfu.ru/handle/10995/131896 10.17059/2013-4-20 84979820316 |
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| Язык |
en
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| Связанные ресурсы |
Экономика региона. 2013. Выпуск 4
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| Права |
Open access (info:eu-repo/semantics/openAccess)
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| Формат |
application/pdf
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Institute of Economics, Ural Branch of the Russian Academy of Sciences
Институт экономики Уральского отделения РАН |
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| Источник |
Econ. Reg.
Economy of Region |
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