Wagner’s Law versus Keynesian Hypothesis: New Evidence from Recursive Regression-Based Causality Approaches
AbstractThe main purpose of this study is to empirically investigate the stability of causal relationship between government expenditure and economic growth in the light of Wagner’s law and Keynesian hypotheses, in Malaysia. The results of the recursive regression-based causality tests indicate that the causal relationship between government expenditure and economic growth are not stable. The causality evidence support Wagner’s law from 1985 until approximately 2000, while the Keynesian hypothesis was present only before 1980.
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Bibliographic InfoArticle provided by IUP Publications in its journal The IUP Journal of Public Finance.
Volume (Year): VI (2008)
Issue (Month): 4 (November)
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- Tang, Chor Foon, 2010. "The determinants of health expenditure in Malaysia: A time series analysis," MPRA Paper 24356, University Library of Munich, Germany.
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- Tang, Chor Foon & Lai, Yew Wah, 2011. "The Stability of Export-led Growth Hypothesis: Evidence from Asia's Four Little Dragons," MPRA Paper 27962, University Library of Munich, Germany.
- Tang, Chor Foon, 2011. "Tourism, real output and real effective exchange rate in Malaysia: a view from rolling sub-samples," MPRA Paper 29379, University Library of Munich, Germany.
- Ageli, Dr Mohammed Moosa, 2013. "Does Education Expenditure Promote Economic Growth in Saudi Arabia? An Econometric Analysis," MPRA Paper 46673, University Library of Munich, Germany.
- Tang, Chor Foon, 2010. "Savings-led growth theories: A time series analysis for Malaysia using the bootstrapping and time-varying causality techniques," MPRA Paper 27299, University Library of Munich, Germany.
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