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Government Revenues And Expenditures In Guinea-Bissau: Causality And Cointegration

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Author Info

  • Francisco G. Carneiro

    ()
    (The World Bank)

  • Joao R. Faria

    (University of Texas at Dallas)

  • Boubacar S. Barry

    (The World Bank)

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    Abstract

    The paper establishes empirically the temporal causality and long run relationship between government expenditures and government revenues for the case of Guinea-Bissau - a low income country under stress (LICUS) in Africa. A macroeconomic model is developed to lay out the hypothesis of a spend-tax behavior in the country¡¯s public finances management system. Empirical validation is carried out by means of a traditional Granger-causality test and the estimation of an error correction model between expenditures and revenues.

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    Bibliographic Info

    Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

    Volume (Year): 30 (2005)
    Issue (Month): 1 (June)
    Pages: 107-117

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    Handle: RePEc:jed:journl:v:30:y:2005:i:1:p:107-117

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    Related research

    Keywords: Public Finances; Causality Tests; Cointegration Analysis;

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    1. Denis Kwiatkowski & Peter C.B. Phillips & Peter Schmidt, 1991. "Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root: How Sure Are We That Economic Time Series Have a Unit Root?," Cowles Foundation Discussion Papers 979, Cowles Foundation for Research in Economics, Yale University.
    2. Peter C.B. Phillips, 1985. "Understanding Spurious Regressions in Econometrics," Cowles Foundation Discussion Papers 757, Cowles Foundation for Research in Economics, Yale University.
    3. David E. Bloom & David Canning & Jaypee Sevilla, 2001. "The Effect of Health on Economic Growth: Theory and Evidence," NBER Working Papers 8587, National Bureau of Economic Research, Inc.
    4. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
    5. K. Dhanasekaran, 2001. "Government Tax Revenue, Expenditure and Causality: the Experience of India," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 36(2), pages 359-379, July.
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    Cited by:
    1. Richard Doh-Nani & Dadson Awunyo-Vitor, 2012. "The Causal Link between Government Expenditure and Government Revenue in Ghana," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 2(2), pages 382-388, June.
    2. Afia Malik, 2013. "Private Investment And Fiscal Policy In Pakistan," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 38(1), pages 83-109, March.

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