Testing Wagner’s Law in an Oil-Exporting Economy: the Case of Azerbaijan
AbstractThis paper investigates the relationship between public expenditure and economic growth in Azerbaijan, including impact of oil prices. Applying time series econometrics, such as unit roots and bounds testing approaches, and autoregressive distributed lag techniques the analysis in this study is based on quarterly data during the period from 2001 to 2010. The results of the research support the validity of Wagner’s hypothesis in the oil-exporting economy and the existence of both long and short run causality among the cointegrated variables. Copyright CEEUN 2013
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Bibliographic InfoArticle provided by Springer in its journal Transition Studies Review.
Volume (Year): 20 (2013)
Issue (Month): 3 (November)
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Web page: http://www.springerlink.com/link.asp?id=112913
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
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