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Heterogeneite De La Causalite Entre Depenses Publiques Et Croissance Economique Dans Les Pays De L'Uemoa:Quelles Implications Pour La Coordination Des Politiques Budgetaires
[Heterogeneity Of The Causality Between Public Expenditure And Economic Growth In Waemu Countries: What Are The Implications For Policy Coordination Budget]

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  • HOUNKPODOTE, Hilaire
  • BATIONO, Rakissiwindé
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    Abstract

    The causal relationship between public expenditure-economic growth has been the subject of deep concern among economists. This paper examines for the period 1967 to 2007, heterogeneous public expenditure-economic growth causality in West Africa Economic and Monetary Union (WAEMU) and analyzes the implication of fiscal coordination. Causality was determined in each country from a methodology based on cointegration analysis leading to representations of vector error correction and Toda and Yamamoto causality test (1995). The existence of heterogeneous causality between public expenditure and economic growth in WAEMU zone leads to consider a new model of fiscal coordination integrating this heterogeneous, including the adoption of a new more flexible fiscal standard for each country.

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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26027.

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    Date of creation: May 2009
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    Handle: RePEc:pra:mprapa:26027

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    Keywords: Causality; public expenditure; economic growth; heterogeneous; fiscal coordination;

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    1. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S103-26, October.
    2. Jérôme Creel & Bruno Ducoudre & Catherine Mathieu & Henri Sterdyniak, 2005. "Doit-on oublier la politique budgétaire? Une analyse critique de la nouvelle théorie anti-keynésienne des finances publiques," Sciences Po publications info:hdl:2441/1769, Sciences Po.
    3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    4. Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
    5. Mohan, Ramesh & Nandwa, Boaz, 2007. "Testing Export-led Growth Hypothesis in Kenya: An ADRL Bounds Test Approach," MPRA Paper 5582, University Library of Munich, Germany.
    6. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
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