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Causality between Income and Government Expenditure: A Broad International Perspective

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  • Ram, Rati

Abstract

This paper develops and estimates a small new-classical model of the Greek economy using annual data from 1954 to 1980. The model is "monetarist" as the demand for output is derived from the demand for money function. In this model output is affected only by actual and anticipated monetary growth, whereas the price level is influenced by both actual and unanticipated changes in money supply, using single equation and simultaneous equation techniques.

Suggested Citation

  • Ram, Rati, 1986. "Causality between Income and Government Expenditure: A Broad International Perspective," Public Finance = Finances publiques, , vol. 41(3), pages 393-414.
    • Handle: RePEc:pfi:pubfin:v:41:y:1986:i:3:p:393-414
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    Cited by:

    1. Alimi, R. Santos, 2013. "Testing Augmented Wagner’s Law for Nigeria Based on Cointegration and Error-Correction Modelling Techniques," MPRA Paper 52319, University Library of Munich, Germany.
    2. Javid Suleymanli, 2022. "Differences in the Determinants of National Reserves across G7 and Rising Power Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 12(2), pages 431-443, March.
    3. Stephen Moore, 2016. "Wagner in Ireland: An Econometric Analysis," The Economic and Social Review, Economic and Social Studies, vol. 47(1), pages 69-103.
    4. Ansari, M. I., 1996. "Monetary vs. fiscal policy: Some evidence from vector autoregression for India," Journal of Asian Economics, Elsevier, vol. 7(4), pages 677-698.
    5. Narayan, Paresh Kumar & Nielsen, Ingrid & Smyth, Russell, 2008. "Panel data, cointegration, causality and Wagner's law: Empirical evidence from Chinese provinces," China Economic Review, Elsevier, vol. 19(2), pages 297-307, June.
    6. Lindauer, David L., 1988. "The size and growth of government spending," Policy Research Working Paper Series 44, The World Bank.
    7. Magazzino, Cosimo, 2009. "Wagner's law in Italy: empirical evidence from 1960 to 2008," MPRA Paper 25526, University Library of Munich, Germany.
    8. Halicioglu Ferda, 2003. "Testing Wagner's Law for Turkey, 1960-2000," Review of Middle East Economics and Finance, De Gruyter, vol. 1(2), pages 31-42, August.
    9. Ahsan, Syed M. & Sahni, Balbir S., 1987. "La relation entre les dépenses et les recettes publiques dans une économie régionale : le Québec, 1955-82," L'Actualité Economique, Société Canadienne de Science Economique, vol. 63(4), pages 295-310, décembre.
    10. Narayan, Seema & Rath, Badri Narayan & Narayan, Paresh Kumar, 2012. "Evidence of Wagner's law from Indian states," Economic Modelling, Elsevier, vol. 29(5), pages 1548-1557.
    11. Magazzino, Cosimo, 2010. "Wagner's law and Italian disaggregated public spending: some empirical evidences," MPRA Paper 26662, University Library of Munich, Germany.
    12. repec:agr:journl:v:4(621):y:2019:i:4(621):p:181-200 is not listed on IDEAS
    13. Ferda Halicioglu, 2005. "Testing Wagner's Law for Turkey, 1960-2003," Public Economics 0502013, University Library of Munich, Germany.
    14. Choudhry Mohammad HANIF & Elsadig Musa AHMED, 2018. "Economic Development In Sub-Saharah Africa And Analysis Of Wagner`S Law, 2005-2015," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 18(2), pages 101-116.
    15. Ali, Wajid & Munir, Kashif, 2016. "Testing Wagner versus Keynesian Hypothesis for Pakistan: The Role of Aggregate and Disaggregate Expenditure," MPRA Paper 74570, University Library of Munich, Germany.
    16. Khundrakpam, Jeeavn Kumar, 2003. "Public Sector Spending and Economic Growth in India," MPRA Paper 51105, University Library of Munich, Germany, revised 2003.
    17. P.K. Mishra (b), S.K. Mishra (b) and M.K. Sarangi (b), 2020. "Social Sector Development and Economic Growth in India, 1990-1991 to 2017-2018," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 45(4), pages 49-68, December.
    18. Asuman Oktayer & Nagihan Oktayer, 2013. "Testing Wagner's Law for Turkey: Evidence from a Trivariate Causality Analysis," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(2), pages 284-301.
    19. Magazzino, Cosimo, 2010. "Wagner's law and augmented Wagner's law in EU-27. A time-series analysis on stationarity, cointegration and causality," MPRA Paper 26668, University Library of Munich, Germany.
    20. Islam, Muhammed N., 2015. "Economic growth, repression, and state expenditure in non-democratic regimes," European Journal of Political Economy, Elsevier, vol. 37(C), pages 68-85.
    21. Burak Sencer Atasoy & Timur Han Gür, 2016. "Does the Wagner’s Hypothesis Hold for China? Evidence from Static and Dynamic Analyses," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(1), pages 45-60, March.
    22. R Premalatha, 2020. "Pattern of Public Expenditure on Social Sector in India," Shanlax International Journal of Economics, Shanlax Journals, vol. 9(1), pages 57-62, December.
    23. Kashif MUNIR & Wajid ALI, 2019. "Wagner versus Keynesian Hypothesis: Role of aggregate and disaggregate expenditure in Pakistan," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(621), W), pages 181-200, Winter.

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