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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2011.1
- 수록면
- 59 - 84 (26page)
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This paper examines the validity of Wagner’s Law of long-run causal relationship between national income and public expenditure for Nigeria over the period 1970-2008. Deploying modern advances in Econometric techniques, such as the autoregressive distributed lag (ARDL) bounds testing approach to cointegration,vector error-correction method (VECM) and the standard Granger causality test, we found strong support forWagner’s longrun postulate of causal relationship from national income to public expenditure in Nigeria. However, we also found that there is a short run causal relationship running from public expenditure to national income in Nigeria, in validation of Keynesian theory. The policy implication of our findings is that public expenditure still remains a veritable short run instrument that could be utilized to stimulate economic growth in Nigeria, since national income does not explain short run changes in public expenditure in the country, except in the long run as Wagner’s Law suggests.
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참고문헌 (28)
참고문헌 신청
Abizadeh, S / 1998 / An Empirical Analysis of South Korea’s Economic Development and Public Expenditure Growth / The Journal of Socio-Economics 27 (6) : 33 ~ 47
Afentiou. P. C / 1992 / Modeling the Relationship between Output and Government Expenditure in Canada / Kero Economic Studies 29 (1) : 17 ~ 43
Ansari, M. I. / 1997 / Keynes Versus Wagner: Public Expenditure and National Income for Three African Countries / Applied Economics 29 : 543 ~ 550
Aregbeyen, O. / 2006 / Cointegration, Causality and Wagner’s Law: A Test for Nigeria, 1970-2003 / Economic and Financial Review 44 (2) : 1 ~ 17
Bagdigen, M / 2003 / Causality Between Public Expenditure and Economic Growth: The Turkish Case / Journal of Economic and Social Research 6 (1) : 53 ~ 72
Afentiou. P. C / 1992 / Modeling the Relationship between Output and Government Expenditure in Canada / Kero Economic Studies 29 (1) : 17 ~ 43
Ansari, M. I. / 1997 / Keynes Versus Wagner: Public Expenditure and National Income for Three African Countries / Applied Economics 29 : 543 ~ 550
Aregbeyen, O. / 2006 / Cointegration, Causality and Wagner’s Law: A Test for Nigeria, 1970-2003 / Economic and Financial Review 44 (2) : 1 ~ 17
Bagdigen, M / 2003 / Causality Between Public Expenditure and Economic Growth: The Turkish Case / Journal of Economic and Social Research 6 (1) : 53 ~ 72
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