TITLE

Keynes versus Wagner: Aggregated and Disaggregated Analysis of Public Expenditure in Selected South Asian Countries

AUTHOR(S)
Ul Husnain, Muhammad Iftikhar
PUB. DATE
May 2011
SOURCE
International Research Journal of Finance & Economics;2011, Issue 67, p46
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This study tests Wagnerian versus Keynesian hypothesis using annual time series data on three South Asian countries-Pakistan, India and Sri Lanka- over the period 1975-2009 by using Engel Granger (1987) procedure and Error Correction Mechanism (ECM). The analysis reveals that public expenditure in Pakistan is linked with per capita GDP both in Keynesian and Wagnerian sense. In Sri Lanka public expenditure follows Wagner's law while in case of India no evidence has been found on co-integration between public expenditure and per capita GDP. At disaggregated level, various components of public expenditure are not co-integrated with per capita GDP in all the countries.
ACCESSION #
76481316

 

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