THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND GOVERNMENT SPENDING: A CASE STUDY OF OIC COUNTRIES

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ID: 57302
2015
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Abstract
This paper presents the results for testing for causal relationship between economic growth and goverment spending for OIC countries covering the time series data 1970~2006. There are usually two propositions regarding the relation between economic growth and government spending: Wagner’s Law states that as GDP grows, the public sector tends to grow; and the Keynesian framework postulates that public expenditure causes GDP to grow. The primary strength and originality of this paper is that we used aggregate data as well as disaggregate data for Granger causality test. By testing for causality between economic growth and government spending, we find that government spending does cause economic growth in Iran, Nigeria and Tunisia, which are compatible with Keynesian’s theory. However, the economic growth does cause the increase in goverment spending in Algeria, Burkina Faso, Benin, Indonesia, Libya Malaysia, Marocco, and Saudi, which are well-suited with Wagner’s law.
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sudarsono2015thejurnal Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Sudarsono, Heri;
Journal jurnal ekonomi pembangunan: kajian masalah ekonomi dan pembangunan
Year 2015
DOI
DOI not found
URL
http://journals.ums.ac.id/index.php/JEP/article/view/322
Keywords
Medicine Science economics as a science public aspects of medicine finance economic growth, development, planning

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