Article detail · 2014
Examining the Validity of Wagner s Law in the OECD Economies
Journal
Research in Applied EconomicsISSN 1948-5433
- Year
- 2014
- Type
- article
Data source split
- YÖKSİS YÖKSİS article record
- YÖKSİS venue Research in Applied Economics
- OpenAlex OpenAlex enrichment (abstract, citations, topics)
Abstract
English (OpenAlex)
In this study, the validity of Wagner’s Law, which explains the relationship between public expenditures and economic growth, has been analyzed over its alternative models by using the data from 27 OECD economies between the years 1995- 2012. It has been carried out by utilizing unit root, co-integration and error correction tests panel data analyses, the long term co-efficiencies between public expenditures and economic growth. In order to test the relationship of co-integration, the Pedroni, Johansen-Fisher and Westerlund co-integration tests were utilized, whereas for the predictions of the long term co-efficiencies, the DOLS predictor was utilized. In addition, the PMGE and MGE error correction models were benefited from for predicting the short term parameters between the variables.
Topics
- Firm Innovation and Growth
- Monetary Policy and Economic Impact
- Labor market dynamics and wage inequality
Primary topic Firm Innovation and Growth