The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F12%3A%230002127" target="_blank" >RIV/47813059:19520/12:#0002127 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania
Original language description
The importance of government expenditure management has increased during the last years. This paper provides empirical evidence on the cyclicality and the relationship between government expenditure and output in five European Union members in a period 1995-2009. We use Johansen cointegration test and the error correction model and analyze annual data on government expenditure in compliance with the COFOG international standard. The results confirm that the government expenditure functions are procyclical in most countries (91% cases in the sample). Output and government expenditure are cointegrated at least for four from ten expenditure functions in every country (four in the Czech Republic and Hungary, five in Bulgaria, seven in Slovakia and eight inRomania) and it implies a long-term relationship between government expenditure and output. Average value of long-run elasticity coefficients is 1.72 for all expenditure functions, 1.16 for total government expenditure.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AE - Management, administration and clerical work
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GAP403%2F11%2F2073" target="_blank" >GAP403/11/2073: Procyclicality of financial markets, asset price bubbles and macroprudential regulation</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Scientific Papers of the University of Pardubice
ISSN
1211-555X
e-ISSN
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Volume of the periodical
24
Issue of the periodical within the volume
2
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
11
Pages from-to
188-198
UT code for WoS article
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EID of the result in the Scopus database
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