The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania

Popis výsledku anglicky

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.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AE - Řízení, správa a administrativa

OECD FORD obor

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Projekt

<a href="/cs/project/GAP403%2F11%2F2073" target="_blank" >GAP403/11/2073: Procykličnost finančních trhů, bubliny v cenách aktiv a makroprudenční regulace</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2012

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Scientific Papers of the University of Pardubice

ISSN

1211-555X

e-ISSN

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Svazek periodika

24

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

11

Strana od-do

188-198

Kód UT WoS článku

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EID výsledku v databázi Scopus

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