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| Description
| - This paper provides direct empirical evidence on cyclicality and the long-term and short-term relationship between government spending and output in eight Central and Eastern European countries in a period 1995-2009. We analyzed annual data on government spending in compliance with the COFOG international standard. Although the theory implies that government spending is countercyclical, our research does not prove that. The results confi rm cyclical development of government spending on GDP, Wagner's law and voracity eff ect in the CEE countries during 1995- 2009. We used Johansen cointegration test and the error correction model. Output and government spending are cointegrated for at least 4 from 10 spending functions in every country and it implies a long-term relationship between government spending and output. The government spending functions are procyclical in most CEE countries (93% cases in the sample). Average value of long-run elasticity coeffi cient is 1.74 for all spending functions, 1.02 for total government spending. We also analyzed the short-run relationship between spending and output. The coeffi cient values (average is 2.89) confi rm the voracity hypothesis, as they suggest that in response to a given shock to real GDP, government spending rises by even more in percentage points.
- This paper provides direct empirical evidence on cyclicality and the long-term and short-term relationship between government spending and output in eight Central and Eastern European countries in a period 1995-2009. We analyzed annual data on government spending in compliance with the COFOG international standard. Although the theory implies that government spending is countercyclical, our research does not prove that. The results confi rm cyclical development of government spending on GDP, Wagner's law and voracity eff ect in the CEE countries during 1995- 2009. We used Johansen cointegration test and the error correction model. Output and government spending are cointegrated for at least 4 from 10 spending functions in every country and it implies a long-term relationship between government spending and output. The government spending functions are procyclical in most CEE countries (93% cases in the sample). Average value of long-run elasticity coeffi cient is 1.74 for all spending functions, 1.02 for total government spending. We also analyzed the short-run relationship between spending and output. The coeffi cient values (average is 2.89) confi rm the voracity hypothesis, as they suggest that in response to a given shock to real GDP, government spending rises by even more in percentage points. (en)
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| Title
| - Public spending and Wagner's law in central and eastern european countries
- Public spending and Wagner's law in central and eastern european countries (en)
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| skos:prefLabel
| - Public spending and Wagner's law in central and eastern european countries
- Public spending and Wagner's law in central and eastern european countries (en)
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| skos:notation
| - RIV/47813059:19520/12:#0001695!RIV13-MSM-19520___
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| http://linked.open...avai/riv/aktivita
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| http://linked.open...avai/riv/aktivity
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| http://linked.open...iv/cisloPeriodika
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| http://linked.open...vai/riv/dodaniDat
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| http://linked.open...aciTvurceVysledku
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| http://linked.open.../riv/druhVysledku
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| http://linked.open...iv/duvernostUdaju
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| http://linked.open...titaPredkladatele
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| http://linked.open...dnocenehoVysledku
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| http://linked.open...ai/riv/idVysledku
| - RIV/47813059:19520/12:#0001695
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| http://linked.open...riv/jazykVysledku
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| http://linked.open.../riv/klicovaSlova
| - government spending, cyclicality, economic growth, correlation, cointegration (en)
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| http://linked.open.../riv/klicoveSlovo
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| http://linked.open...odStatuVydavatele
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| http://linked.open...ontrolniKodProRIV
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| http://linked.open...i/riv/nazevZdroje
| - Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
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| http://linked.open...in/vavai/riv/obor
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| http://linked.open...ichTvurcuVysledku
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| http://linked.open...cetTvurcuVysledku
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| http://linked.open...UplatneniVysledku
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| http://linked.open...v/svazekPeriodika
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| http://linked.open...iv/tvurceVysledku
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| issn
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| number of pages
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| http://localhost/t...ganizacniJednotka
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