About: Long-term and short-term relationship between government expenditure and GDP in the EU15: cointegration approach

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About: Long-term and short-term relationship between government expenditure and GDP in the EU15: cointegration approach Goto Sponge NotDistinct Permalink

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Attributes	Values
rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
rdfs:seeAlso	http://www.ekonomista.info.pl/?rok=2014@nr=6@lang=0@menu=0@t=1
Description	This article deals with development and trends of government expenditure in the core European Union member states (EU15) in a period 1995-2010. The aim is to provide direct empirical evidence on cyclicality and the long-term and short-term relationship between government expenditure and GDP. Adjusted annual Eurostat data of GDP and government expenditure in compliance with the COFOG international standard are estimated. The Johansen cointegration test and the Error Correction Model are applied to the examining. Research confirms procyclical development of government expenditure functions on GDP; it means that governments do not use government expenditure as a countercyclical fiscal tool. On the contrary, findings verify existence of Wagner´s Law in the EU15 in selected period. However, the results document significant differences in importance of public sector and a priority of government expenditure functions in individual countries. This article deals with development and trends of government expenditure in the core European Union member states (EU15) in a period 1995-2010. The aim is to provide direct empirical evidence on cyclicality and the long-term and short-term relationship between government expenditure and GDP. Adjusted annual Eurostat data of GDP and government expenditure in compliance with the COFOG international standard are estimated. The Johansen cointegration test and the Error Correction Model are applied to the examining. Research confirms procyclical development of government expenditure functions on GDP; it means that governments do not use government expenditure as a countercyclical fiscal tool. On the contrary, findings verify existence of Wagner´s Law in the EU15 in selected period. However, the results document significant differences in importance of public sector and a priority of government expenditure functions in individual countries. (en)
Title	Long-term and short-term relationship between government expenditure and GDP in the EU15: cointegration approach Long-term and short-term relationship between government expenditure and GDP in the EU15: cointegration approach (en)
skos:prefLabel	Long-term and short-term relationship between government expenditure and GDP in the EU15: cointegration approach Long-term and short-term relationship between government expenditure and GDP in the EU15: cointegration approach (en)
skos:notation	RIV/47813059:19520/14:#0002713!RIV15-MSM-19520___
http://linked.open...avai/riv/aktivita	I
http://linked.open...avai/riv/aktivity	I
http://linked.open...iv/cisloPeriodika	6
http://linked.open...vai/riv/dodaniDat	2015
http://linked.open...aciTvurceVysledku	Szarowská, Irena
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Slezská univerzita v Opavě / Obchodně podnikatelská fakulta v Karviné
http://linked.open...dnocenehoVysledku	26574
http://linked.open...ai/riv/idVysledku	RIV/47813059:19520/14:#0002713
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	government expenditure; cyclicality; Wagner´s Law; COFOG classification; long-run elasticity; short-run elasticity (en)
http://linked.open.../riv/klicoveSlovo	Wagner´s Law long-run elasticity short-run elasticity COFOG classification cyclicality government expenditure
http://linked.open...odStatuVydavatele	PL - Polská republika
http://linked.open...ontrolniKodProRIV	[1FE8FDF41CB9]
http://linked.open...i/riv/nazevZdroje	Ekonomista
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...UplatneniVysledku	2014
http://linked.open...v/svazekPeriodika	Neuvedeno
http://linked.open...iv/tvurceVysledku	SZAROWSKÁ, Irena
issn	0013-3205
number of pages	18 (xsd:int)
http://localhost/t...ganizacniJednotka	19520

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