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

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
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 in Romania) 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. 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 in Romania) 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. (en)
Title	The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania (en)
skos:prefLabel	The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania (en)
skos:notation	RIV/47813059:19520/12:#0002127!RIV13-GA0-19520___
http://linked.open...avai/predkladatel	Obchodně podnikatelská fakulta v Karviné
http://linked.open...avai/riv/aktivita	P
http://linked.open...avai/riv/aktivity	P(GAP403/11/2073)
http://linked.open...iv/cisloPeriodika	2
http://linked.open...vai/riv/dodaniDat	2013
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	129347
http://linked.open...ai/riv/idVysledku	RIV/47813059:19520/12:#0002127
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	Government Expenditure, Cyclicality, Voracity Effect, Long-Run Elasticity, Short-Run Elasticity (en)
http://linked.open.../riv/klicoveSlovo	Cyclicality Government Expenditure Long-Run Elasticity Short-Run Elasticity Voracity Effect
http://linked.open...odStatuVydavatele	CZ - Česká republika
http://linked.open...ontrolniKodProRIV	[3DADC4547478]
http://linked.open...i/riv/nazevZdroje	Scientific Papers of the University of Pardubice
http://linked.open...in/vavai/riv/obor	AE
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...vavai/riv/projekt	Procyclicality of financial markets, asset price bubbles and macroprudential regulation
http://linked.open...UplatneniVysledku	2012
http://linked.open...v/svazekPeriodika	24
http://linked.open...iv/tvurceVysledku	Szarowská, Irena
issn	1211-555X
number of pages	11 (xsd:int)
http://localhost/t...ganizacniJednotka	19520
is http://linked.open...avai/riv/vysledek of	The Cyclicality of Government Expenditure and Wagner's Law - Case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania

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