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Statements

Subject Item
n2:RIV%2F47813059%3A19520%2F13%3A%230002162%21RIV14-GA0-19520___
rdf:type
skos:Concept n7:Vysledek
rdfs:seeAlso
http://www.economyofregion.com/current/2183/pdf/
dcterms:description
Economic and debt crisis has increased the attention paid to the development of government expenditure in problematic regions in the European Union. The goal of the article is to provide direct empirical evidence on cyclicality and the long-term and short-term relationship between government expenditure and output in the Portugal, Ireland, Italy, Greece and Spain in a period 1995-2011. We have applied Johansen cointegration test and the error correction model on adjusted annual data of GDP and government expenditure in compliance with the COFOG international standard. Research confirms procyclical development of government expenditure functions on GDP in the selected countries; this procyclicality is in line with development typical for developing countries. Moreover, output and government expenditure are cointegrated for at least six of the expenditure categories in every country and it implies a long-term relationship between government expenditure and output consistent with Wagner's law. The values of the coefficients for the short-run relationship between expenditure and output confirm the voracity hypothesis, as they suggest that in response to a given shock to real GDP, government expenditure rises by even more in percentage points. Economic and debt crisis has increased the attention paid to the development of government expenditure in problematic regions in the European Union. The goal of the article is to provide direct empirical evidence on cyclicality and the long-term and short-term relationship between government expenditure and output in the Portugal, Ireland, Italy, Greece and Spain in a period 1995-2011. We have applied Johansen cointegration test and the error correction model on adjusted annual data of GDP and government expenditure in compliance with the COFOG international standard. Research confirms procyclical development of government expenditure functions on GDP in the selected countries; this procyclicality is in line with development typical for developing countries. Moreover, output and government expenditure are cointegrated for at least six of the expenditure categories in every country and it implies a long-term relationship between government expenditure and output consistent with Wagner's law. The values of the coefficients for the short-run relationship between expenditure and output confirm the voracity hypothesis, as they suggest that in response to a given shock to real GDP, government expenditure rises by even more in percentage points.
dcterms:title
Relationship between government expenditure and output in the problematic regions in the European Union Relationship between government expenditure and output in the problematic regions in the European Union
skos:prefLabel
Relationship between government expenditure and output in the problematic regions in the European Union Relationship between government expenditure and output in the problematic regions in the European Union
skos:notation
RIV/47813059:19520/13:#0002162!RIV14-GA0-19520___
n7:predkladatel
n8:orjk%3A19520
n3:aktivita
n11:P
n3:aktivity
P(GAP403/11/2073)
n3:cisloPeriodika
4
n3:dodaniDat
n19:2014
n3:domaciTvurceVysledku
n20:6103952
n3:druhVysledku
n12:J
n3:duvernostUdaju
n4:S
n3:entitaPredkladatele
n10:predkladatel
n3:idSjednocenehoVysledku
102184
n3:idVysledku
RIV/47813059:19520/13:#0002162
n3:jazykVysledku
n17:eng
n3:klicovaSlova
government expenditure; cyclicality; voracity effect; Wagner´s law; COFOG classification; long-run elasticity; short-run elasticity
n3:klicoveSlovo
n6:short-run%20elasticity n6:voracity%20effect n6:cyclicality n6:government%20expenditure n6:long-run%20elasticity n6:COFOG%20classification n6:Wagner%C2%B4s%20law
n3:kodStatuVydavatele
RU - Ruská federace
n3:kontrolniKodProRIV
[C9B5D9646C86]
n3:nazevZdroje
Economy of Region
n3:obor
n15:AH
n3:pocetDomacichTvurcuVysledku
1
n3:pocetTvurcuVysledku
1
n3:projekt
n13:GAP403%2F11%2F2073
n3:rokUplatneniVysledku
n19:2013
n3:svazekPeriodika
Neuvedeno
n3:tvurceVysledku
SZAROWSKÁ, Irena
s:issn
2072-6414
s:numberOfPages
10
n9:organizacniJednotka
19520