Testing Wagner's law for Turkey: Evidence from a trivariate causality analysis
Prague Economic Papers, ISSN: 1210-0455, Vol: 22, Issue: 2, Page: 284-301
2013
- 10Citations
- 19Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
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Article Description
The purpose of this study is to analyse the relationship between government expenditure and economic growth in Turkey. The study tests the validity of Wagner's law by applying autoregressive distributed lag (ARDL) cointegration technique using annual data over 1950-2010 period. In order to fi nd out the possible impact of omitted variables, we fi rst tested the standard bivariate versions of Wagner's law. In the next step by including a third variable - infl ation ratio - the analysis extended on a trivariate system. The fi ndings of each testing procedure indicate that omitted variables matter. Since, while there exists no long-run relationship between the variables in the fi rst step of the testing procedure, a long-run correlation is found in the second step. The differences of this paper from the earlier studies testing the Law for Turkey are that, the causal link is examined within a trivariate framework and non-interest government expenditure is considered instead of total government expenditures.
Bibliographic Details
http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=84880649327&origin=inward; http://dx.doi.org/10.18267/j.pep.452; http://pep.vse.cz/doi/10.18267/j.pep.452.html; https://dx.doi.org/10.18267/j.pep.452; http://pep.vse.cz/artkey/pep-201302-0008_testing-wagner-s-law-for-turkey-evidence-from-a-trivariate-causality-analysis.php
Prague University of Economics and Business
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