Wagner and the fading voracity effect : short vs. long-run effects in developing countries
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/18762 |
Resumo: | This paper empirically revisits the validity of Wagner’s proposition in a panel of 149 developing countries between 1980-2015 by focusing on different components of government expenditure. We rely on an ARDL approach which allow us to uncover short and long-run cyclicality coefficients. Our results do not overwhelmingly support the existence of higher than unity long-run elasticities of government spending components vis-a-vis economic growth, suggesting that the Wagner’s regularity is more the exception than the norm. Moreover, the case for voracity is fading away as developing countries catch-up the development ladder and graduate from procyclicality. In fact, most short-run elasticities are countercyclical. Finally, some macroeconomic and institutional and political characteristics affect the degree of government spending cyclicality. |
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Wagner and the fading voracity effect : short vs. long-run effects in developing countriesgovernment expenditurefiscal policygovernment sizepolitical economymean grouppanel stationaritycross-sectional dependencyweighted least squaresautoregressive distributed lagThis paper empirically revisits the validity of Wagner’s proposition in a panel of 149 developing countries between 1980-2015 by focusing on different components of government expenditure. We rely on an ARDL approach which allow us to uncover short and long-run cyclicality coefficients. Our results do not overwhelmingly support the existence of higher than unity long-run elasticities of government spending components vis-a-vis economic growth, suggesting that the Wagner’s regularity is more the exception than the norm. Moreover, the case for voracity is fading away as developing countries catch-up the development ladder and graduate from procyclicality. In fact, most short-run elasticities are countercyclical. Finally, some macroeconomic and institutional and political characteristics affect the degree of government spending cyclicality.ISEG - REM - Research in Economics and MathematicsRepositório da Universidade de LisboaJalles, João Tovar2019-11-19T10:26:52Z2019-112019-11-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/18762engJalles, João Tovar (2019). "Wagner and the fading voracity effect : short vs. long-run effects in developing countries". Instituto Superior de Economia e Gestão – REM Working paper nº 0101 - 20192184-108Xinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:48:19Zoai:www.repository.utl.pt:10400.5/18762Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:03:45.976167Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
title |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
spellingShingle |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries Jalles, João Tovar government expenditure fiscal policy government size political economy mean group panel stationarity cross-sectional dependency weighted least squares autoregressive distributed lag |
title_short |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
title_full |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
title_fullStr |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
title_full_unstemmed |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
title_sort |
Wagner and the fading voracity effect : short vs. long-run effects in developing countries |
author |
Jalles, João Tovar |
author_facet |
Jalles, João Tovar |
author_role |
author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Jalles, João Tovar |
dc.subject.por.fl_str_mv |
government expenditure fiscal policy government size political economy mean group panel stationarity cross-sectional dependency weighted least squares autoregressive distributed lag |
topic |
government expenditure fiscal policy government size political economy mean group panel stationarity cross-sectional dependency weighted least squares autoregressive distributed lag |
description |
This paper empirically revisits the validity of Wagner’s proposition in a panel of 149 developing countries between 1980-2015 by focusing on different components of government expenditure. We rely on an ARDL approach which allow us to uncover short and long-run cyclicality coefficients. Our results do not overwhelmingly support the existence of higher than unity long-run elasticities of government spending components vis-a-vis economic growth, suggesting that the Wagner’s regularity is more the exception than the norm. Moreover, the case for voracity is fading away as developing countries catch-up the development ladder and graduate from procyclicality. In fact, most short-run elasticities are countercyclical. Finally, some macroeconomic and institutional and political characteristics affect the degree of government spending cyclicality. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-11-19T10:26:52Z 2019-11 2019-11-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/18762 |
url |
http://hdl.handle.net/10400.5/18762 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Jalles, João Tovar (2019). "Wagner and the fading voracity effect : short vs. long-run effects in developing countries". Instituto Superior de Economia e Gestão – REM Working paper nº 0101 - 2019 2184-108X |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
ISEG - REM - Research in Economics and Mathematics |
publisher.none.fl_str_mv |
ISEG - REM - Research in Economics and Mathematics |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131129273384960 |