Testing the Relationship Between Government Spending and Revenue: Evidence from Gcc Countries Ugo Fasano-Filho

ISBN: 9786613825391

Published: November 1st 2002

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29 pages


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Testing the Relationship Between Government Spending and Revenue: Evidence from Gcc Countries  by  Ugo Fasano-Filho

Testing the Relationship Between Government Spending and Revenue: Evidence from Gcc Countries by Ugo Fasano-Filho
November 1st 2002 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 29 pages | ISBN: 9786613825391 | 6.46 Mb

The paper examines the direction of causality between total government expenditure and revenue in oil-dependent GCC countries by utilizing a cointegration and error-correction modeling framework, and by calculating a variance decomposition analysis.MoreThe paper examines the direction of causality between total government expenditure and revenue in oil-dependent GCC countries by utilizing a cointegration and error-correction modeling framework, and by calculating a variance decomposition analysis.

In addition, it presents impulse responses to shed light on the dynamic relation of expenditure to a revenue shock. The results confirm expectations that government spending follows oil revenue, suggesting a pro-cyclical expenditure policy to variations in oil revenue. To make budget expenditure less driven by revenue availability, the authorities could resort to a medium-term expenditure framework, so that expenditures can be planned and insulated from volatile short-term revenue availability.



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