TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA

Nine versions of Wagner's law are examined employing annual time-series data on Bolivia for the period 1940-2010. The analysis is an advance over previous work in several ways. First, the stationarity properties and the order of integration of the data are investigated using the Augmented Dicke...

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Autor principal:	BOJANIC,ANTONIO N
Lenguaje:	English
Publicado:	ILADES. Universidad Alberto Hurtado. 2013
Materias:	Wagner law unit roots cointegration Error Correction models
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702013000100002
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spelling	oai:scielo:S0718-887020130001000022013-07-23TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATABOJANIC,ANTONIO N Wagner law unit roots cointegration Error Correction models Nine versions of Wagner's law are examined employing annual time-series data on Bolivia for the period 1940-2010. The analysis is an advance over previous work in several ways. First, the stationarity properties and the order of integration of the data are investigated using the Augmented Dickey-Fuller and the Phillips and Perron tests. Second, the hypothesis of a long-run relationship between different types of government expenditures and income is tested employing the methodology of cointegration analysis. Third, Error Correction Models are utilized to determine the direction of causality between the variables of interest. Lastly, the study comprises a period of seventy years, the longest of its kind for Bolivia. Consistent with Wagner's proposition, bidirectional causality is found between income and government expenditures in six of the nine versions of the law.info:eu-repo/semantics/openAccessILADES. Universidad Alberto Hurtado.Revista de análisis económico v.28 n.1 20132013-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702013000100002en10.4067/S0718-88702013000100002
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Wagner law unit roots cointegration Error Correction models
spellingShingle	Wagner law unit roots cointegration Error Correction models BOJANIC,ANTONIO N TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA
description	Nine versions of Wagner's law are examined employing annual time-series data on Bolivia for the period 1940-2010. The analysis is an advance over previous work in several ways. First, the stationarity properties and the order of integration of the data are investigated using the Augmented Dickey-Fuller and the Phillips and Perron tests. Second, the hypothesis of a long-run relationship between different types of government expenditures and income is tested employing the methodology of cointegration analysis. Third, Error Correction Models are utilized to determine the direction of causality between the variables of interest. Lastly, the study comprises a period of seventy years, the longest of its kind for Bolivia. Consistent with Wagner's proposition, bidirectional causality is found between income and government expenditures in six of the nine versions of the law.
author	BOJANIC,ANTONIO N
author_facet	BOJANIC,ANTONIO N
author_sort	BOJANIC,ANTONIO N
title	TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA
title_short	TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA
title_full	TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA
title_fullStr	TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA
title_full_unstemmed	TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA
title_sort	testing the validity of wagner's law in bolivia: a cointegration and causality analysis with disaggregated data
publisher	ILADES. Universidad Alberto Hurtado.
publishDate	2013
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702013000100002
work_keys_str_mv	AT bojanicantonion testingthevalidityofwagnerslawinboliviaacointegrationandcausalityanalysiswithdisaggregateddata
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TESTING THE VALIDITY OF WAGNER'S LAW IN BOLIVIA: A COINTEGRATION AND CAUSALITY ANALYSIS WITH DISAGGREGATED DATA

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