نوع مقاله : مقاله پژوهشی
نویسندگان
1 دانشیار دانشکده علوم اداری و اقتصادی دانشگاه فردوسی مشهد
2 استادیار دانشکده علوم اداری و اقتصادی دانشگاه فردوسی مشهد
3 دانشجوی دوره دکتری اقتصاد دانشگاه اصفهان
کلیدواژه‌ها
عنوان مقاله English
نویسندگان English
This paper investigates the interaction effects and the causal relationship between government consumption expenditures on goods and services and non-oil gross domestic product for a panel of 9 selected OPEC countries over the period of 1970-2006. In the multivariate framework, three control variables; inflation, openness and oil revenues are used as control variables to avoid the problem of omitted variables bias. Using econometric techniques including panel cointegration, and panel generalized method of moment; three sets of results have been obtained: first, there is a strong evidence of positive bidirectional causality between non-oil economic growth and government size in the short-run; there is a positive unidirectional causality running from non-oil economic growth to government size in the long-run; the results of the strong causality confirm those of the short-run causality. Based on these findings, both Wagner’s law and Keynes view are supported. Second, inflation and oil revenues have negative and significant impacts non-oil economic growth; the impact of openness on non-oil economic growth is statistically insignificant. Third, inflation and openness have negative and significant impacts on government size, while a positive and significant impact is found for oil revenues.
JEL classification: C33, H11, O40
کلیدواژه‌ها English
| تعداد مشاهده مقاله | 2,146 |
| تعداد دریافت فایل اصل مقاله | 1,121 |
