Validity of Wagner’s Law in EU Member Transition Economies: Panel Causality Analysis

نویسندگان

چکیده

One of the main issues which has been given great emphasis in economics literature, particularly since 19th century, is that relationship between public expenditure and economic growth. There are two theoretical approaches literature dealing with this relationship. The first Wagner’s law states increases as growth expands. second related to Keynesian hypothesis spending encourages In other words, while Wagner asserts causality runs from spending, Keynes claims causes study, validity Law was analyzed Dumitrescu Hurlin (2012) panel test using annual data years 1995 2019 for eleven European Union member transition economies. Our purpose study determine whether can be used an effective policy tool economies members Union. results revealed there one-way spending. valid country group period subject

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ژورنال

عنوان ژورنال: ?ktisat politikasi ara?t?rmalar? dergisi

سال: 2021

ISSN: ['2148-3876']

DOI: https://doi.org/10.26650/jepr.910662