Tax revenue, expenditure, and economic growth: an analysis of long run relationships

Focusing on the investigation of “long-term” relationship between tax revenue, expenditure, and economic growth, this paper employs the Granger causality test and finds that the linkage between tax revenue and spending is a bi-directional causal correlation. Furthermore, applying Persyn and Westerlu...

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Tác giả chính: Su Dinh Thanh
Đồng tác giả: Nguyen Phuong Lien
Định dạng: Journal Article
Thông tin xuất bản: Trường Đại học Kinh tế Tp. Hồ Chí Minh 2017
Chủ đề:
Truy cập trực tuyến:http://digital.lib.ueh.edu.vn/handle/UEH/55210
http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=1d939851-814d-4264-b170-1700c22ddda4
http://doi.org/10.24311/jed/2017.24.3.02
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Tóm tắt:Focusing on the investigation of “long-term” relationship between tax revenue, expenditure, and economic growth, this paper employs the Granger causality test and finds that the linkage between tax revenue and spending is a bi-directional causal correlation. Furthermore, applying Persyn and Westerlund’s (2008) co-integration test allows for corroboration of existence of long-run cointegration linkages among outcome of economy and the three variables. In addition, by adopting two-step system generalized method of moments (SGMM) for a dynamic panel of 82 developed and developing countries during 16-year period (2000–2015), this research demonstrates that the impact of tax revenue and spending is substantial and ambiguous, depending on different groups of economies.