러시아ㆍ유라시아
연구정보
How Fiscal Policy Affects Non-Oil Economic Performance in Azerbaijan?
아제르바이잔 국외연구자료 기타 Khatai Aliyev Editura Universitara 발간일 : 2016-09-30 등록일 : 2016-09-30 원문링크
The role of fiscal policy in promoting economic growth has been subject to many studies since its suggestion by Keynes who stated expansionary/contractionary impact of public expenditures/taxes. In this context, effectiveness of fiscal policy use to develop non-oil sector in resource rich economies should be studied. This paper investigates short- and long-run effects of budget expenditures and tax related budget revenues (direct transfers from oil fund excluded) over non-oil GDP while controlling for oil price volatility and oil production in case of Azerbaijan. Autoregressive Distributed Lag Bounds Testing (ARDLBT) Approach to cointegration is employed for data covering 2000Q1-2015Q2. Estimation results theoretically consistent and statistically significant long-run effects of both budget expenditures and tax-related budget revenues. However, in the short-run, the effects are contrary to the theoretical expectations. Findings are useful for Azerbaijan fiscal policy makers especially in the current complicated nature of economic processes in the economy due to oil related challenges.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
| 이전글 | Testing the Rentier State Theory: The Case of Azerbaijan | 2016-08-01 |
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| 다음글 | Does the Budget Expenditure Composition Matter for Long-Run Economic Growth in a... | 2016-09-30 |
