러시아ㆍ유라시아
연구정보
Does the Budget Expenditure Composition Matter for Long-Run Economic Growth in a Resource Rich Country? Evidence from Azerbaijan
아제르바이잔 국외연구자료 기타 Khatai Aliyev Editura Universitara 발간일 : 2016-09-30 등록일 : 2016-09-30 원문링크
This study investigates the role of budget expenditure composition over Azerbaijan’s non-oil economic growth in the long-run by classifying public spending as capital, social and other expenditures. Authors’ employ ARDLBT approach to co-integration for the period of 2000Q1-2014Q4 to estimate long-run contribution of each spending category before-and-after the oil boom while controlling for oilrelated factors. Empirical results endorse the validity of long-run association among variables. Results concluded insignificant negative impact of capital expenditures, and significant negative impact of other expenditures. However, social spending has statistically and economically strong positive impact over the non-oil output growth. Therefore, research findings confirm that public expenditure composition significantly matters for long-run non-oil economic growth, and social expenditures have the greater positive impact in a resource-rich economy, Azerbaijan. Research results are highly useful for the government officials to consider while planning the expenditures in order to minimize negative response of non-oil sector to the fiscal contraction.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
| 이전글 | How Fiscal Policy Affects Non-Oil Economic Performance in Azerbaijan? | 2016-09-30 |
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| 다음글 | The Relationship of the Azerbaijan Democratic Republic and the Terek-Dagestan Re... | 2016-09-30 |
