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Testing the Relationship Between Government Spending and Revenue [electronic resource] : Evidence From GCC Countries, Wang, Qing.

Author/Creator:
Wang, Qing.
Publication:
Washington, D.C. : International Monetary Fund, 2002.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 02/201.
IMF Working Papers; Working Paper No. 02/201
Format/Description:
Government document
Book
1 online resource (27 p.)
Local subjects:
Budget constraint.
Budget expenditure.
Capital expenditure.
Central government fiscal.
Composition of expenditure.
Expenditure.
Expenditure decisions.
Expenditure framework.
Expenditure growth.
Expenditure level.
Expenditure policy.
Expenditures.
Fiscal accounts.
Fiscal adjustment.
Fiscal balance.
Fiscal deficit.
Fiscal deficits.
Fiscal imbalance.
Fiscal imbalances.
Fiscal incentives.
Fiscal indicators.
Fiscal policies.
Fiscal Policy.
Fiscal rules.
Fiscal surpluses.
Fiscal sustainability.
General.
Government expenditure.
Government expenditures.
Government revenue.
Government spending.
Medium-term expenditure.
Medium-term expenditure framework.
Public expenditure.
Public expenditure decisions.
Public Expenditures, Investment, and Finance.
Public spending.
Revenues.
Taxation.
Total expenditure.
Asia including Middle East.
Bahrain.
Kuwait.
Oman.
Qatar.
Saudi Arabia.
Summary:
The paper examines the direction of causality between total government expenditure and revenue in oil-dependent GCC countries by utilizing a cointegration and error-correction modeling framework, and by calculating a variance decomposition analysis. In addition, it presents impulse responses to shed light on the dynamic relation of expenditure to a revenue shock. The results confirm expectations that government spending follows oil revenue, suggesting a pro-cyclical expenditure policy to variations in oil revenue. To make budget expenditure less driven by revenue availability, the authorities could resort to a medium-term expenditure framework, so that expenditures can be planned and insulated from volatile short-term revenue availability.
Notes:
Description based on print version record.
Contributor:
Fasano-Filho, Ugo.
Wang, Qing.
Other format:
Print Version:
ISBN:
1451874367:
9781451874365
ISSN:
1018-5941
Publisher Number:
10.5089/9781451874365.001
Access Restriction:
Restricted for use by site license.
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