Testing the relationship between government spending and revenue : evidence from GCC countries /

Testing the relationship between government spending and revenue : evidence from GCC countries /

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Bibliographic Details
Author / Creator:	Fasano-Filho, Ugo, 1956-
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2002.
Description:	1 online resource (27 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/02/201 IMF working paper ; WP/02/201.
Subject:	Government spending policy -- Persian Gulf States -- Econometric models. Government spending policy -- Saudi Arabia -- Econometric models. Fiscal policy -- Persian Gulf States -- Econometric models. Fiscal policy -- Saudi Arabia -- Econometric models. Revenue -- Persian Gulf States -- Econometric models. Revenue -- Daudi Arabia -- Econometric models. Budget deficits -- Persian Gulf States -- Econometric models. Budget deficits -- Saudi Arabia -- Econometric models. Finance, Public -- Persian Gulf States -- Econometric models. Finance, Public -- Saudi Arabia -- Econometric models. Budget deficits -- Econometric models. Finance, Public -- Econometric models. Fiscal policy -- Econometric models. Government spending policy -- Econometric models. Revenue. Revenue -- Econometric models. Middle East -- Persian Gulf States. Saudi Arabia.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497482

Hidden Bibliographic Details
Other authors / contributors:	Wang, Qing. International Monetary Fund. Middle Eastern Department. International Monetary Fund. Policy Development and Review Department.
ISBN:	1283512947 9781283512947
Notes:	Includes bibliographical references (pages 26-27). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
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.
Other form:	Print version: Fasano-Filho, Ugo, 1956- Testing the relationship between government spending and revenue. [Washington, D.C.] : International Monetary Fund, ©2002