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Panel cointegration tests of the sustainability hypothesis in rich OECD countries

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Author

Summary, in English

This study reexamines the sustainability hypothesis by testing whether government revenues and expenditures for eight rich OECD countries between 1977Q1 and 2005Q4 are cointegrated. For this purpose, a nonstationary panel data approach is adopted, which is general enough to permit for cross-country dependence as well as structural breaks representing major shifts in fiscal policy. In contrast to many earlier studies, the results reported in this study suggest that the sustainability hypothesis cannot be rejected.

Publishing year

2010

Language

English

Pages

1355-1364

Publication/Series

Applied Economics

Volume

42

Issue

11

Document type

Journal article

Publisher

Routledge

Topic

  • Business Administration

Status

Published

ISBN/ISSN/Other

  • ISSN: 1466-4283