Public revenue, fiscal deficit and economic growth: Evidence from Asian countries

Jeeban Amgain, Nanda Kumar Dhakal
{"title":"Public revenue, fiscal deficit and economic growth: Evidence from Asian countries","authors":"Jeeban Amgain, Nanda Kumar Dhakal","doi":"10.1453/JEPE.V4I4.1482","DOIUrl":null,"url":null,"abstract":"This paper examines the impact of public revenue and fiscal deficit on economic growth in 20 Asian Countries. We use panel Autoregressive Distributed Lag Model (ARDL) to estimate both the short-run and long-run impact of the fiscal variables. The results indicate that fiscal deficit adversely affect growth both in short-run and long-run. In the long-run, deficit finance leads to debt accumulation which is also negatively associated with growth. However, panel ARDL results show that revenue is positively associated with growth in the long-run. In absence of fiscal deficit, public revenue influences positively on growth in the long-run. The impact of revenue in the short-run is not significant. The findings have important policy implication in fiscal sector reform. As the developing countries in Asia are more dependent on fiscal deficit, special care has to be taken in raising public revenue to ensure desirable results. The research suggests that in the case of Asian countries where revenue level is already low and deficit is persistent, raising revenue would reduce the debt level, contributing to higher growth.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"62 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2017-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economics and Political Economy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1453/JEPE.V4I4.1482","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 3

Abstract

This paper examines the impact of public revenue and fiscal deficit on economic growth in 20 Asian Countries. We use panel Autoregressive Distributed Lag Model (ARDL) to estimate both the short-run and long-run impact of the fiscal variables. The results indicate that fiscal deficit adversely affect growth both in short-run and long-run. In the long-run, deficit finance leads to debt accumulation which is also negatively associated with growth. However, panel ARDL results show that revenue is positively associated with growth in the long-run. In absence of fiscal deficit, public revenue influences positively on growth in the long-run. The impact of revenue in the short-run is not significant. The findings have important policy implication in fiscal sector reform. As the developing countries in Asia are more dependent on fiscal deficit, special care has to be taken in raising public revenue to ensure desirable results. The research suggests that in the case of Asian countries where revenue level is already low and deficit is persistent, raising revenue would reduce the debt level, contributing to higher growth.
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
公共收入、财政赤字和经济增长:来自亚洲国家的证据
本文考察了20个亚洲国家公共收入和财政赤字对经济增长的影响。我们使用面板自回归分布滞后模型(ARDL)来估计财政变量的短期和长期影响。结果表明,财政赤字在短期和长期都对经济增长产生不利影响。从长期来看,赤字财政导致债务积累,这也与经济增长呈负相关。然而,面板ARDL结果显示,从长期来看,收入与增长呈正相关。在没有财政赤字的情况下,公共收入对经济增长的长期影响是积极的。收入在短期内的影响并不显著。研究结果对财政部门改革具有重要的政策意义。由于亚洲发展中国家更加依赖财政赤字,因此必须特别注意提高公共收入,以确保取得理想的结果。研究表明,对于收入水平已经很低且赤字持续存在的亚洲国家来说,增加收入将降低债务水平,从而促进更高的增长。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
自引率
0.00%
发文量
0
期刊最新文献
The determinants of the intermediate products export: The case of Switzerland Bank credit and transmission mechanisms of monetary policy in Uganda The contribution of human capital to the economic development of Cameroon, 1980-2018 Are they willing to participate? A review on behavioral economics approach to voters turnout Financialization and political economy of financial regulation in Uganda
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1