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Economies 2015, 3(4), 150-160; doi:10.3390/economies3040150

Economic Development and Government Spending: An Exploration of Wagner’s Hypothesis during Fifty Years of Growth in East Asia

Department of Economics, Illinois State University, Campus Box 4200, Normal, IL 61790-4200, USA
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Author to whom correspondence should be addressed.
Academic Editor: Ralf Fendel
Received: 9 June 2015 / Revised: 19 September 2015 / Accepted: 29 September 2015 / Published: 8 October 2015
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Abstract

Applicability of Wagner’s hypothesis to six East Asian countries is studied for a period of nearly a half-century during which their economic growth has often been termed as a “miracle”. Despite the high rates of growth in most cases, there is little indication to support the hypothesis except for Japan and possibly Korea. This finding is broadly supported by a variety of tests of cointegration using time-series as well as panel data. View Full-Text
Keywords: Wagner’s Law; East Asia; correlation; cointegration Wagner’s Law; East Asia; correlation; cointegration
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Mohammadi, H.; Ram, R. Economic Development and Government Spending: An Exploration of Wagner’s Hypothesis during Fifty Years of Growth in East Asia. Economies 2015, 3, 150-160.

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