Economic Development and Government Spending: An Exploration of Wagner’s Hypothesis during Fifty Years of Growth in East Asia
by
Hassan Mohammadi * and Rati Ram
Hassan Mohammadi * and Rati Ram
Department of Economics, Illinois State University, Campus Box 4200, Normal, IL 61790-4200, USA
*
Author to whom correspondence should be addressed.
Academic Editor: Ralf Fendel
Economies 2015, 3(4), 150-160; https://doi.org/10.3390/economies3040150
Received: 9 June 2015 / Revised: 19 September 2015 / Accepted: 29 September 2015 / Published: 8 October 2015
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.
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Keywords:
Wagner’s Law; East Asia; correlation; cointegration
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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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