Government Revenues and Expenditures in Guinea-Bissau: Causality and Cointegration

Carneiro, Francisco; Faria, Jo�ão Ricardo; Barry, Boubacar Sid

doi:10.2139/ssrn.574143

Cited by 23 publications

(16 citation statements)

References 21 publications

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“…There is argument that many empirical studies have confirmed that the primary explanation of inter-country differences in economic growth is the share of gross national product (GNP) devoted to investment; and that despite the increasing integration of the world capital markets, the rates of investment in the major industrial countries especially, are closely related to their rates of saving (Feldstein & Bacchetta, 1991;Feldstein, 1995). Intuitively, if investment has positive impact on income and hence government revenue, then saving has the same positive influence, particularly if saving enhances investment (Baghestani & McNown, 1994;Zagler & Durnecker, 2003;Baghestani & McNown, 1994;Carneiro et al, 2005). This is indirect way saving can affect revenue but the other way is direct if there are taxes levied on savings, including contribution of financial institutions to government revenue.…”

Section: Implications Of Growth Saving and Investment On Tax Revenuementioning

confidence: 84%

“…6, No. 11;2014 effect on budget balance and overall fiscal stance will not have been offset though (Carneiro et al, 2005). Fiscal deficit is particularly considered with exclusion of grants in our analysis, and the reason is because domestic capacity and effort that SSA has attributed to revenue generation and public financing is the major focus of this paper.…”

Section: Output Growth and Fiscal Status Of Sub-saharan Africamentioning

confidence: 99%

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Fiscal Dividend from Saving, Investment and Per Capita Income Growth in Sub-Saharan Africa: Panel Data Analysis

Aikaeli¹

2014

IJEF

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Most of sub-Saharan Africa countries (SSA) have recorded impressive rates of growth and remained resilient to shocks especially during the recent past. Nevertheless, the status of social welfare has remained low as manifested by poor quality of standard of living and short longevity of life. In cognisance of the role of public sector to wellbeing through the fiscal arrangement, the objective of this study was to unearth the extent to which SSA have taken advantage of the achieved saving, investment and growth performance to enhance fiscal gains. Panel data analysis of 40 countries was done and results indicated that per capita income growth, total investment and gross national saving bolstered governments' revenue and thus reduced budget deficits in SSA, except in the global economic crisis during which, only saving yielded significant fiscal dividend in terms of cushioning the revenue. In view of this, enhancing national savings (both public and private) in SSA can appropriate surpassing return to fiscal stance.

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Section: Implications Of Growth Saving and Investment On Tax Revenuementioning

confidence: 84%

Section: Output Growth and Fiscal Status Of Sub-saharan Africamentioning

confidence: 99%

Fiscal Dividend from Saving, Investment and Per Capita Income Growth in Sub-Saharan Africa: Panel Data Analysis

Aikaeli¹

2014

IJEF

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“…Chang and Ho (2002) find a cointegrating relationship between gross domestic product (GDP), government's revenues and expenditures, and also unidirectional causality running from government's revenues to expenditure over the period 1967 to 1999. Furthermore, Carneiro et al (2005) investigate this issue for Guinea-Bissau over the period 1981 to 2002 and find spend-and-tax possibility. Keho (2010) studies the data from 1960 to 2005 of European area to analyze the cause and effect relationship between government's expenditure and revenue collection and finds unidirectional causality from government's revenue to expenditure.…”

Section: Literature Reviewmentioning

confidence: 99%

The Short and Long Run Effects of Selected Variables on Tax Revenue - A Case Study

Siami‐Namini¹,

Muhammad²,

Fahimullah³

2018

AEF

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The main objective of this article is to empirically examine the short and long-run relationship between real tax revenue and real local government expenditure as well as investigate the relationship between real sales tax revenue and real individual tax revenue and selective variables in Washington, D.C. for the period ranging from 1984-2015. The study uses the Johansen co-integration techniques as well as the bivariate and multivariate vector error correction model (VECM). The results indicate that there is a unidirectional and one-way causality running from real local government expenditure to the real DC’s tax revenue in the short and long-run, but not vice versa. The finding indicates that DC’s tax revenue changes local government expenditure. As a result, budget deficits can be avoided by implementing policies that stimulate DC’s tax revenue. The Granger-causality test shows that DC resident employment does affect real individual tax in the short and long-run, simultaneously. The Granger-causality test shows that DC resident employment, household’s population and stock of housing does affect real sales tax revenue in the short and long-run simultaneously. Furthermore, the results of the impulse response function (IRF) indicate that household’s population and stock of housing are the major short-run effect on the real individual income tax and real sales tax revenue.

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“…Segundo Carneiro et al (2005), os resíduos da equação de longo prazo, provenientes do cálculo de cointegração, são utilizados no cálculo de causalidade entre as variáveis, por meio do mecanismo de correção de erro (ECM).…”

Section: Técnicas De Análise De Séries Temporaisunclassified

Modelo ARMA-GARCH e precedência temporal entre índices acionários

Angelico

Oliveira

2016

GEPROS

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Diante da necessidade da avaliação de risco de ativos financeiros, investidores demandam métodos de modelagem sofisticados que possam inferir a respeito da variabilidade de suas aplicações. Ao mesmo tempo, a globalização financeira tem sido caracterizada por movimentos e tendências comuns entre diversos mercados internacionais. Nesse contexto, o presente trabalho teve como objetivo modelar a volatilidade estatística do Índice Bovespa e do Dow Jones Industrial Average Index, por meio de ajustes ARMA-GARCH, além de averiguar a existência de equilíbrio de longo praazo e precedência temporal entre essas variáveis, por meio dos testes de co-integração de Johansen e causalidade de Granger, respectivamente. Os resultados mostraram uma variância heterogênea superior para o indicador brasileiro e a existência de precedência temporal para o índice americano, apesar da ausência de equilíbrio de longo prazo entre as séries. Entende-se que esse último comportamento pode ter sido causado pela diferença existente entre as heterocedasticidades condicionais de cada índice.

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Government Revenues and Expenditures in Guinea-Bissau: Causality and Cointegration

Cited by 23 publications

References 21 publications

Fiscal Dividend from Saving, Investment and Per Capita Income Growth in Sub-Saharan Africa: Panel Data Analysis

Fiscal Dividend from Saving, Investment and Per Capita Income Growth in Sub-Saharan Africa: Panel Data Analysis

The Short and Long Run Effects of Selected Variables on Tax Revenue - A Case Study

Modelo ARMA-GARCH e precedência temporal entre índices acionários

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