Public Spending and National Income Before and After Economic Reform in China: An Application of Asymmetric Threshold Cointegration

Liang, Ching-Yang; Mao, Chih-Wen

doi:10.5539/ijef.v5n11p1

Cited by 2 publications

(2 citation statements)

References 36 publications

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“…In another development, [51] conducted a study in China using Granger-causality and Engle-Granger cointegration tests from 1960 to 2009 to examine the causal link between national income and aggregate expenditure, results empirically indicate that a long-run relationship between national income and government expenditure does exist in the pre-reform and post-reform period. Meaning that unidirectional Granger causality from national income to government expenditure is found, hence providing support for Wagner's law in China.…”

Section: Wagner's Hypothesismentioning

confidence: 99%

Public Sector Spending and Economic Growth in Nigeria: In Search of a Stable Relationship

Idris

Bakar

2017

ARJASS

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In this study, recent development in government expenditure and epistemological literatures on the relationship between public spending and economic growth in Nigeria are examined. The primary aim of this paper is to explore the relationship between government expenditure and economic growth with the view to establishing a stable relationship. In view of that, an ARDL model is employed to provide the framework for estimating the existence or otherwise of the equilibrium relationship among the examined variables. However, government as an institution that provide welfare to the populace has a major role to play in deciding where priority spending should be allocated in order to enhance the developmental process and provide sustainable growth in the growing economy. In all submissions that debated on the relationship between public sector spending and economic growth, Keynesian philosophy was among the most prominent and celebrated in contrast to Wagner's Law. Keynes regards government spending as an exogenous factor which can be utilised as a policy instrument to promote economic growth. Despite the diverse and conflicting empirical evidence on the relationship between public sector expenditure and economic growth that prevail in the literature, the empirical findings from this paper based on the estimated result from ARDL model reveals the existence of positive and significant relationship between public spending on economic growth in Nigeria. Undeniably, government expenditures are considered to be highly important in creating opportunities and widening the productive base at Review Article 2 which developing countries can grow, Nigeria is inclusive. To achieve accelerated economic growth, there is need for an in-depth and broad macroeconomic reform in the Nigerian public finance to include certain features of transparency and effectiveness in the implementation of budgetary process. An essential part of the reform policy should be the review of public sector's roles and responsibilities in the development process and concentrate on the priority areas rather than act as a substitute of the private sector. The inclusion of certain measures on the reform policy will appear satisfactory, for instance, expenditure on public goods that improves the allocative efficiency in the presence of positive externalities should be accorded high priority, including investment in infrastructure, more access to information and communication technology, expenditure on research and development, as well as diversification of the economy.

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Section: Wagner's Hypothesismentioning

confidence: 99%

Public Sector Spending and Economic Growth in Nigeria: In Search of a Stable Relationship

Idris

Bakar

2017

ARJASS

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“…He proposed that "it is necessary for architects to learn the theory of socialist realism". He advocated raising the architectural methodology of the national form to the height of support for the government [62]. He also expressed a strong interest in the methodology of the national form and issued the article, "The Characteristics of Chinese Architecture", in 1954, in which he proposed the feasibility of replacing the composition and components of Western classical architecture with those of Chinese traditional architecture, based on the translatability of classical architecture [63].…”

Section: The Influence Of the Chinese Ideological Trend On The Develo...mentioning

confidence: 99%

A Study on the Origin of China’s Modern Industrial Architecture and Its Development Strategies of Industrial Tourism

2020

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Due to the unique cultural attribution and facade aesthetics, China’s modern industrial architecture, built in the 1950s, played a significant role and expressed a specific historical value in the process of human industrial civilization. The objective of this study was to reveal the origin of China’s modern industrial architecture, meanwhile understanding the content, the channel, and the process of the global transfer of modern industrial architecture from the United States to the Soviet Union and then to China. With a literature review, we summarized the United States’ achievements of modern industrial architecture at the beginning of the 20th century and described the formation and evolution process of the Soviet Union’s modern industrial architecture from the 1920s to the 1950s. Through field investigation and measurement into China’s modern industrial plants, we comparatively analyzed the inheritance and changes among the United States, the Soviet Union, and China from the perspective of the planning concept, design theory, and structural technology. Finally, two sustainable development strategies of industrial tourism were proposed for China’s modern industrial heritage according to the comprehensive assessment, and two typical development patterns were presented based on their respective advantages.

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Public Spending and National Income Before and After Economic Reform in China: An Application of Asymmetric Threshold Cointegration

Cited by 2 publications

References 36 publications

Public Sector Spending and Economic Growth in Nigeria: In Search of a Stable Relationship

Public Sector Spending and Economic Growth in Nigeria: In Search of a Stable Relationship

A Study on the Origin of China’s Modern Industrial Architecture and Its Development Strategies of Industrial Tourism

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