Title Testing the relationship between government spending and revenue : evidence from GCC countries / Ugo Fasano and Qing Wang

Published [Washington, D.C.] : International Monetary Fund, ©2002

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Description 1 online resource (27 pages) : illustrations Series IMF working paper ; WP/02/201 IMF working paper ; WP/02/201. Summary The paper examines the direction of causality between total government expenditure and revenue in oil-dependent GCC countries by utilizing a cointegration and error-correction modeling framework, and by calculating a variance decomposition analysis. In addition, it presents impulse responses to shed light on the dynamic relation of expenditure to a revenue shock. The results confirm expectations that government spending follows oil revenue, suggesting a pro-cyclical expenditure policy to variations in oil revenue. To make budget expenditure less driven by revenue availability, the authorities could resort to a medium-term expenditure framework, so that expenditures can be planned and insulated from volatile short-term revenue availability Bibliography Includes bibliographical references (pages 26-27) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Government spending policy -- Persian Gulf States -- Econometric models Government spending policy -- Saudi Arabia -- Econometric models Fiscal policy -- Persian Gulf States -- Econometric models Fiscal policy -- Saudi Arabia -- Econometric models Revenue -- Persian Gulf States -- Econometric models Revenue -- Daudi Arabia -- Econometric models Budget deficits -- Persian Gulf States -- Econometric models Budget deficits -- Saudi Arabia -- Econometric models Finance, Public -- Persian Gulf States -- Econometric models Finance, Public -- Saudi Arabia -- Econometric models Budget deficits -- Econometric models Finance, Public -- Econometric models Fiscal policy -- Econometric models Government spending policy -- Econometric models Revenue Revenue -- Econometric models Persian Gulf States Saudi Arabia Form Electronic book Author Wang, Qing International Monetary Fund. Middle Eastern Department. International Monetary Fund. Policy Development and Review Department. ISBN 1283512947 9781283512947

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