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1 décembre 2015
- handle: 10670/1.9o3380
Ce document est lié à :
10.7764/LAJE.52.2.213
info:eu-repo/semantics/openAccess
Mots-clés
Fiscal sustainability Latin America panel cointegration fiscal synchronization intertemporal budget constraintsSujets proches
Synchronism Sustainability scienceCiter ce document
Paul Alagidede et al., « ON THE SUSTAINABILITY AND SYNCHRONIZATION OF FISCAL POLICY IN LATIN AMERICA », Latin American Journal of Economics, ID : 10670/1.9o3380
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Résumé
This paper explores the sustainability of fiscal policy for a panel of Latin American countries over the period 1990-2012. We extend the literature on the causal relationship between government expenditure (GX) and revenue (GR) in the short run and long run. Our results show a significant long-run relationship between GX and GR, suggesting that fiscal policies are consistent with their intertemporal budget constraints. We establish bidirectional causality between revenue and expenditure in the long run, indicating a contribution from both GX and GR in establishing steady state equilibrium following substantial deviations. Our data also uphold the fiscal synchronization thesis.