178
Views
9
CrossRef citations to date
0
Altmetric
Articles

Testing the Robustness of Public Spending Determinants on Public Spending Decisions in Nigeria

Pages 65-87 | Received 19 Jun 2018, Accepted 03 Jan 2019, Published online: 24 Jan 2019

References

  • 2018 Budget Speech: “Budget of Consolidation”. Delivered by President Muhammadu Buhari President, Federal Republic of Nigeria at the joint session of the National Assembly, Abuja. 7th of November, 2017.
  • Akanbi, O. A. (2014). Government expenditure in Nigeria: Determinants and trends. Mediterranean Journal of Social Sciences, 5(27), 98–107.
  • Akbari, J., Bakhtiari, S., Sameti, M., & Ranjbar, H. (2017). The Re-analysis of the relationship between government’s income and expenditure in an oil-based economy with TVPFAVAR approach (Iran as the case of study). International Journal of Energy Economics and Policy, 7(2), 243–249.
  • Aladejare, S. A. (2013). “Government spending and economic growth: Evidence from Nigeria,” MPRA paper 43916. Munich: University Library of Munich. Available online at http://mpra.ub.uni-muenchen.de/43916/
  • Aladejare, S. A., & Ani, E. (2012). Revisiting the government revenue-expenditure nexus: Evidencefrom Nigeria based on the VAR Granger causality approach from Nigeria based on the VAR Granger causality approach. doi: 10.2139/ssrn.2186947
  • Aregbeyen, O. O., & Akpan, U. F. (2013). Long-term determinants of government expenditure: A disaggregated analysis for Nigeria. Journal of Studies in Social Sciences, 5(1), 31–87.
  • Aregbeyen, O. O., & Fasanya, I. S. (2017). Oil price volatility and fiscal behaviour if government in Nigeria. Asian Journal of Economic Modelling, 5(2), 118–134.
  • Aregbeyen, O., & Kolawole, B. O. (2015). Oil revenue, public spending and economic growth Relationships in Nigeria. Journal of Sustainable Development, 8(3), 113–123.
  • Baghestani, H., & Mcnown, R. (1994). Do revenues or expenditures respond to budgetary disequilibria? Southern Economic Journal, 61(2), 311–322.
  • Brown, R. L., Durbin, J., & Evans, J. M. (1975). Techniques for testing the constancy of regression relationships over time. Journal of the Royal Statistical Society: Series B (Methodological), 37(2), 149–163.
  • Buchanan, J., & Wagner, R. W. (1978). Dialogues concerning fiscal religion. Journal of Monetary Economics, 4, 627–636.
  • Campbell, J. Y., & Thompson, S. B. (2008). Predicting the equity premium out of sample: Can anything beat the historical average? Review of Financial Studies, 21, 1509–1531.
  • Central Bank of Nigeria Statistical Bulletin. (2016).
  • Christiano, L. J. (1992). Searching for a break in GNP. Journal of Business and Economic Statistics, 10, 237–249.
  • Dickey, D. A., & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74(366), 427–431.
  • Dritsaki, C. (2018). Causality between spending and revenue in case of Greece through Toda and Yamamoto methodology. Journal of Business and Economic Policy, 5(1), 9–21.
  • Ekpung, E. G., & Ekpenyong, A. V. (2013). An empirical analysis of the structure and growth of Federal government expenditure in Nigeria. Journal of Economics and Sustainable Development, 4(15), 38–50.
  • El Anshasy, A. A., & Bradley, M. D. (2012). Oil prices and the fiscal policy response in oil-exporting countries. Journal of Policy Modeling, 34(5), 605–620.
  • Eslava, M. (2005). Political Budget Cycles or Voters as Fiscal Conservatives? Evidence from Colombia, Universidad de Los Andes Working Paper, Bogota, Colombia.
  • Friedman, M. (1978). The limitations of tax limitation: Policy review from a state. Public Finance Quarterly, 18(1), 92–103.
  • Gelb, A. (1988). Oil windfalls: Blessing or curse. Washington, DC: World Bank, Oxford University Press.
  • Gemmell, N., Morrissey, O., & Pinar, A. (1999). Fiscal illusion and the demand for government expenditures in the UK. European Journal of Political Economy, 15, 687–704.
  • Hayat, U., Takrim, K., & Hussain, I. (2017). An empirical analysis of fiscal policy hypothesis: Finding the most suitable for Pakistan? PUTAJ-Humanities and Social Sciences, 24(2), 59–70.
  • Irandoust, M. (2017). Government spending and revenues in Sweden 1722-2011: Evidence from hidden cointegration. Empirica, 44(2), 1–15.
  • Jiranyakul, K. (2017). Is the Thai Government Revenue-Spending Nexus Asymmetric? Online at https://mpra.ub.uni-muenchen.de/83163/MPRAPaperNo.83163
  • John, G., Nelson, P., & Reetu, V. (2007). Unit roots test and structural breaks: A survey with applications. REVISTA DE METODOS CUANTITATIVOS PA RA LA ECONOMIA Y LA EMPRESA, 3, 63–79.
  • Lee, J., & Strazicich, M. C. (2003). Minimum Lagrange multiplier unit root test with two structural breaks. Review of Economics and Statistics, 85(4), 1082–1089.
  • Lumsdaine, R. L., & Papell, D. H. (1997). Multiple trend breaks and the unit-root hypothesis. Review of Economics and Statistics, 79(2), 212–218.
  • Mahdavi, S. (2004). Shifts in the composition of government spending in response to external debt burden. World Development, 32(7), 1139–1157.
  • Mauro, P. (1998). Corruption and the composition of government expenditure. Journal of Public Economics, 69(2), 263–279.
  • Meltzer, A. H., & Richard, S. F. (1981). A rational theory of the size of government. Journal of Political Economy, 89(5), 914–927.
  • Musgrave, R. (1966). Principles of budget determination. In H. Cameron & W. Henderson (Eds.), Public finance: Selected Readings (pp. 15–27). New York: Random House.
  • Ndoricimpa, A. (2017). Analysis of asymmetries in the tax-spending nexus in Burundi. Journal of Economics and Political Economy, 4(1), 53–70.
  • Olayungbo, D. O. (2013). Government spending and inflation in Nigeria: An asymmetry causality test. International Journal of Humanities and Management Sciences, 1(4), 238–242.
  • The Organisation of Petroleum Exporting Countries Annual Statistical Bulletin. (2016).
  • Peacock, A. T., & Wiseman, J. (1979). Approaches to the analysis of government expenditure growth. Public Finance Quarterly, 7, 3–23.
  • Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57, 1361–1401.
  • Persson, T., & Tabellini, G. (1999). The size and scope of government: Comparative politics with rational. European Economic Review, 43(4/6), 699–735.
  • Pesaran, M. H., & Shin, Y. (1999). An autoregressive distributed lag modelling approach to cointegration analysis. In S. Storm (Ed.), Econometrics and economic theory in the 20th century: The Ragnar Frisch centennial symposium (pp. 371–413). Cambridge: Cambridge University Press.
  • Pesaran M. H., S., Smith, Y., & J, R. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16, 289–326.
  • Rapach, D. E., Strauss, J. K., & Zhou, G. (2010). Out-of-sample equity premium prediction: Combination forecasts and links to the real economy. Review of Financial Studies, 23, 821–862.
  • Rodden, J. (2003). Reviving Leviathan: Fiscal Federalism and the growth of government. International Organization, 57, 695–729.
  • Salisu, A. A., & Isah, K. O. (2017). Revisiting the oil price and stock market nexus: A nonlinear Panel ARDL approach. Economic Modelling, 66, 258–271.
  • Samal, A. (2017). Tax and spend, spend and tax or fiscal synchronization in India: Evidence from ARDL bound testing approach. The Empirical Economics Letters, 16(8), 773–782.
  • Shelton, C. A. (2007). The size and composition of government expenditure. Journal of Public Economics, 91, 2230–2260.
  • Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014). Modeling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. In W. C. Horrace & R. C. Sickles (Eds.), Festschrift in Honor of Peter Schmidt: Econometric methods and applications (pp. 281–314). New York: Springer Science & Business Media.
  • Shonchoy, A. S. (2010). Determinants of Government Consumption Expenditure in Developing Countries: A Panel Data Analysis, Institute of Developing Economies (IDE) Discussion Paper, No. 266, Japan.
  • Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66, 225–250.
  • Uchenna, E., & Evans, O. S. (2012). Government expenditure in Nigeria: An examination of tri-theoretical mantras. Journal of Economic and Social Research, 14(2), 27–52.
  • Vergne, C. (2009). Democracy, elections and allocation of public expenditures in developing countries. European Journal of Political Economy, 25, 63–77.
  • Wolde-Rufael, Y. (2005). Energy demand and economic growth: The African experience. Journal of Policy Modeling, 27, 891–903.
  • World Bank World Development Indicator. (2017).
  • Yinusa, D. O., & Adedokun, A. (2017). Fiscal synchronisation or institutional separation: An examination of tax-spend hypothesis in Nigeria. Journal of Finance and Accounting, 5(3), 80–87.
  • Zivot, E., & Andrews, K. (1992). Further evidence on the Great Crash, the oil price shock, and the unit root hypothesis. Journal of Business and Economic Statistics, 10(10), 251–270.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.