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Fiscal Expenditure Policy and Non-Oil Economic Growth: Evidence from GCC Countries

Author/Editor: Fasano-Filho, Ugo | Wang, Qing
Authorized for Distribution: December 1, 2001
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: Through the use of a multivariate cointegration and error-correction model, this study investigates the short- and long-run relationship over the past two decades between fiscal expenditure policy and non?oil real GDP growth in member countries of the Gulf Cooperation Council (GCC). Despite the important role of the government, the empirical results do not strongly support that increases in fiscal expenditures tend to slow or accelerate non?oil real growth in these countries. However, the breakdown into current and capital expenditures is useful for assessing the effects of each spending category on short- and long-run non?oil real GDP growth.
 
Series: Working Paper No. 01/195
Subject(s): Fiscal policy | Cooperation Council for the Arab States of the Gulf | Economic growth | Economic models
Author's keyword(s): fiscal policy | non-oil real growth | GCC countries
 
English  
    Published:   December 1, 2001        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA1952001   Pages:   21
    Price:   US$15.00
       
     
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