Public Expenditure and National Income: Time Series Evidence from Greece

Michael Arghyrou

Ekonomia, 2000, vol. 4, issue 2, 173-191

Abstract: The paper investigates the existence and nature of long run relationships between Greek national income and four categories of public expenditure.Our results suggest that there exists a positive long-run relationship between GDP on the one hand; and public expenditure and "productive" public consumption on the other, with causality running both ways. There appears to be no long-run relationship between GDP ans public-sector personnel expenditure; and GDP and public-debt service expenditure.From that point of view, it would appear that in terms of output growth, the fiscal policy followed by Greece during the 1975-1990 period has rather been ineffective.

JEL-codes: E0 E6 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ekn:ekonom:v:4:y:2000:i:2:p:173-191

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