Economic Development and Government Spending: An Exploration of Wagner’s Hypothesis during Fifty Years of Growth in East Asia

Hassan Mohammadi and Rati Ram
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Rati Ram: Department of Economics, Illinois State University, Campus Box 4200, Normal, IL 61790-4200, USA

Economies, 2015, vol. 3, issue 4, 1-11

Abstract: Applicability of Wagner’s hypothesis to six East Asian countries is studied for a period of nearly a half-century during which their economic growth has often been termed as a “miracle”. Despite the high rates of growth in most cases, there is little indication to support the hypothesis except for Japan and possibly Korea. This finding is broadly supported by a variety of tests of cointegration using time-series as well as panel data.

Keywords: Wagner’s Law; East Asia; correlation; cointegration (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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