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Modelling 'productivity' of budget expenditure items before-and-after the oil boom in a resource rich country: Evidence from Azerbaijan
Authors
Khatai Aliyev
Bruce Dehning
Orkhan Nadirov
Publication date
28 February 2017
Publisher
Serials Publications
Abstract
This research investigates the "productivity" of budget expenditure items (capital, education, health, social, administration, and other expenditures) in terms of encouraging non-oil output growth in the long-run while controlling for tax revenues and oil related factors. Authors employ ARDLBT approach to cointegration for the period of 2000Q1-2014Q4 to estimate long-run impact over non-oil GDP for each expenditure item, separately, in case of Azerbaijan. Estimation results provide statistically significant and positive contribution of all expenditure items, supported by Keynesian theory. However, productivity of all type of expenditures has significantly decreased after the oil boom. Research findings are useful for policymakers to consider while allocating budget expenditures. IJER © Serials Publications
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Last time updated on 09/03/2017