期刊
JOURNAL OF THE KNOWLEDGE ECONOMY
卷 10, 期 2, 页码 695-710出版社
SPRINGER
DOI: 10.1007/s13132-017-0484-y
关键词
Government expenditures; Government revenues; Natural disasters; Economic growth; Panel VAR; Panel unit roots; Granger causality
类别
This paper examines the dynamic links between government budgets (government expenditures and revenues), natural disaster, and three key macroeconomic indicators; economic growth, inflation rate, and government debt. By studying the annual data for high- and middle-income countries over 1990-2013 and employing a panel vector autoregressive model for detecting Granger causality, we find that there is a big correlation between these variables, including unidirectional causality between natural disasters and government debt. For middle-income countries there is a unidirectional causality from natural disasters to government expenditures. Thus, there is a unidirectional causality between natural disasters and economic growth and government revenues for high- and middle-income countries.
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