Olayeni, Olaolu Richard (2009): A Bayesian analysis of government expenditure in Nigeria.
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This paper examines the productivity of government expenditure. It adopts a Barro-type production function to chart out a growth model that accounts for the productivity of government spending and also adopts Wagner’s hypothesis to account for endogeneity resulting from fiscal expansion. The model is estimated via the Bayesian technique using the data on Nigeria. The result shows that government expenditure was unproductive in Nigeria and that this conclusion is independent of the macroeconomic environment. Neither is it dependent on the external circumstances. The paper concludes that there is need for urgent budgetary evaluation and close monitoring of the government budget in Nigeria.
|Item Type:||MPRA Paper|
|Original Title:||A Bayesian analysis of government expenditure in Nigeria|
|Keywords:||Bayesian analysis, Government expenditure, Wagner’s hypothesis, Nigeria|
|Subjects:||H - Public Economics > H5 - National Government Expenditures and Related Policies
C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C11 - Bayesian Analysis: General
|Depositing User:||Olaolu Richard Olayeni|
|Date Deposited:||01. Nov 2009 14:33|
|Last Modified:||13. Feb 2013 04:55|
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