Sostenibilidad fiscal: una aproximación con datos panel para 8 países Latinoaméricanos

Campo Robledo, Jacobo (2011): Sostenibilidad fiscal: una aproximación con datos panel para 8 países Latinoaméricanos.

Abstract

This paper examines the hypothesis of fiscal sustainability for 8 Latin American countries. Using panel data models, we determined whether the revenue and primary expenditure of governments are sustainable in the long run. We used second generation panel data unit root and cointegration tests, which allows for cross-sectional dependence among countries, as well as possible structural breaks. In particular, we used Hadri and Rao (2008) unit root test and Westerlund (2006) cointegration test. We found empirical evidence that the primary deficit in the 8 Latin American countries is sustainable in a weak sense in the period under study.

• Item Type: MPRA Paper
• English Title: Fiscal sustainability: A data panel approach for eight Latin American countries
• Language: Spanish
• Keywords: Sostenibilidad fiscal, Raíces unitarias en panel, Cointegración en panel, Latinoamérica
• Subjects: H - Public Economics > H6 - National Budget, Deficit, and Debt > H60 - General; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C33 - Panel Data Models ; Spatio-temporal Models

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