Wagner’s Law can describe the relationship between government expenditures and economic growth.However,its applicability in China remains controversial.In this paper,we first reconstruct two government expenditure in...Wagner’s Law can describe the relationship between government expenditures and economic growth.However,its applicability in China remains controversial.In this paper,we first reconstruct two government expenditure indicators based on the disadvantages of current fiscal expenditure indicators to explain the government scale and then use these indicators to test the applicability of Wagner’s Law in China.Results showed that data from the indicators could support Wagner’s Law well when considering numerical increases in expenditures from 1989 to 2012.However,in terms of relative size of government expenditures proportional increases with the model,the test results of current expenditure indicator do not support the applicability of Wagner’s Law in China.At the same time test results with the two kinds of reconstruction of indicators both can support it well.Overall,the empirical results indicate that new expenditure indicators are more appropriate in testing the applicability of Wagner’s Law in China.展开更多
In response to the current decline in housing sales, Zhengzhou, capital of central China’s Henan Province, issued 17 measures to boost the local property market in late October. The local government announced that it...In response to the current decline in housing sales, Zhengzhou, capital of central China’s Henan Province, issued 17 measures to boost the local property market in late October. The local government announced that it would purchase unsold apartments and then give them to low-income families who are eligible for public housing.展开更多
文摘Wagner’s Law can describe the relationship between government expenditures and economic growth.However,its applicability in China remains controversial.In this paper,we first reconstruct two government expenditure indicators based on the disadvantages of current fiscal expenditure indicators to explain the government scale and then use these indicators to test the applicability of Wagner’s Law in China.Results showed that data from the indicators could support Wagner’s Law well when considering numerical increases in expenditures from 1989 to 2012.However,in terms of relative size of government expenditures proportional increases with the model,the test results of current expenditure indicator do not support the applicability of Wagner’s Law in China.At the same time test results with the two kinds of reconstruction of indicators both can support it well.Overall,the empirical results indicate that new expenditure indicators are more appropriate in testing the applicability of Wagner’s Law in China.
文摘In response to the current decline in housing sales, Zhengzhou, capital of central China’s Henan Province, issued 17 measures to boost the local property market in late October. The local government announced that it would purchase unsold apartments and then give them to low-income families who are eligible for public housing.
