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  • The sustainability of Fiji’s budget deficit: an econometric analysis

    Author(s)
    Narayan, Paresh Kumar
    Narayan, Seema
    Griffith University Author(s)
    Narayan, Paresh
    Year published
    2003
    Metadata
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    Abstract
    The sustainability of Fiji's budget deficit is examined here within the framework of inter-temporal budget constraint theory, where government revenue is modelled as a function of government expenditure. An error-correction mechanism test for cointegration finds that government revenue and expenditure are cointegrated, which provides some support for the position that Fiji?s budget deficit is sustainable in the long run. It is argued that more government expenditure on capital investment will ensure a broader revenue base and reduce the risk of a budget deficit explosion.The sustainability of Fiji's budget deficit is examined here within the framework of inter-temporal budget constraint theory, where government revenue is modelled as a function of government expenditure. An error-correction mechanism test for cointegration finds that government revenue and expenditure are cointegrated, which provides some support for the position that Fiji?s budget deficit is sustainable in the long run. It is argued that more government expenditure on capital investment will ensure a broader revenue base and reduce the risk of a budget deficit explosion.
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    Journal Title
    Pacific Economic Bulletin
    Volume
    18
    Issue
    2
    Publisher URI
    http://peb.anu.edu.au/
    Publication URI
    http://hdl.handle.net/10072/26943
    Collection
    • Journal articles

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