Abstract

RAMIREZ CEDILLO, Eduardo  and  LOPEZ HERRERA, Francisco. Public Spending and Growth in Latin America: Wager’s Law and Keynes’s Hypothesis. Inv. Econ [online]. 2021, vol.80, n.316, pp.109-132.  Epub Sep 27, 2021. ISSN 0185-1667.  https://doi.org/10.22201/fe.01851667p.2021.316.76314.

The relationship between economic growth and public spending in 16 Latin American countries from 1990 to 2017 is analyzed. This paper contributes to the literature on the subject focusing on the region. The results from a model of cointegrated panels support Wagner’s Law in the long term and provides partial evidence in favor of the Keynesian hypotheses in the short term.

Keywords : Wagner’s law; Keynes; growth; public expense; Latin America; H61; O23; O49; O54.

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