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Economic Growth of West African Countries and the Validity of Wagner's Law: A Panel Analysis
2016
Asian Journal of Economics and Empirical Research
The volume of public expenditure has been on the rise especially in the developing economies and this has renewed the argument among economists on the validity of Wagner's law. Whereas for Keynes, the increase is needed to stimulate aggregate demand for economic growth to take place, Wagner opine that public expenditure is a consequence rather than cause of national productivity hence; it plays no role in the growth of an economy. For the West African Economies, which of these economic concepts
doi:10.20448/journal.501/2016.3.1/501.1.71.83
fatcat:gdzmuibthba6nbfmjwejpvgnhm