What is it about?
Wagner's law tests whether there is a relationship between government spending and national income in Caribbean countries; more specifically, can changes in one variable lead to changes in the other and vice versa.
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Why is it important?
This is important since government plays a large role in several key aspects of these countries' economies. There is some evidence of a causal relationship in the short run for some and long run for others.
Perspectives
This article was my first publication. In a key way it started my journey in academia. Hopefully other readers find it interesting and also insightful.
Prof Troy Lorde
University of the West Indies
Read the Original
This page is a summary of: Co-integration, causality and Wagner's law: tests for selected Caribbean countries, Applied Economics Letters, October 2004, Taylor & Francis,
DOI: 10.1080/1350485042000254881.
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