Structural breaks and unit roots: a further test of the sustainability of the Indian fiscal deficit
Jha, Raghbendra; Sharma, Anurag
Description
If public expenditure and public revenue are I(0) public debt is sustainable but if these are I(1) and not cointegrated or have a cointegrating vector different from [1, -1] the public debt is said to be unsustainable. Extant work indicates that India’s public debt is unsustainable. We re-investigate this issue by allowing for endogenous structural breaks for two data sets - the British period 1871-1921 and the post independence period 1950-1997. Revenue and expenditure series (nominal as well...[Show more]
Collections | ANU Research Publications |
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Date published: | 2001 |
Type: | Working/Technical Paper |
URI: | http://hdl.handle.net/1885/40611 http://digitalcollections.anu.edu.au/handle/1885/40611 |
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jha_sharma.pdf | 202.32 kB | Adobe PDF |
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