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Testing Wagner’s Law in Selected OIC Member States Evidence from Panel Cointegration Tests
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Ali Hossein Samadi *   , Kobra Abolhasan Beigi |
| , asamadi@rose.shirazu.ac.ir |
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Abstract: (8807 Views) |
| This paper studies the validity of Wagner law in selected OIC (Organization of Islamic Conference) member states by classifying them based on their income levels and degrees of corruption. For doing so, the Pesaran Cross-sectional Dependency (CD) test, cross-sectional augmented ADF (CADF) as well as Wasteland and Edgerton's panel co integration tests have been employed. To estimate the coefficients, the continuous-updated and fully modified (CUP-FM) estimator has been used. The results confirm validity of Wagner law in all economies, having different income levels and corruption degrees. |
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| Keywords: Wagner’s Law, Cross-Sectional Dependency, Cross-Sectional Augmented ADF (CADF), Panel Co Integration, Continuously Updated and Fully-Modified Estimator (Cup-FM), OIC Member States. |
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Type of Study: Research |
Subject:
Special
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