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2016 | 70 | 8--13
Tytuł artykułu

Impact of Fiscal Deficit on Inflation in Sri Lanka: An Econometric Time Series Analysis

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
There is a relationship between the fiscal deficit and inflation, which was confirmed empirically in several studies conducted in many countries. Sri Lanka has been encountering the problem of inflation for the recent years. But in Sri Lanka, this proposition has not yet been studied scientifically. Therefore, this study was going to fill this gap. The objective of this study was to test the impact of fiscal deficit on inflation in Sri Lanka. For this study, the annual time series data were used during the period of 1959 to 2013. The fiscal deficit, exchange rate, government expenditures and import outflow were used as independent variables while the Colombo consumer price index was considered as dependent variable which was proxy variable for inflation of Sri Lanka. In addition, the multiple regressions model was used to test the impact of fiscal deficit on inflation. Based on the regression results, the fiscal deficit preserved the positive relationship with inflation in Sri Lanka at one percent significant level. Therefore, this study confirmed that the fiscal deficit accelerates the inflation in Sri Lanka. (original abstract)
Słowa kluczowe
Rocznik
Tom
70
Strony
8--13
Opis fizyczny
Twórcy
  • Ministry of National Policy Planning, Sri Lanka
  • South Eastern University of Sri Lanka
Bibliografia
  • A. Alavirad, S. Athawale, The impact of the budget deficit on inflation in the Islamic Republic of Iran, Organization of the petroleum Exporting Countries (OPEC) Review, (2005). DOI: 10.1111/j.0277-0180.2005.00142.x
  • A.A. Protopapadakis, J.J. Siegel, Are Money Growth and Inflation Related to Government Deficit: Evidence from Ten Industrialized Economies, Journal of International Money and Finance. 6 (1987) 31-48. DOI: 10.1016/0261-5606(87)90011-8
  • A. L. Mohamed Aslam, Impact of Money Supply on Sri Lankan Economy: An Econometric Analysis, International Letters of Social and Humanistic Sciences. 67 (2016) 11-17. DOI: 10.18052/www.scipress.com/ilshs.67.11
  • A. L. Mohamed Aslam, Tax Revenue and Government Expenditure in Sri Lanka: an Econometric AEG Testing Approach, International Letters of Social and Humanistic Sciences. 66(2016) 31-37. DOI: 10.18052/www.scipress.com/ilshs.66.31
  • Central Bank Annual report Central Banka of Sri Lanka, Colombo, (2014).
  • I. Lonzano, Budget deficit, money growth and inflation: evidence from the Colombia case, Journal of Barradores de Economica. 537 (2008).
  • J.D. Haan, D. Zelhorst, The impact of government deficit on money growth in developing countries, Journal of International Money and Finance. 9 (1990) 455-469. DOI: 10.1016/0261-5606(90)90022-r
  • M. Albert, The impact of a budget deficit on inflation in Zimbabwe, Munich Personal Re PEc Archive. 24227 (2008).
  • M. Solomon, W.A. De Wet, The effect of budget deficit on inflation: the case of Tanzania, South Africa Journal of Economic and Management. 7: 1 (2004) 100-116.
  • O.C. Akcay, C.E. Alper, S Ozmucur, Budget deficit, money supply and inflation: Evidence from low and high frequency data for Turkey, Department of Economics, Bogazici Universit, (1996).
  • S.W. Barnhart, A. F Darrart, Federal deficit and money growth in United States, Journal of Banking and Financing. 13 (1989) 137-149.
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.ekon-element-000171505109

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