Testing the Sustainability of Lebanon's Fiscal Policy (1971-2015)
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2017
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This research performs an empirical investigation on the sustainability of Lebanon’s fiscal policy. The study employs yearly data from 1971 to 2015. Using the Hakkio & Rush cointegration model, Modified Azar and Asrawi cointegration model, Original Azar and Asrawi model and accounting approach, the research gave contradicting results due to the differences in the approaches applied and the use of different combinations of data. Hakkio and Rush model included the service on debt in the expenditures variables, while Azar and Asrawi model excluded the service on debt and took the Revenues and Expenditures in terms of LBP deposits interest rates. This research concluded that with the current policy in place, it is still possible to consider sustainable and there is ability to survive based on the results.
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Tchamichian, O. A. (2017) Testing the sustainability of Lebanon's fiscal policy (1971-2015) (MBA thesis, Haigaizan University)