Effect of Various Categories of Government Expenditure on Economic Growth in Kenya
Keywords:
Government Expenditure, Economic Growth
Abstract
In Kenya, government expenditure has been changing tremendously in its composition and size. Noticeably, since Kenya’s independence, government expenditure has witnessed great expansion. However, the country has not achieved consistent economic growth for a long duration of time. Despite the increase in allocation of resources through increasing public spending, economic growth has not grown at the same rate. As such, economic growth did not consummate with the increase in allocation of resources through government expenditure. The study sought to determine the effect of education expenditure, defense expenditure, health expenditure and infrastructure expenditure on economic growth. It used an explanatory research design and secondary time-series data for the period between 1985 and 2018. Data on education expenditure, defense expenditure, health expenditure as well as infrastructure expenditure and economic growth was acquired from Kenya National Bureau of Statistics. The quantitative data was collected, edited and coded into Statistical software known as STATA version 14. Analysis of the quantitative data was based on descriptive as well as inferential statistics. Correlation analysis was employed to assess the strength of correlation between independent and dependent variables whereas regression analysis determined the weight of association between independent and dependent variables. Diagnostic test was performed to test for the regression model assumptions before carrying out regression analysis. The research focused on autocorrelation test, stationarity test, autocorrelation test, normality as well as heteroscedasticity test. The study revealed that education expenditure had a positive effect on economic growth in Kenya. The study found that defense expenditure had a positive effect on economic growth in Kenya. The results revealed that health expenditure had a positive effect on economic growth in Kenya. In addition, the study found that infrastructure expenditure had a positive effect on economic growth. The study concludes that government expenditure has a significant effect on economic growth in Kenya. The study policy implication of the study is that Kenyan government as well as policy makers should formulate policies and guidelines geared towards increasing education expenditure. This will help in ensuring adequacy in a trained, qualified and productive labor that is important in ensuring an improvement in economic growth. In addition, the government of Kenya should allocate at least 15 percent of their total expenditure to the healthcare so as to ensure a productive and healthy workforce. The government also needs to increase infrastructure funding as recommended by the World Bank to between 7 and 9 percent.
References
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Alexiou, C., & Nellis, J. G. (2017). Cyclical Multiplier and Zero Low Bound Effects of Government Expenditure on Economic Growth: Evidence for Greece. Australian Economic Papers, 56(2), 119–133.
Apanisile, O. T., & Okunlola, O. C. (2013). An empirical analysis of effects of defense spending on economic growth in Nigeria: a bound testing approach to cointegration 1989-2013. Journal of Public Administration, Finance and Law, 6(1), 117-130.
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Aydina, C., & Esen, Ö. (2019). Does too much government spending depress the economic development of transition economies? Evidence from dynamic panel threshold analysis. Applied Economics, 51(15), 1666–1678.
Babatunde,S.A. (2018).Government spending on infrastructure and economic growth in Nigeria. Economic Research journal, 31(1), 997-1014.
Bhattacherjee, A. (2012). Principles, Practices and Techniques Adopted in Social Science. New York: Free Press.
Boussalem, F., Boussalem, Z., & Taiba, A. (2014). The Relationship between public spending on health and economic growth in Algeria: Testing for Cointegration and Causality. International Journal of Business and Management, 2(3), 25-39.
Bryman, A. & Cramer, D. (2012). Research Methodology: Application of Statistical Packages. New York: Routledge.
Bryman, A. (2013). Integration of both Qualitative and Quantitative Data. Scientific Research Journal, 6(1), 97-113.
Chen, C., Yao, S. & Lin, Y. (2017). Optimal government investment and public debt in an economic growth model. China Economic Review (1043951X), 45, 257.
Clarke, G. R. G., & Cull, R. (2015). Bank Privatization In Argentina: A Model Of Political Constraints And Differential Outcomes. Journal of Development Economics, 78(1), 133–155.
Collis, J. & Hussey, R. (2014). Economic and Business Research. Practical Guidance for Undergraduates and Postgraduate Students in America. New York: Palgrave Macmillan.
Cosimo M., Lorenzo, G. & Marco, M. (2015). Wagner’s Law and Peacock and Wiseman’s Displacement Effect in European Union Countries: A Panel Data Study. International Journal of Economics and Financial, 5(3), 812-819.
Creswell, W.J. (2014). Research Methodology and Research designs Adopted for Analysis of Qualitative and Quantitative Data. Thousand Oaks CA: Sage.
Elmi, M. A., & O., E. K. (2018). Impact of Fiscal Policy on Economic Growth in a Developing Economy. Young Economists Journal, 15(31), 66–74.
Erçelik, G. (2018). The Relationship between Health Expenditure and Economic Growth in Turkey from 1980 to 2015. Journal of Politics, Economy and Management, 1(1), 1-8.
Fagan, G., Gaspar, V., & McAdam, P. (2016). Immanuel Kant and Endogenous Growth Theory. Scottish Journal of Political Economy, 63(5), 427–442.
Foley, D. K. (2010). Lineages of Crisis Economics from the 1930s: Keynes, Hayek, and Schumpeter. Eastern Economic Journal, 36(4), 413
Friedman, M. (1970). Counter-Revolution in Monetary Theory. Research in Economic Education, 19(7), 8 – 20.
Gandhi, V.P. (2009). Wagner's Law of Public Expenditure: Do Recent Cross-section Studies Confirm It"? Public Finance, 26(1), 203-217
Gherasim, D. (2011). The Monetarist Theory of Prices. Economy Transdisciplinarity Cognition, 14(2), 168–177.
Gisore, N., Kalio, A. & Ochieng, J. (2017). Effect of Government Expenditure on Economic Growth in East Africa: A Disaggregated Model. European Journal of Business and Social Sciences, 3(8), 289 – 304.
Henrekson, M. (2017). The Peacock and Wiseman displacement effect: A reappraisal and a new test. European Journal of Political Economy, 6(2), 245-260.
Iheanacho, E., & Iheanacho, E. (2016). The Contribution of Government Expenditure on Economic Growth of Nigeria Disaggregated Approach. International Journal of Economics & Management Sciences, 5(5)1-8.
Ilori, I. A., & Ajiboye, M. O. (2015). The impact of health expenditure on the growth of the Nigerian economy: The Ardl approach. International Journal of Economics, Commerce and Management, 3(12), 361-389.
Ilyashenko, V. V. (2014). Monetarist Theory and Inflation Processes in Russia. Economic Journal 55(5), 6–10
Ish-Shalom, P. (2006). Theory Gets Real, and the Case for a Normative Ethic: Rostow, Modernization Theory, and the Alliance for Progress. International Studies Quarterly, 50(2), 287–311.
Ismail, A. I. (2016). The Effect of Public Expenditure on Economic Growth: The Case of Kenya. Research Journal of Finance and Accounting, 6(7), 183-190.
Ismail, S. (2017). Defense Expenditure and Economic Growth in South Asian Countries: Empirical Evidences. International Journal of Economics and Financial Issues, 7(3), 318-325.
Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. London: Macmillan.
Khalid, M. A. & Noor, Z. M. (2015). Defense Expenditure and Economic Growth in Developing Countries: Evidence from System GMM Estimates. Journal of Emerging Trends in Economics and Management Sciences, 6(1):31-39.
Korkmaz, S. (2015). The Effect of Defense Spending on Economic Growth and Unemployment in Mediterranean Countries. International Journal of Economics and Financial Issues, 5(1), 273-280.
Kothari, C.R. (2012). Research Methodology, Research Design and Techniques. New Delhi: New Age International (P) Limited Publishers.
Kouton, J. (2018). Education expenditure and economic growth: Some Empirical Evidence from Côte d’Ivoire. Munich Personal RePEc Archive, 88350, 1-17.
Magazzino, C., Giolli, L. & Mele, M. (2015). Wagner’s Law and Peacock and Wiseman’s Displacement Effect in European Union Countries: A Panel Data Study. International Journal of Economics and Financial Issues, 5(3), 812-819.
Mahrous, W. (2016). Dynamic Impacts of Changes in Government Spending on Economic Growth in Kenya: A Structural VAR Analysis. European Journal of Political Economy, 6(2), 245-260.
Maingi, J. N. (2017). The Impact of Government Expenditure on Economic Growth in Kenya (1963-2008). Advances in Economics and Business, 5(12), 635-662.
Maitra, B., & Mukhopadhyay, C. K. (2012). Public spending on education, health care and economic growth in selected countries of Asia and the pacific. Asia-Pacific Development Journal, 19(2), 19-46.
Mallick, L., Das, P. K., & Pradhan, K. C. (2016). Impact of educational expenditure on economic growth in major Asian countries: Evidence from econometric analysis. Theoretical and Applied Economics, 2(23), 173-186.
Mason, P. (2014). Keynes and Our Grandchildren: Recapturing an Alternative Vision of Economic Progress. Juncture, 21(1), 25–34.
Matundura, E. (2014). The effects of public capital expenditure on economic growth in Kenya. Advances in Economics and Business, 5(12), 635-662.
Mazorodze, B. T. (2018). Government Expenditure and Economic Growth in Zimbabwe. African Journal of Business & Economic Research, 13(2), 183–202.
McDonald, I. M. (2019). Keynesian Theory and Approach to Money Wage Determination. Metro economic, 70(1), 45–67
Mercan, M., & Sezer, S. (2014). The effect of education expenditure on economic growth: The case of Turkey. Procedia - Social and Behavioral Sciences, 109(1), 925-930.
Muguro, J. W. (2017). Effect of Public Expenditure on Economic Growth in Kenya: 1963-2015. Advances in Economics and Business, 5(12), 635-662.
Musgrave, R.A. (1969). Theories of Fiscal Federalism. Public Finance, 24(4), 521-36.
Musila, J. & Belassi, W. (2004). The impact of education expenditures on economic growth in Uganda: evidence from time series data. Journal of Developing Areas, 38(1), 128-133.
Ndonga, I. K. (2014). Effects of Government Spending on Economic Growth in Kenya. American Economic Review, 51(4), 533–565.
Neil. F. (2017). Making the Grade: The Contribution of Education Expenditure to Economic Growth. Undergraduate Economic Review, 14(1), 1-15.
Ochieng, A., Shukla, J. & Okello, J.P. (2017). Effect of Government Expenditure on Economic Growth in Rwanda (2005-2015). International Journal of Economics, Commerce and Management, 5(10), 108-112.
Ochieng, A., Shukla, J., Okello, J. A., & Oduor, J. (2017). Effect of government expenditure on economic growth in Rwanda (2005-2015). International Journal of Economics, Commerce and Management, 5(10), 108-149.
Patrick, D., Larkey, C. S. & Mark, W. (2015). Theorizing about the Growth of Government: A Research Assessment. Journal of Public Policy, 1 (2), 157-220
Peacock, A.T. & Wiseman, J. (2017). Growth of Public Expenditure in the United Kingdom. London. George Allen & Unwin Ltd.
Rangongo, M. F., & Ngwakwe, C. C. (2019). Human Capital Investment and Economic Growth: A Test of Endogenous Growth Theory in Two Developing Countries. University of Pecs, Economic, 5(1), 92–107.
Ranis, G., & Fei, J. C. (2013). A Theories of Economic Development. American Economic Review, 51(4), 533–565
Renshaw, P. (2017). Was there a Keynesian Economy in the USA between 1933 and 1945? Journal of Contemporary History, 34(3), 337-245
Rosen, G. (2009). History, Policy and Economic Theory: Essays in Interaction. Journal of Economic Issues (Association for Evolutionary Economics), 25(3), 870–874.
Russell, B.R. (2013).Application of Quantitative, Qualitative and Social Research Techniques. Los Angeles: SAGE Publications.
Sahoo, G Dash, A & Nataraj, R. (2010). Infrastructure development and economic growth in China. Institute of developing economies, 261, 1-33.
Sahu, K.P. (2013). The Concept of Research Methodology: Agricultural, Social Science and other Related Disciplines Research Guide. New Delhi: Tata McGraw Hill.
Saunders, M., Lewis, P. & Thornhill, A. (2012). Business Research Techniques 6th Ed. London: Pearson Education Limited.
Seyedkazemi, M., Zayandehroodi, M., & Jalaee, A. (2017). A Study on the Efficiency of Government Spending, Optimal Fiscal Policy and Indigenous Economic Growth in Iran Economy. International Journal of Contemporary Economics & Administrative Sciences, 7(3/4), 96–118
Shah, S. A., & Xiaoqin, W. (2016). Government Expenditure, Defense Expenditure and Economic Growth: a Causality Analysis for BRICS. European Journal of Economic Studies, 18(4), 447–458.
Singpurwalla, D. (2013). Statistical Handbooks: Applied Sciences. New York: Free Press.
Smith, S.C. & Todaro, M. P. (2009). Economic Development. New York: Addison-Wesley.
Spear, S. E., & Young, W. (2018). Macroeconomic Dynamics Survey: Endogenous Growth Theory and Models: The “First Wave,” 1952–1973. Macroeconomic Dynamics, 22(6), 1695–1720.
Stournaras, C. (2010). Fiscal Expenditure and Trading Implications for Economic Growth: The Case of Greece. IUP Journal of Public Finance, 8(3), 49–72.
Trabelsi, S. (2017). Public education expenditure and economic growth: the educational quality threshold effect. Region and Development, 45(1), 100-112.
UNCTAD (2017). Data, Statistics and Trends in International Trade. Retrieved from http://unctad.org/en/Pages/DITC/Trade-Analysis/TAB-Data-and-Statistics.aspx
Wahab, A. A. O. A., Kefeli, Z., & Hashim, N. (2018). Investigating the Dynamic Effect of Healthcare Expenditure and Education Expenditure on Economic Growth in Organization of Islamic Countries (OIC). Munich Personal research Archive, 90338, 1-26.
Wilber, C. K. (2019). Empirical Verification and Theory Selection: The Keynesian-Monetarist Debate. Journal of Economic Issues, 13, (4), 973.
Wilson, J. (2010). Business Research Essentials: Guide for Conducting Research. New York: Sage Publications.
Wood, J. H. (2014). Are There Important Differences between Classical and Twenty- First-Century Monetary Theories? Did the Keynesian and Monetarist Revolutions Matter? History of Political Economy, 46(1), 117–148.
World Bank (2018). World Bank national accounts data, and OECD National Accounts data files. Retrieved from https://data.worldbank.org
Ahalid, M. A., & Razaq, M. A. J. A. (2015). The Impact of Defense Spending on Economic Growth: Evidence from the US Economy. Research Journal of Finance and Accounting, 6(7), 183-190.
Ahmed, S., & Ismail, S. (2015). Economic Growth and Defense Expenditure Linkages: A Panel Data Analysis. International Economic Policy, 2 (23), 48-72.
Ajayi, M. A., & Aluko, O. A. (2016). The Causality between Government Expenditure and Economic Growth in Nigeria: A Toda-Yamamoto Approach. Journal of Economics & Business Research, 22(2), 77–89.
Alexiou, C., & Nellis, J. G. (2017). Cyclical Multiplier and Zero Low Bound Effects of Government Expenditure on Economic Growth: Evidence for Greece. Australian Economic Papers, 56(2), 119–133.
Apanisile, O. T., & Okunlola, O. C. (2013). An empirical analysis of effects of defense spending on economic growth in Nigeria: a bound testing approach to cointegration 1989-2013. Journal of Public Administration, Finance and Law, 6(1), 117-130.
Arrow, K. J. (1962). The economic implications of learning by doing. The Review of Economic Studies. Oxford Journals, 29(3), 155–73.
Aydina, C., & Esen, Ö. (2019). Does too much government spending depress the economic development of transition economies? Evidence from dynamic panel threshold analysis. Applied Economics, 51(15), 1666–1678.
Babatunde,S.A. (2018).Government spending on infrastructure and economic growth in Nigeria. Economic Research journal, 31(1), 997-1014.
Bhattacherjee, A. (2012). Principles, Practices and Techniques Adopted in Social Science. New York: Free Press.
Boussalem, F., Boussalem, Z., & Taiba, A. (2014). The Relationship between public spending on health and economic growth in Algeria: Testing for Cointegration and Causality. International Journal of Business and Management, 2(3), 25-39.
Bryman, A. & Cramer, D. (2012). Research Methodology: Application of Statistical Packages. New York: Routledge.
Bryman, A. (2013). Integration of both Qualitative and Quantitative Data. Scientific Research Journal, 6(1), 97-113.
Chen, C., Yao, S. & Lin, Y. (2017). Optimal government investment and public debt in an economic growth model. China Economic Review (1043951X), 45, 257.
Clarke, G. R. G., & Cull, R. (2015). Bank Privatization In Argentina: A Model Of Political Constraints And Differential Outcomes. Journal of Development Economics, 78(1), 133–155.
Collis, J. & Hussey, R. (2014). Economic and Business Research. Practical Guidance for Undergraduates and Postgraduate Students in America. New York: Palgrave Macmillan.
Cosimo M., Lorenzo, G. & Marco, M. (2015). Wagner’s Law and Peacock and Wiseman’s Displacement Effect in European Union Countries: A Panel Data Study. International Journal of Economics and Financial, 5(3), 812-819.
Creswell, W.J. (2014). Research Methodology and Research designs Adopted for Analysis of Qualitative and Quantitative Data. Thousand Oaks CA: Sage.
Elmi, M. A., & O., E. K. (2018). Impact of Fiscal Policy on Economic Growth in a Developing Economy. Young Economists Journal, 15(31), 66–74.
Erçelik, G. (2018). The Relationship between Health Expenditure and Economic Growth in Turkey from 1980 to 2015. Journal of Politics, Economy and Management, 1(1), 1-8.
Fagan, G., Gaspar, V., & McAdam, P. (2016). Immanuel Kant and Endogenous Growth Theory. Scottish Journal of Political Economy, 63(5), 427–442.
Foley, D. K. (2010). Lineages of Crisis Economics from the 1930s: Keynes, Hayek, and Schumpeter. Eastern Economic Journal, 36(4), 413
Friedman, M. (1970). Counter-Revolution in Monetary Theory. Research in Economic Education, 19(7), 8 – 20.
Gandhi, V.P. (2009). Wagner's Law of Public Expenditure: Do Recent Cross-section Studies Confirm It"? Public Finance, 26(1), 203-217
Gherasim, D. (2011). The Monetarist Theory of Prices. Economy Transdisciplinarity Cognition, 14(2), 168–177.
Gisore, N., Kalio, A. & Ochieng, J. (2017). Effect of Government Expenditure on Economic Growth in East Africa: A Disaggregated Model. European Journal of Business and Social Sciences, 3(8), 289 – 304.
Henrekson, M. (2017). The Peacock and Wiseman displacement effect: A reappraisal and a new test. European Journal of Political Economy, 6(2), 245-260.
Iheanacho, E., & Iheanacho, E. (2016). The Contribution of Government Expenditure on Economic Growth of Nigeria Disaggregated Approach. International Journal of Economics & Management Sciences, 5(5)1-8.
Ilori, I. A., & Ajiboye, M. O. (2015). The impact of health expenditure on the growth of the Nigerian economy: The Ardl approach. International Journal of Economics, Commerce and Management, 3(12), 361-389.
Ilyashenko, V. V. (2014). Monetarist Theory and Inflation Processes in Russia. Economic Journal 55(5), 6–10
Ish-Shalom, P. (2006). Theory Gets Real, and the Case for a Normative Ethic: Rostow, Modernization Theory, and the Alliance for Progress. International Studies Quarterly, 50(2), 287–311.
Ismail, A. I. (2016). The Effect of Public Expenditure on Economic Growth: The Case of Kenya. Research Journal of Finance and Accounting, 6(7), 183-190.
Ismail, S. (2017). Defense Expenditure and Economic Growth in South Asian Countries: Empirical Evidences. International Journal of Economics and Financial Issues, 7(3), 318-325.
Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. London: Macmillan.
Khalid, M. A. & Noor, Z. M. (2015). Defense Expenditure and Economic Growth in Developing Countries: Evidence from System GMM Estimates. Journal of Emerging Trends in Economics and Management Sciences, 6(1):31-39.
Korkmaz, S. (2015). The Effect of Defense Spending on Economic Growth and Unemployment in Mediterranean Countries. International Journal of Economics and Financial Issues, 5(1), 273-280.
Kothari, C.R. (2012). Research Methodology, Research Design and Techniques. New Delhi: New Age International (P) Limited Publishers.
Kouton, J. (2018). Education expenditure and economic growth: Some Empirical Evidence from Côte d’Ivoire. Munich Personal RePEc Archive, 88350, 1-17.
Magazzino, C., Giolli, L. & Mele, M. (2015). Wagner’s Law and Peacock and Wiseman’s Displacement Effect in European Union Countries: A Panel Data Study. International Journal of Economics and Financial Issues, 5(3), 812-819.
Mahrous, W. (2016). Dynamic Impacts of Changes in Government Spending on Economic Growth in Kenya: A Structural VAR Analysis. European Journal of Political Economy, 6(2), 245-260.
Maingi, J. N. (2017). The Impact of Government Expenditure on Economic Growth in Kenya (1963-2008). Advances in Economics and Business, 5(12), 635-662.
Maitra, B., & Mukhopadhyay, C. K. (2012). Public spending on education, health care and economic growth in selected countries of Asia and the pacific. Asia-Pacific Development Journal, 19(2), 19-46.
Mallick, L., Das, P. K., & Pradhan, K. C. (2016). Impact of educational expenditure on economic growth in major Asian countries: Evidence from econometric analysis. Theoretical and Applied Economics, 2(23), 173-186.
Mason, P. (2014). Keynes and Our Grandchildren: Recapturing an Alternative Vision of Economic Progress. Juncture, 21(1), 25–34.
Matundura, E. (2014). The effects of public capital expenditure on economic growth in Kenya. Advances in Economics and Business, 5(12), 635-662.
Mazorodze, B. T. (2018). Government Expenditure and Economic Growth in Zimbabwe. African Journal of Business & Economic Research, 13(2), 183–202.
McDonald, I. M. (2019). Keynesian Theory and Approach to Money Wage Determination. Metro economic, 70(1), 45–67
Mercan, M., & Sezer, S. (2014). The effect of education expenditure on economic growth: The case of Turkey. Procedia - Social and Behavioral Sciences, 109(1), 925-930.
Muguro, J. W. (2017). Effect of Public Expenditure on Economic Growth in Kenya: 1963-2015. Advances in Economics and Business, 5(12), 635-662.
Musgrave, R.A. (1969). Theories of Fiscal Federalism. Public Finance, 24(4), 521-36.
Musila, J. & Belassi, W. (2004). The impact of education expenditures on economic growth in Uganda: evidence from time series data. Journal of Developing Areas, 38(1), 128-133.
Ndonga, I. K. (2014). Effects of Government Spending on Economic Growth in Kenya. American Economic Review, 51(4), 533–565.
Neil. F. (2017). Making the Grade: The Contribution of Education Expenditure to Economic Growth. Undergraduate Economic Review, 14(1), 1-15.
Ochieng, A., Shukla, J. & Okello, J.P. (2017). Effect of Government Expenditure on Economic Growth in Rwanda (2005-2015). International Journal of Economics, Commerce and Management, 5(10), 108-112.
Ochieng, A., Shukla, J., Okello, J. A., & Oduor, J. (2017). Effect of government expenditure on economic growth in Rwanda (2005-2015). International Journal of Economics, Commerce and Management, 5(10), 108-149.
Patrick, D., Larkey, C. S. & Mark, W. (2015). Theorizing about the Growth of Government: A Research Assessment. Journal of Public Policy, 1 (2), 157-220
Peacock, A.T. & Wiseman, J. (2017). Growth of Public Expenditure in the United Kingdom. London. George Allen & Unwin Ltd.
Rangongo, M. F., & Ngwakwe, C. C. (2019). Human Capital Investment and Economic Growth: A Test of Endogenous Growth Theory in Two Developing Countries. University of Pecs, Economic, 5(1), 92–107.
Ranis, G., & Fei, J. C. (2013). A Theories of Economic Development. American Economic Review, 51(4), 533–565
Renshaw, P. (2017). Was there a Keynesian Economy in the USA between 1933 and 1945? Journal of Contemporary History, 34(3), 337-245
Rosen, G. (2009). History, Policy and Economic Theory: Essays in Interaction. Journal of Economic Issues (Association for Evolutionary Economics), 25(3), 870–874.
Russell, B.R. (2013).Application of Quantitative, Qualitative and Social Research Techniques. Los Angeles: SAGE Publications.
Sahoo, G Dash, A & Nataraj, R. (2010). Infrastructure development and economic growth in China. Institute of developing economies, 261, 1-33.
Sahu, K.P. (2013). The Concept of Research Methodology: Agricultural, Social Science and other Related Disciplines Research Guide. New Delhi: Tata McGraw Hill.
Saunders, M., Lewis, P. & Thornhill, A. (2012). Business Research Techniques 6th Ed. London: Pearson Education Limited.
Seyedkazemi, M., Zayandehroodi, M., & Jalaee, A. (2017). A Study on the Efficiency of Government Spending, Optimal Fiscal Policy and Indigenous Economic Growth in Iran Economy. International Journal of Contemporary Economics & Administrative Sciences, 7(3/4), 96–118
Shah, S. A., & Xiaoqin, W. (2016). Government Expenditure, Defense Expenditure and Economic Growth: a Causality Analysis for BRICS. European Journal of Economic Studies, 18(4), 447–458.
Singpurwalla, D. (2013). Statistical Handbooks: Applied Sciences. New York: Free Press.
Smith, S.C. & Todaro, M. P. (2009). Economic Development. New York: Addison-Wesley.
Spear, S. E., & Young, W. (2018). Macroeconomic Dynamics Survey: Endogenous Growth Theory and Models: The “First Wave,” 1952–1973. Macroeconomic Dynamics, 22(6), 1695–1720.
Stournaras, C. (2010). Fiscal Expenditure and Trading Implications for Economic Growth: The Case of Greece. IUP Journal of Public Finance, 8(3), 49–72.
Trabelsi, S. (2017). Public education expenditure and economic growth: the educational quality threshold effect. Region and Development, 45(1), 100-112.
UNCTAD (2017). Data, Statistics and Trends in International Trade. Retrieved from http://unctad.org/en/Pages/DITC/Trade-Analysis/TAB-Data-and-Statistics.aspx
Wahab, A. A. O. A., Kefeli, Z., & Hashim, N. (2018). Investigating the Dynamic Effect of Healthcare Expenditure and Education Expenditure on Economic Growth in Organization of Islamic Countries (OIC). Munich Personal research Archive, 90338, 1-26.
Wilber, C. K. (2019). Empirical Verification and Theory Selection: The Keynesian-Monetarist Debate. Journal of Economic Issues, 13, (4), 973.
Wilson, J. (2010). Business Research Essentials: Guide for Conducting Research. New York: Sage Publications.
Wood, J. H. (2014). Are There Important Differences between Classical and Twenty- First-Century Monetary Theories? Did the Keynesian and Monetarist Revolutions Matter? History of Political Economy, 46(1), 117–148.
World Bank (2018). World Bank national accounts data, and OECD National Accounts data files. Retrieved from https://data.worldbank.org
Published
2021-07-17
How to Cite
Kimani, G., & Maingi, J. (2021). Effect of Various Categories of Government Expenditure on Economic Growth in Kenya. International Journal of Current Aspects in Finance, Banking and Accounting, 3(1), 21-40. https://doi.org/10.35942/ijcfa.v3i1.178
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Articles
