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Structural breaks and unit roots: a further test of the sustainability of the Indian fiscal deficit

Jha, Raghbendra; Sharma, Anurag


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]

CollectionsANU Research Publications
Date published: 2001
Type: Working/Technical Paper


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