Open research questions in Fiscal Policy and Economic Growth
56 unresolved questions extracted from the limitations and future-work sections of 2,291 Fiscal Policy and Economic Growth papers in our library. Each links back to the study that raised it.
What the literature leaves open
It also addresses a gap in the knowledge of the role of the regional stock exchanges, like BRVM, in offering long-term liquidity to construction. The study also addresses a gap in the knowledge of how the high-tech construction is sensitive to real exchange rate movements in the emerging markets.
Macro-Financial Drivers and Spatial Dynamics of Construction Investment in African Regional Blocs · 2026 · DOIFuture research may explore several extensions of this framework. These include: ● Developing quantitative methods for classifying mixed-purpose expenditures. ● Examining how individuals perceive investments versus purchases in behavioral ● economics. Investigating whether clearer conceptual distinctions improve financial literacy and decision-making. ● Comparing this framework with classifications used in accounting, finance, and public policy. Such studies may help determine the educational value and practical usefulness of the proposed framework. 20. Summary of Part 3 This section has demonstrated that the proposed framework has practical applications across multiple disciplines. Through examples, case studies, and comparisons with established economic concepts, it has shown that emphasizing the purpose of expenditure provides a consistent and intuitive method for distinguishing investments from purchases. The discussion also acknowledges the framework's limitations and identifies directions for future research, positioning it as a conceptual and educational contribution rather than a replacement for existing economic theory.
The high and statistically significant autocorrelation indicated that the data can exhibit non-stationarity or the presence of a unit root, which should be further investigated using appropriate statistical tests. The moderate positive correlation between tariff (TARR) and interest rate (INTR) suggests Surajdeen Tunde Ajagbe, Tajudeen Adejare Adegbite 24 a potential link between these two factors, which could be further investigated.
Several policy lessons can be drawn from the findings of this study. Fundamentally, there is the need for policy intervention in terms of Nigeria government and other stakeholders in the countries in the following area: The empirical findings of this study show that money supply has a positive impact on economic growth in IRE 1718720 ICONIC RESEARCH AND ENGINEERING JOURNALS 714 -30-20-1001020309698000204060810121416182022CUSUM5% Significance-0.4-0.20.00.20.40.60.81.01.21.40204060810121416182022CUSUM of Squares5% Significance © JUN 2026 | IRE Journals | Volume 9 Issue 12 | ISSN: 2456-8880 DOI: https://doi.org/10.64388/IREV9I12-1718720 moving average (VARMA) approach. Applied Economics, 35(10), 1219-1 Dickey D., Fuller W. (1979). – « Distribution of the Estimator for Autoregressive Time series with a Unit Root », Journal of the American Statistical Association, 74, pp. 427-431. Ehigiamusoe, U. K. (2013).
These mixed results complicate the assumptions of human capital theory, which predicts positive returns from investment in human capital development, and are better explained through general systems theory, which views expenditure as an input that must be effectively converted, through institutional processes, into outputs.
The impact of government expenditure on student performance: Evidence of graduate outcomes in South African higher education institutions · 2025 · DOIThis article contributes to filling a gap in the literature because to date researchers have focused on the cases of large, heavily populated European Union countries, but the research into the impact of state aid on the Central and Eastern EU economies, where the level of state aid as percentage of GDP is higher than the EU average, is still scarce.
Military expenditure cannot be an effective tool of fiscal policy (government revenue and expenditure to regulate the economy), from the results of the study both short-run and long-run impact are negative, hence, the role of military sector should be limited to the maintenance of internal law and order as well as the defence of the country against any form of external aggression.
The paper present the features of the underground economy in Romania and the factors’ contribution to its formation: undeclared labour of the formal sector (enterprises), value added tax evasion, and the under-reported incomes of the small entrepreneurs’ sector (family associations and self-employed).
UNDERGROUND ECONOMY AND THE TAX EVASION IN ROMANIA · 2014While the macroeconomic determinants of FDI have been analysed to a considerable extent in past empirical work, the role of institutional factors such as the protection of property rights and the efficiency of the legal system has been underexplored.
FOREIGN DIRECT INVESTMENT IN ZIMBABWE: THE ROLE OF INSTITUTIONAL AND MACROECONOMIC FACTORS · 2011 · DOIHowever, for the examined sub– categories of expenditure mixed results were reported supporting Keynesian theory (NIP), Wagner’s Law (OTHER) or none of them (HR and PR).
Causality analysis between public expenditure and economic growth of Polish economy in last decade · 2010 · DOIThis finding is generally robust across alternative variable specifications, alternative estimation procedures, alternative ways of dividing the data into "five-year" periods, and across different time periods and Bureau of Economic Analysis (BEA) regions, though state-specific estimates vary widely.
The challenge of defining the public sector for comparative purposes is explored and illustrated, especially with respect to the treatment of non-profits, and a number of intriguing similarities and differences in the comparative evolution of the public sectors are identified that remain to be explained.
Just How Much Bigger Is Government in Canada? A Comparative Analysis of the Size and Structure of the Public Sectors in Canada and the United States, 1929–2004 · 2007 · DOIremains The analysis shows that the contribution of own revenue to strengthening the financial system of Panchayats remains marginal, as the amount of taxes and fees collected is insufficient to meet revenue expenditure.
In Côte d'Ivoire, its substantial contribution to national output is acknowledged, but estimates vary widely due to disparate methodological approaches, obscuring accurate fiscal and economic planning.
The Informal Sector's Contribution to National Output: A Comparative Analysis of Measurement Methodologies in Côte d'Ivoire (2020–2026) · 2026 · DOIAbstract Research background Capital investment financing has been cited as a critical element in economic growth the world over although there is no consensus regarding the significance, direction, and magnitude of the relationship.
Foreign Direct Investment, Gross Capital Formation, Foreign Remittances, and Economic Growth in Zimbabwe · 2023 · DOIAbstract Many empiric analyses on the topic of the progression exist and despite their often contradictory results governments still include their conclusions in to their tax policies.
It was emphasized that the overwhelming majority of scholars use three factors of influence (land, labour, capital) and their derivatives in the "old", "new" and regional economic development models, which is insufficient in the current conditions of economic systems at the macro-and mesolevel.
Transformation of Approaches to Determine Influence Factors in the Economic Development Models · 2019 · DOIAs exports are a proven way to further economic growth, this study fills a vital gap in the literature by ascertaining the degree of impact of remittances in influencing outbound exports from the South Asian region.
World real income exerts significant effect on aggregate exports, similar arguments could not be established when the manufacturing export sector is considered in isolation.
Explaining Nigeria’s Economic Growth: Balance of Payments Constrained Growth Approach With External and Internal Imbalances · 2019 · DOIThough most studies have provided evidence confirming the Keynesian assumption of a long-run association between government spending and total output, there appear to be no consensus on the predictive powers embedded in the two variables.
Total Production and Public Spending in Nigeria: a Re-examination of Keynesian and Wagner’s Views · 2018Considering current fiscal challenges in the country, research findings are very useful for policy purposes and fills the gap in the literature by drawing mechanism of the association and estimating the relationship empirically.
Modelling Oil-Sector Dependency of Tax Revenues in a Resource Rich Country: Evidence from Azerbaijan · 2017 · DOIThe contradictory findings confirmed that the Feldstein-Horioka saving-retention coefficient is unlikely, a viable option of measuring cross-border capital mobility.
Feldstein-Horioka Puzzle and International Capital Mobility in High Income Countries: A Pool Mean Group Approach · 2014 · DOIThe differentiated effects of government consumption on private consumption and investment among geographical areas are extremely important and need to be further investigated.
The Impact of Government Spending on the Private Sector: Crowding-out versus Crowding-in Effects · 2011 · DOITests of this implication have yielded mixed results, especially on micro data (Angus Deaton, 1992; Martin Browning and Annamaria Lusardi, 1996).
It remains to be seen whether state and local tax structures can or will adjust to capitalize on their potential and whether this growth will be sufficient to offset expenditure pressures likely associated with these demographic shifts.
Most-cited papers in Fiscal Policy and Economic Growth
- The Response of Household Consumption to Income Tax Refunds · American Economic Review · 1999 · 435 citations
- Remittances and economic growth: A meta-analysis · World Development · 2020 · 199 citations
- Urbanization, transportation infrastructure, ICT, and economic growth: A temporal causal analysis · Cities · 2021 · 186 citations
- From E-budgeting to smart budgeting: Exploring the potential of artificial intelligence in government decision-making for resource allocation · Government Information Quarterly · 2021 · 113 citations
- Tax revenue and mobile money in developing countries · Journal of Development Economics · 2022 · 102 citations
- The Intertemporal Keynesian Cross · Journal of Political Economy · 2024 · 80 citations
- The Robust Relationship between Taxes and U.S. State Income Growth · National Tax Journal · 2008 · 77 citations
- Do corporate tax cuts boost economic growth? · European Economic Review · 2022 · 73 citations
- Measuring Human Capital · The Journal of Economic Perspectives · 2022 · 73 citations
- The real effects of public investment on private investment · Applied Economics · 1993 · 65 citations
Most recent work
- Does financial development spur labor productivity? Evidence on the moderating roles of FDI and capital accumulation · Journal of Economic Studies · 2026
- Economic complexity and shadow economy in Africa: An assessment of nonlinearity and asymmetry · Economics and Business Review/The Poznań University of Economics Review · 2026
- Indirect Taxation and Economic Growth in Nigeria: A Time Series Analysis from 1994 to 2024 · Zenodo (CERN European Organization for Nuclear Research) · 2026
- Cascades of Tax Policy Through Production Networks: Evidence From Japan · Southern Economic Journal · 2026
- Corporate Income Tax, A Panacea for Sustainable Economic Growth in Nigeria · Zenodo (CERN European Organization for Nuclear Research) · 2026
- The Causal Effect of Rural Road Connectivity on Household Welfare in India: A Regression Discontinuity Analysis of the Pradhan Mantri Gram Sadak Yojana · Journal of Economic Insights and Research (JEIR) · 2026
- Demasiado tarde para ser perdoada? : uma análise sintética sobre o impacto de uma renegociação da dívida pública · Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT) · 2026
- Public Spending and Economic Growth Nexus: Recent Evidence from Nigeria · Open MIND · 2026
- Fiscal Policy Instruments and Economic Development in Nigeria · Open MIND · 2026
- Optimal income taxes and tariffs in a small economy · European Economic Review · 2026
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