This study analyzes the efficiency of local public investment expenditure at Jeonnam Province and Jeonbuk Province in South Korea. Application of the Granger causality test based on VAR analysis of various time series variables suggests a significant ...
This study analyzes the efficiency of local public investment expenditure at Jeonnam Province and Jeonbuk Province in South Korea. Application of the Granger causality test based on VAR analysis of various time series variables suggests a significant Keynesian model which local public investment expenditure leads the growth of G.R.D.P. in Jeonnam Province. On the other hand, the demand of local public service(local public investment expenditure) is relatively efficient in Jeonbuk Province.