Beton Kalmaz, D;
Giritli, N;
(2025)
Connectedness Between Government Expenditure and Economic Growth in the UK: Evidence from Wavelet Approach.
Computational Economics
10.1007/s10614-025-10977-2.
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Abstract
This study aims to provide a vigorous vision of the connectedness of government health and education investments as a share of government expenditure with economic growth given political and/or economic risk through wavelet methodology. The empirical analyses are carried out through multiple and partial wavelet coherence techniques employing quarterly data from 1984Q1 and 2021Q4. To the best of the author’s knowledge, there is no study in related literature investigating the connectedness between human capital investment of government and economic growth considering the level of political and economic risk within the country through wavelet tools. Therefore, the main contribution of this study is to fill this gap both in academic literature and the policy arena. According to the empirical outcomes, the strongest connectedness exists between economic growth and government health investment until 2013. However, from 2018, it has been observed that economic risk and economic growth connectedness are stronger in the short and medium run, as in the case of the UK.
| Type: | Article |
|---|---|
| Title: | Connectedness Between Government Expenditure and Economic Growth in the UK: Evidence from Wavelet Approach |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1007/s10614-025-10977-2 |
| Publisher version: | https://doi.org/10.1007/s10614-025-10977-2 |
| Language: | English |
| Additional information: | Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. |
| Keywords: | Economic growth, UK, Political risk, Economic risk, Multiple wavelet coherence, Partial wavelet coherence |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Maths and Physical Sciences UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Maths and Physical Sciences > Dept of Statistical Science |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10208467 |
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