Herrera and Prats (2020)
|
2000-01 to 2019-20
|
20 European Union
|
Panel data unit root tests and panel ARDL model and Dumitrescu and Hurlin test
|
Fiscal Sustainability hold in the short-run
|
Serju-Thomas (2020)
|
1997:04 to 2018:04
|
Jamaica
|
OLS, VAR-VECM, GMM and IMF debt sustainability analysis (DSA) framework
|
Fiscal Sustainability hold
|
Akram and
Rath (2019)
|
1997Q1-2013Q3
|
India
|
Unit root test, Markov Switching-
VECM and threshold regression model
|
Fiscal sustainability hold during
low fiscal deficit period only
|
Akram and
Rath (2019)
|
1980–2017
|
Indian States
|
Unit root test, Johansen Cointegration
test, DOLS, Panel Unit root test and Pedroni cointegration test
|
Strong fiscal sustainability
hold for majority of the states
|
Magazzino and Mutascu (2019)
|
1862-63 to 2013-14
|
Italy
|
Wavelet Analysis
|
Fiscal Sustainability hold in the long-run
|
Magazzino (2019)
|
1980-81 to 2015-16
|
Canada, France, Germany, Japan, UK, US, Italy
|
Panel data unit root tests and panel cointegration tests
|
Fiscal Sustainability hold in G7 countries
|
Brady and Magazzino (2018)
|
1980-81 to 2015-16
|
28 European Countries
|
Panel data unit root tests and panel cointegration tests, FMOLS, Granger causality test
|
Fiscal Sustainability hold
|
Baharumshah et al. (2017)
|
1980-81 to 2014-15
|
Malaysia
|
Markov-switching intercept autoregressive heteroskedasticity error correction model
|
Fiscal Sustainability hold
|
Shastri et al.
(2017)
|
1985-86 to 2014-15
|
India, Pakistan, Bangladesh, Sri Lanka, Nepal
|
Unit root test and Gregory
and Hansen approach, Carrion-i-Silvestre and Sanso test, ARDL model and ECM
|
Fiscal Sustainability hold
|
Shastri and
Sahrwat (2015)
|
1980–2013
|
India
|
Cointegration and ARDL
|
Fiscal sustainability not hold
|
Chen (2014)
|
1980-81 to 2012-13
|
Canada, France, Germany, Japan, UK, US, Greece, Ireland, Italy, Portugal, Spain
|
TAR and MTAR unit root test, LSTR-TAR and LSTR-MTAR unit root test
|
Fiscal Sustainability hold for Canada, Germany, the US and Italy
|
Tronano (2013)
|
1950–2010
|
India`
|
Engle and Granger approach,
Johansen Cointegration approach and
Gregory and Hansen approach
|
Weak fiscal sustainability hold
|
Fincke and Greiner (2012)
|
Mixed time periods
|
Austria, France, Germany, Italy, the Netherlands and Portugal.
|
Unit root test and p-spline estimation
|
Fiscal Sustainability hold
|
Ehrhart and Llorca (2008)
|
`1975-76 to 1999-00
|
Egypt, Israel, Lebanon, Morocco, Tunisia and Turkey
|
Panel data unit root tests and panel cointegration tests
|
Fiscal Sustainability hold in all the countries
|
Payne et al. (2008)
|
1968-69 to 2004-05
|
Turkey
|
Unit root test, Johansen-Juselius Co-integration Tests, Granger-causality test, Gregory Hansen Co-integration Test, TAR and MTAR models
|
Fiscal Sustainability hold
|
Baharumshah and Lau (2007)
|
1975Q1 to 2003Q2
|
Malaysia, Thailand, Singapore, Korea and Thailand
|
Unit root test, Johansen-Juselius and Gregory Hansen Co-integration Test, DOLS and Toda-Yamamoto Granger non-causality model
|
Fiscal Sustainability hold in Thailand and Korea only
|
Bajo-Rubio et al. (2006)
|
1964–2003 & 1982:1–2004:1
|
Spain
|
Unit root test & Threshold Cointegration test
|
Weak fiscal sustainability hold
|
Goyal et al. (2004)
|
1951–2000
|
India
|
Unit root test, Johansen-Jusileius
maximum likelihood method and
Gregory and Hansen approach
|
Fiscal sustainability is unsustainable
for both Centre and State governments
separately but combined finances are
sustainable
|
Jha and
Sharma (2004)
|
1871–1921 &
1950–1997
|
India
|
Unit root test and Gregory
and Hansen approach
|
Fiscal sustainability hold
|
Pattnaik et al. (2003)
|
1990–2001
|
India
|
Unit root test and Deterministic
Simulation
|
Weak fiscal sustainability hold
|
Lahiri and
Kannan (2002)
|
1981–2001
|
India
|
Indicator-based analysis
|
Fiscal sustainability not hold
|
Olekalns and
Cashin (2000)
|
1951–1997
|
India
|
Unit root test, Engle-Granger
Two Step model and Gregory and
Hansen approach
|
Fiscal sustainability not hold
|
Payne (1997a)
|
Mixed time periods
|
Canada, France, Germany, Japan, UK, US, Italy
|
Unit root tests and Engle-Granger cointegrating regressions
|
Fiscal Sustainability hold in all countries except France and Japan
|
Quintos (1995)
|
1947Q2 to 1992Q3
|
US
|
Unit root test and Johansen Co-integration Tests,
|
Fiscal Sustainability hold
|