The Efficacy of Fiscal Vs Monetary Policies in the Asia-Pacific Region: The St. Louis Equation Revisited-Reference-Cited by-同舟云学术

The Efficacy of Fiscal Vs Monetary Policies in the Asia-Pacific Region: The St. Louis Equation Revisited

Published:2021-11-20 Issue: Volume: Page:097226292110541
ISSN:0972-2629
Container-title:Vision: The Journal of Business Perspective
language:en
Short-container-title:Vision

Author:

Mahanty Ghanashyama¹,Dwivedi Dwijendra Nath²^ORCID,Gopalakrishnan Badri Narayanan³

Affiliation:

1. Utkal University, Vani Vihar, Bhubaneswar, Odisha, India

2. Cracow University of Economics, Kraków, Lesser Poland Voivodeship, Poland

3. School of Environmental and Forestry Sciences, University of Washington, Seattle, Washington, USA

Abstract

This study’s main objective is to assess the relative importance of fiscal and monetary policies on the Asia-Pacific Economies. We have empirically investigated both the original St. Louis equation and its expanded version to study the comparative relevance of one over the other. Our empirical results indicate that both monetary and fiscal policies are essential in promoting economic growth. In both models, monetary policy is more effective than fiscal policy. In the expanded St. Louis model, exports, exchange rate and inflation variables substantially impact gross domestic product than the conventional monetary and fiscal measures.

Publisher

SAGE Publications

Subject

Strategy and Management,Business and International Management

Link

http://journals.sagepub.com/doi/pdf/10.1177/09722629211054148

Reference36 articles.

1. St. Louis Equation Restrictions and Criticisms Revisited: Note

2. On the Effectiveness of Monetary Policy and of Fiscal Policy

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