balance, and the first differences of public debt. Part of this approach includes testing cointegration and causality among … tests, cointegration, and Granger causality test. This paper focuses on assessing the fiscal sustainability of four panels …

root and Westerlund (2007) cointegration tests that account for cross-sectional dependence in the series, and three panel …' integration, heterogeneous balanced panels and cases of limited evidence of cointegration. The empirical results suggested that … expenditure and output variables were non-stationary in levels and stationary in the first differences; the cointegration among …