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Njeru (2003) and Ouattara (2006) has presented the real
pictures of a certain time period of these variables in their  papers for the better clarification of the
fact that is whether foreign aid, debt and tax revenue have any impact on
government spending when any changes took place in the variables. With this one
another question rises in this circumstances that is what about South Asia. So,
working on this aspect is very logical. That’s why the research proceed with
the title Foreign Aid, Debt, Tax Revenue and Government Spending in South Asia:
A Panel Analysis.


1.4 Operational Definitions

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Current account
balance of payments: The current
account balance of payments measures the inflow and outflow of goods,
services and investment income (Investopedia, 2017).Constraint on the
executive: A measure of the extent of
institutionalized constraints on the decision-making powers of chief
executives (Glaeser, et. al., 2004).Democracy: Democracy is a system of government by whole population
or all the eligible members of a state, typically through elected
representatives (Wikipedia, 2017).Foreign aid: Foreign aid is the money that one country voluntarily
transfers to another, which can take as a gift, grant or loan
(Investopedia, 2017).GDP growth rate: GDP growth rate is basically a rate which indicates how
fast economy is growing. It does this by comparing one year of the
country’s economic output (GDP) to another year (Wikipedia, 2017).Government
spending: Government spending includes
all government consumption, investment and transfer payments (Wikipedia,
2017).Industrialization: Industrialization is the process by
which an economy is transformed from agricultural based to the
manufacturing of goods (Investopedia, 2017).Inflation: Inflation refers a sustained increase in the general
level of prices for goods and services. It is measured as an annual
percentage increase (Wikipedia, 2017).Interest rate: The proportion of a loan that is charged as interest to
the borrower, typically expressed as an annual percentage of the loan
outstanding (Investopedia, 2017).Net official
development assistance: Net official
development assistance (ODA) comprises of disbursement of loans which is
made on concessional terms that means net of payments of principal and
grants to stimulate economic development and welfare in countries and
territories of ODA recipients (Wikipedia, 2017).Political
competition: Political Competition refers
a situation in any democratic country where different parties compete for
political power (Wikipedia, 2017).Population: Population is the total number of people inhabiting in
a specific geographic area.  That
means, all the organisms that constitute a specific group live in a
particular country (Wikipedia, 2017).Tax revenue: Tax revenue is the income that is gained by
governments through taxation. It is the most important source of finance
(Wikipedia, 2017).Total debt
service: Total debt service is the
cash that is required to cover the repayment of interest and principal on
a debt for a particular period (Investopedia, 2017).Total reserve: Basically, total reserves are the assets that a bank
has immediately available to cover its liabilities. Total reserve is
measured here as the percent of the total external debt stock (Wikipedia,
2017).Trade openness: Trade Openness of a country is the sum of exports and
imports of goods and services measured as a share of gross domestic
product (Investopedia, 2017). Urbanization: Urbanization refers to the population shift from rural
to urban areas. That means the gradual increase in the proportion of
people living in urban areas compare to rural areas (Wikipedia, 2017).


Note: All the operational definitions
are taken from Glaeser, et. al., (2004), Investopedia, 2017 and Wikipedia,


1.5 Chapter Plan

This paper has been organized within
eight chapters and the organization of the paper is as follows. After a brief
introduction in chapter one, chapter two lays out the stylized facts and
reasons behind the study as well as the trends of the variables over the time
period of the selected countries. In chapter three a review of the literature
is presented. Chapter four contains the empirical methodology and a discussion
on the model specification by giving some theoretical background. Along with
these data sources and main variables is discussed in detail here. Chapter five
has been devoted to the descriptive analysis of particular facts. Chapter six
has been presented the empirical analysis along with discussion of the results.
Chapter seven contains the findings and policy implication while in the last
chapter, chapter eight the conclusion has been presented.


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