Trade, Education Externalities and Economic Growth: Evidence from Nigeria

Owoeye, Taiwo

doi:10.9790/5933-0803043846

Cited by 10 publications

(14 citation statements)

References 14 publications

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“…Thus, instability in the realisation of petroleum profit tax, company income tax, custom and excise duty tax and value added tax stimulate disequilibrium in the level of economic growth in Nigerian. The results are consistent with those of Bukie and Adejumo (2011), Oshiobugie and Akpokerere (2019), Ewa et al (2020), Kingsley (2014), Ojong et al (2016), Akwe (2010), Yahaya and Yusuf (2009), Ojong et al (2016), Bukie and Adejumo (2011), Oshiobugie and Akpokerere (2019), Ewa et al (2020), Kingsley (2014. However, the results are inconsistent with that of Asaolu et al (2018) in that they did not find any significant relationship between petroleum profit tax and economic growth.…”

Section: Discussion Of Findingssupporting

confidence: 86%

“…Taxation is a non-penal levy imposed by the government on the profits, income, or consumption of its citizens through its agent. (Ojong et al, 2016).…”

Section: Concept Of Taxationmentioning

confidence: 99%

“…The main objective of taxation is to raise revenue to meet government expenditure and to redistribute wealth and management of the economy (Ojong et al, 2016). Anyanwu (1993) pointed out that there are three basic objectives of taxation.…”

Section: Concept Of Taxationmentioning

confidence: 99%

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Impact of Oil and Non-oil Tax Revenue on Economic Growth in Nigeria

Otekunrin

Fakile

Eluyela

et al. 2023

IJEEP

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This study examined the impact of oil and non-oil tax revenue on economic growth in Nigeria. few works have covered oil and non-oil taxation and the relationship of petroleum profit tax (PPT), company income tax (CIT), value-added tax (VAT) and custom and excise duties tax (CED) on Real Gross Domestic Product of Nigeria. The study adopted an ex-post facto research design, and data were drawn from the annual reports of Central Bank of Nigeria and Federal Inland Revenue Services publications. Error Correction Model was employed to analyse the data collected after subjecting the series to unit root test and cointegration test. The result of the study showed that PPT with a coefficient of 31.71067 and p-value of 0.0004 and CED with a coefficient of 1.786145 and p-value if 0.0206 had a positive significant relationship with economic growth, while CIT with a coefficient of -14446.50 and p-value of 0.0066 and VAT with a coefficient of -23.33177 and p-value of 0.0001 had a negative significant relationship with economic. The study recommends that taxation be appropriately controlled to boost economic growth, lower inflation, and create jobs in the country. More attention to the channelling PPT and CED revenue collections to infrastructural developments will bring about the economic growth of the country.

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Section: Discussion Of Findingssupporting

confidence: 86%

“…Taxation is a non-penal levy imposed by the government on the profits, income, or consumption of its citizens through its agent. (Ojong et al, 2016).…”

Section: Concept Of Taxationmentioning

confidence: 99%

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Impact of Oil and Non-oil Tax Revenue on Economic Growth in Nigeria

Otekunrin

Fakile

Eluyela

et al. 2023

IJEEP

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“…The study applied panel PMG linear model, estimation results indicated a positive impact of property and capital tax on economic growth and the impact of income tax was not significant. This non-significant impact of corporate income tax was supported by Ojong et al (2016) in their study on Nigerian economy. Neog and Gaur (2020), extended the analysis by incorporating panel threshold regression, revealing "U" association between property taxes and economic growth for the selected Indian states.…”

Section: Literature Reviewmentioning

confidence: 90%

“…It is for this reason that Hlongwane, (2023), point out that fiscal policy instruments are beneficial provided they used to counter slowdown in the economy and ensure fiscal stability. Fiscal policy intention is to stimulate economic and social development by pursuing policy stance that ensures balance between taxation, expenditure and borrowing that is consistent with sustainable development (Ojong et al 2016).…”

Section: Introductionmentioning

confidence: 99%

Economic Growth Effects of Fiscal Policy in South Africa: Empirical Evidence from Personal Income Tax

Tala

2024

IJEFI

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This study determined economic growth effects of fiscal policy in South Africa. Particular attention was paid to effects of personal income tax on economic growth for the period 1993Q3 -2022Q4. The influence of personal income tax on economic growth was analysed using non-linear autoregressive distributed lag (NARDL) bounds test for cointegration. Estimated results indicated rise in personal income tax is growth-friendly in the short-run. While, in the long –run growth is affected by both positive and negative shocks in personal income tax. Positive personal income tax changes are detrimental to economic growth in the long run. Increasing personal income tax will compromise the country’s economic growth strategy. Furthermore, positive changes in personal income tax affect economic growth more than negative shocks as confirmed by dynamic multiplier graph. Dynamic multiplier graph further reveal existence of asymmetry. Additionally, Wald test value of -6.2775 validated asymmetric effect of personal income tax on economic growth. It is therefore, recommended that policy makers should focus on considering other sources of tax revenue. The current structure of the tax system is skewed towards personal income tax. Policy makers should keep the current ratio of personal income tax and widen tax base to realise inclusive economic growth.

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Effect of government revenue on economic growth of sub-Saharan Africa: Does institutional quality matter?

Ayana,

Demissie,

Sore

2023

PLoS ONE

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Following the approval of sustainable development goals at the global level, the link between fiscal policy, institutional quality, and economic growth has attracted special attention in economic literature. This study scrutinizes the effect of government revenue-institutional quality interaction on the economic growth of 43 Sub-Saharan Africa countries for the period of 2012–2022. Methodology-wise, the study employed the System Generalized Method of Moment (SGMM) to analyze the panel data gained from dependable data sources; the World Development Indicator and the Heritage Economic Freedom Index. The novelty of this study emanates from the estimation technique designated and the introduction of revenue-institutional quality into the economic growth model of SSA. The result of the study reveals that government revenue adversely affects economic growth while institutional quality positively enhances economic growth before interacting with each other. However, the interactive coefficient of government revenue and economic growth positively affected the real GDP growth rate of SSA countries over the study periods. Precisely, before interacting with institutional quality, a percentage change in government revenue, keeping all other things constant, leads to a 0.0866 percent decline in economic growth while it marks a 0.2329 percent upsurge in economic growth in the presence of institutional quality. The result of the study further shows that government revenue promotes the economic growth of the region when combined with institutional quality. On the other hand, foreign direct investment and openness to trade were the key sources of economic growth whereas the population growth rate adversely impacted economic growth in SSA countries. The policy implication of the study is that SSA needs to strengthen government revenue management. Further, the finding of the study implies that SSA countries need to improve institutional quality through promoting efficiency of the regulatory quality and the size of the SSA governments. In addition to this, the fast real GDP growth rate of SSA countries demands improved institutional quality indicators such as the rule of law and extended access to the open market.

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Trade, Education Externalities and Economic Growth: Evidence from Nigeria

Cited by 10 publications

References 14 publications

Impact of Oil and Non-oil Tax Revenue on Economic Growth in Nigeria

Impact of Oil and Non-oil Tax Revenue on Economic Growth in Nigeria

Economic Growth Effects of Fiscal Policy in South Africa: Empirical Evidence from Personal Income Tax

Effect of government revenue on economic growth of sub-Saharan Africa: Does institutional quality matter?

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