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Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa

Authors: ONAKOYA Adegbemi

Publication Type: Journal article

Journal: International Review Of Management And Business Research

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Abstract

The dilemma of tax revenue performance, trade liberalization and macro- economic variables has been in existence based on the need to diversify the economy to find inclusive growth and economic stability which is difficult to achieve due to global economic meltdown and crashing stock, this study seeks to examine the relationship. This study utilized the periods 2005-2014 to determine the significant relationship between tax revenue performance, trade liberalization and macro-economic variables of 22 sub-Saharan African countries. Several tests were conducted. The descriptive statistics showed the nature of the data. The Unit root test examined the stationarity of the series. Long run co-integration test, the Vector error correction model was engaged to check for possible long or short run connection among the variables. The Granger causality test was applied to determine the shock impact of one variable on the other. The Serial correlation test was conducted using the Breusch-Godfrey Lm and the Breusch-Pagan-Godfrey techniques. The findings concluded that inflation, interest rate and trade openness had a short run relationship with tax revenue unlike exchange rate and unemployment. Also, all variables apart from exchange rate were positively related to the dependent variable coupled with the fact there existed a one-way causation with the absence of serial correlation and heteroskedasticity among the variables. The study recommends that the government implementing efficient and transparent collection of taxes to be held accountable to the public which would promote voluntary payment and implore policies to promote labour intensive programmes and infant industries which would lead reduce unemployment, lead to a developed market and boost the standard of living of its citizens.

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ONAKOYA,A. . (0000). Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa, 6 (), 846-846.

ONAKOYA,A. . "Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa" 6, no (), (0000): 846-846.

ONAKOYA,A. and . (0000). Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa, 6 (), pp846-846.

ONAKOYAA, . Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa. 0000, 6 ():846-846.

ONAKOYA,Adegbemi , . "Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa", 6 . (0000) : 846-846.

O.Adegbemi , "Tax Revenue Performance, Trade Liberalization and Macroeconomic Variables in Sub-Saharan Africa" vol.6, no., pp. 846-846, 0000.

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