scholarly journals The Nexus Between Government Revenue and Economic Growth in Nigeria

2020 ◽  
Vol 34 (1) ◽  
pp. 35-45
Author(s):  
Fineboy Ikechi Joseph ◽  
Cordelia Onyinyechi Omodero
Keyword(s):  
Economic Growth ◽  
Value Added ◽  
Ordinary Least Squares ◽  
National Bureau ◽  
Ex Post ◽  
Research Designs ◽  
Ex Post Facto ◽  
Secondary Form ◽  
The Government ◽  
The Relationship

AbstractThe aim of the study is to examine the relationship between government revenues and the economic growth of Nigeria. The study employs exploratory and ex-post facto research designs while using secondary form of data spanning from 1981 to 2018 collected from the Federal Inland Revenue Services (FIRS), National Bureau of Statistics and CBN statistical bulletin. The relationship is tested by using Ordinary Least Squares (OLS) regression technique. The result reveals that federally received revenue and Value Added Tax (VAT) have a moderate positive relationship with the economic growth. The study provides evidence that there is a need for the government to formulate relevant revenue policies that will boost government income in order to have more favourable implication on the economy.

scholarly journals Debt Servicing and Sectoral Economic Growth in Kenya

2018 ◽  
Vol 5 (3) ◽  
pp. 100
Author(s):  
Brenda Molonko ◽  
Ambrose Jagongo ◽  
Job Omagwa
Keyword(s):  
Economic Growth ◽  
Fixed Effects ◽  
Moderating Effect ◽  
National Bureau ◽  
Study Objective ◽  
Significance Level ◽  
Long Run ◽  
The Government ◽  
Panel Stationarity ◽  
The Relationship

The study objective was toestablish the effect of debt servicing on sectoral economic growth as well as the moderating effect of inflation on the relationship between debt servicing and sectorial economic growth in Kenya. The study employed Auto Regressive Distributed Lag model. Eleven sectors that receive government expenditure were analyzed while adopting positivist philosophy and a causal research design. The Study period covered the year 2006 to the 2015.Secondary data for the study period were collected from Statistical Abstracts of Kenya National Bureau of Statistics and Debt Servicing Reports from Kenya National Treasury. Panel Stationarity Test and Heterogeneity Test were conducted as preliminary tests whereas Hausman Test was carried out to choose efficient estimator from Pooled Mean Group, Dynamic Fixed Effects and Mean Group Estimators. The study established that in the long run, debt servicing has a significant effect on sectoral economic growth. In addition, the study established that inflation has a significant moderating effect on the relationship between debt servicing and Sectoral economic growth in the long run at the significance level of 0.05. The study concluded that debt servicing has a significant effect on sectoral economic growth in Kenya in the long run and no effect in the short run. Additionally, inflation enhances the influence of debt servicing on sectoral economic growth in the long run. The study further confirms that Kenya is not facing a debt overhang problem. The study recommends that if the government must borrow, the loans should be concessional in nature with long term repayment periods. The government should ensure that reasonable levels of inflation are achieved.

scholarly journals Non-Oil Tax Revenue on Economic Growth and Development in Nigeria

2020 ◽  
Vol 5 (3) ◽  
Author(s):  
Folajimi Festus Adegbie ◽  
Nwaobia A. N. Nwaobia ◽  
Olalekan Osinowo
Keyword(s):  
Economic Growth ◽  
Growth And Development ◽  
Tertiary Education ◽  
Value Added ◽  
Tax Revenue ◽  
National Bureau ◽  
Economic Growth And Development ◽  
Crude Oil Prices ◽  
Ex Post ◽  
The Individual

Globally, government is experiencing difficulties in generating adequate revenue to finance their activities. In Nigeria, studies have shown that the recent sharp reduction in the revenue was as a result of decline in crude oil prices which inversely affected the financial ability of government towards growth and development of the nation. To this end, this paper therefore investigated the effect of non-oil taxes on economic growth and development of Nigeria. The study employed ex-post facto research design. Macro data for the period 1994Q1-2017Q4 representing seventy six (76) observations were obtained from CBN statistical bulletin and National Bureau of Statistics. The documents were already exposed to the scrutiny of the appropriate regulatory agencies. The data were analyzed using descriptive and inferential statistics employing multiple regressions. The study discovered that non-oil taxes (custom and excise duties, capital gain tax, company income tax, tertiary education tax and value added tax) have significant effect on economic growth. (Adj. R2 = 0.75, F(5,71) = 213.43, p< .0.05). The individual effects are also positive and statistically significant: (VAT- β = 8.011, t(76)= 2.802, ρ<0.05, CIT- β = 2.560, t(76)= 2.383, ρ<0.05, CED - β = 1.767, t(76)=3.092, ρ<0.05, CGT- β = 4.162, t(76)= 3.509, ρ<0.05, and TET- β = 0.161, t(76)= 2.443, ρ<0.05). This study concluded that non-oil taxes significantly influenced both economic growth and economic development in Nigeria. The study recommended that government must strive to sustain the current unflinching commitment towards improving non-oil tax revenue, ensure Tertiary Education Tax collected translates into real development and also ensure efficient utilization of tax payers’ money to boost non-oil tax revenue collection which will then lead to economic growth and development.

scholarly journals Budget Evaluation and Economic Development in Nigeria

2021 ◽  
Vol 2 (2) ◽  
pp. 51-62
Author(s):  
Christy Twaliwi ◽  
Georgina Obinne Ugwuanyi ◽  
Udeme Okon Efanga
Keyword(s):  
Economic Development ◽  
Due Process ◽  
Ordinary Least Squares ◽  
Strict Adherence ◽  
Capital Budget ◽  
Economic Progress ◽  
Ex Post ◽  
Ex Post Facto ◽  
The Government ◽  
Budget Evaluation

The major goal of this research was to see how budget assessment affected Nigeria's economic progress. The inspiration stemmed from a number of inconsistencies in the Nigerian economy's budget preparation and execution. This study employed an ex-post-facto design, with data gathered from the Central Bank Statistical Bulletin and the Federal Ministry of Finance for analysis. A model based on empirical and theoretical reviews was developed to attain this wide purpose. The model's dependent variable was the Human Development Index (HDI), while the model's independent variables were the government's capital budget, recurrent budget, and yearly budget implementation rate. To evaluate data, the researchers used the Ordinary Least Squares (OLS) Model. Budget assessment had a favorable and considerable influence on Nigeria's economic progress, according to the inferential findings. According to the report, Nigeria's government should make an effort to raise capital and recurring expenditures in its yearly budget, since both have a substantial influence on economic development. Finally, the government should make an effort to put in place effective budget monitoring and assessment equipment that will increase the rate of budget implementation while simultaneously ensuring strict adherence to due process.

scholarly journals Athletes Welfare and Reward System in Indonesia: The 30th SEA Games 2019 Athletes and Coaches Perspective

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Novrizal Achmad Novan ◽  
N Nuryadi ◽  
K Komarudin
Keyword(s):  
Data Analysis ◽  
Positive Relationship ◽  
Reward System ◽  
Significant Positive Relationship ◽  
Ex Post ◽  
Ex Post Facto ◽  
The Government ◽  
Sports Heroes ◽  
Ex Post Facto Study ◽  
The Relationship

Sports heroes are considered worthy of appreciation, especially for those who contribute to providing achievements for the nation at regional and international levels. The reward is given to athletes and coaches during their productive lives in the present until their retirement period. However, the rewards received by athletes and coaches tend not to be able to fulfill their welfare as a guarantee of life in the future. Therefore, this study was aimed at determining the relationship between rewards and the level of welfare given by the government and sports committees in Indonesia to athletes and coaches. This research was an ex-post-facto study using a self-administered closed-questionnaire conducted on athletes and national coaches on the 30th SEA Games team in Philippines in 2019. The number of samples was determined by using Slovin formula at 5% error rate and carried out on 46 athletes and nine coaches under the authority of the Indonesian National Sports Committee in Bandung. Data analysis was performed by using SPSS. From the results obtained, these rewards also had a direct correlation with the level of welfare of athletes and coaches. Considering that, if a maximum reward is given, the level of welfare will also be increased. The results indicates that there is a robust and significant positive relationship between rewards and welfare. Athletes and coaches expected the government and sports committee in Indonesia to give rewards that are not only limited to bonuses in terms of financial. Other aspects also need a concern when the athletes and coaches are no longer productive in contributing to the national sports achievements.

scholarly journals Moderating Effect of Political Risk on the Relationship between Capital Expenditure and Sectoral Economic Growth in Kenya

2017 ◽  
Vol 10 (1) ◽  
pp. 129
Author(s):  
Brenda Molonko ◽  
Samuel Nathaniel Ampah
Keyword(s):  
Economic Growth ◽  
Capital Expenditure ◽  
Political Risk ◽  
Political Stability ◽  
Moderating Effect ◽  
National Bureau ◽  
Long Run ◽  
The Government ◽  
Panel Stationarity ◽  
The Relationship

The study sought to determine the effect of capital expenditure on Sectoral economic growth and the moderating effect of political risk on the relationship using Auto Regressive Distributed Lag model. The study targeted 11 sectors that receive government expenditure and adopted positivist philosophy and a causal research design. Secondary data for the period 2006-2015 was collected from Kenya National Bureau of Statistics Statistical Abstracts, Kenya National Audit Office reports and Political Risk Group reports. The study conducted Hausman Test, Panel Stationarity Test and Heterogeneity Test as preliminary tests. The study found that capital expenditure has a significant effect on Sectoral economic growth both in the long run and short run. The study further found that political risk has a significant moderating effect on the relationship between capital expenditure and Sectoral economic growth in the long run at the significance level of 0.05. The study concluded that capital expenditure has an effect on sectoral economic growth in Kenya both instantaneously and in the long run. As well, Political risk curbs the effect of capital expenditure in the long run. The study recommends enhancement of capital expenditure. Additionally, the government should enhance political stability to accelerate growth.

scholarly journals The Effect of Federal Government Revenue and Expenditure On Economic Growth in Nigeria – An Empirical Review

2021 ◽  
Vol 7 (3) ◽  
pp. 34-52
Author(s):  
Ayoka Cynthia Odinakachi ◽  
Nzotta Samuel Mbadike ◽  
Kanu Success Ikechi
Keyword(s):  
Economic Growth ◽  
Federal Government ◽  
Capital Expenditure ◽  
Government Revenue ◽  
Oil Revenue ◽  
Ex Post ◽  
Long Run ◽  
Ex Post Facto ◽  
Short Run ◽  
The Relationship

This study examined the effect of federal government revenue and expenditure on the economic growth of Nigeria for the period 1983 to 2018. Prior to now many studies have been completed on the subject matter and yet there doesn't seem to be a consensus of opinion amongst the different researchers on the relationship between revenue and expenditure interface in Nigeria. This could be ascribed to the different approaches gies set forward to clarify the relationship; thus warranting the need for this research .The investigation embraced an ex-post facto research design to produce test results via Bounds test, ARDL short/long run estimates and to make forecasts. The full scale economic factors used in the study includes Real Gross domestic product (proxy for economic growth), federal government retained revenue, non-oil revenue, capital expenditure and recurrent expenditure. We chose to be different in this study with a conscious omission of oil revenue as a variable of study. Findings of the research showed that federal government retained revenue; non-oil revenue and recurrent expenditure were statistically significant in explaining the relationship with economic growth in the short run; while capital expenditure was not at 5% Alpha level. Federal government retained revenue was also found to be statistically significant in the long run. On the basis of these findings, it was concluded that the influential growth variables are federal government retained revenue; non-oil revenue and recurrent expenditure. The researchers thus recommend that government should be tactful in her efforts at fiscal policy synchronization. There is need to monitor Nigeria’s expenditure pattern, increase in revenue and a consequent increase in governments retained revenue. This will make for an effective adjustment in the utilization of capital expenditures and to assist with raising the level of economic growth in Nigeria

scholarly journals Educational Level and Tax Compliance: Empirical Evidence From Nigeria

2020 ◽  
Vol 10 (1) ◽  
pp. 160
Author(s):  
Stanley Ogoun ◽  
Godspower Anthony Ekpulu
Keyword(s):  
Educational Level ◽  
Government Expenditure ◽  
Tax Compliance ◽  
Tax Revenue ◽  
Education Expenditure ◽  
Government Investment ◽  
Ex Post ◽  
National Priority ◽  
Ex Post Facto ◽  
The Government

The study interrogates the relationship between educational level and tax compliance in Nigeria. The study employs the ex post facto research design to ascertain how government investment in education enhances tax compliance. The study covers 17 years (2002-2018) for both tax revenue (a surrogate for tax compliance) and education expenditure (a surrogate for educational level). From the empirical results, the study concludes that there is a positive nexus between government expenditure on education and tax revenue. The study, therefore, recommends that as a matter of necessity, the government should invest more in the overall educational demand of her citizens not only from tax revenues but from other oil and non-oil sources. The governments, from the federal and state levels, should act as a matter national priority endeavour to meet up with the international budgetary benchmark allocation for education, as recommended by the United Nations Educational, Scientific and Cultural Organization (UNESCO) in its Education for All (EFA) document 2000-2015. This will give Nigerians more access to quality education that would result in moving up the global ranking in HDI with its resultant benefits.

The relationship between energy consumption and economic growth: New evidence from Greece

2021 ◽  
pp. 131-153
Author(s):  
Antonia Gkergki
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Gdp Per Capita ◽  
Short Term ◽  
Vector Error Correction ◽  
Per Capita ◽  
Econometric Tests ◽  
The Government ◽  
New Research ◽  
The Relationship

This paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.

scholarly journals Government Expenditure and Economic Growth Nexus: Evidence from Nigeria

2016 ◽  
Vol 5 (4) ◽  
pp. 56
Author(s):  
Oyediran, Leye Sherifdeen ◽  
Sanni, Ibrahim ◽  
Adedoyin, Lukman ◽  
Oyewole Olabode Michael
Keyword(s):  
Economic Growth ◽  
Capital Expenditure ◽  
Government Expenditure ◽  
Least Square ◽  
National Bureau ◽  
Fiscal Discipline ◽  
Secondary Sources ◽  
Economic Development And Growth ◽  
The Government ◽  
The Impact

The need to better the lots of citizens through government expenditure has raised questions on the impact of government expenditure on the economic development and growth of nations. It is against this background that this paper examined the antecedent effect of government spending on the Nigerian economic growth. The general objective of the study is to ascertain the relationship between government expenditure and economic growth in Nigeria; specifically, the study examined: (i) the significance influence of government capital expenditure on economic growth in Nigeria and (ii) the significance influence of government recurrent expenditure on economic growth in Nigeria. The study employed ordinary least square (OLS) multiple regression analysis in estimating the specified model, with the Gross Domestic Product (GDP) as the dependent variable, while Capital Expenditure (CAPEXP) and Recurrent Expenditure (REXP) are the independent variables. Data between 1980 – 2013 were collected from secondary sources through the National Bureau of Statistics (NBS) and Central Bank of Nigeria (CBN). Results showed that in Nigeria, there exist a significant relationship between the government expenditure and economic growth. The study therefore recommends instilling fiscal discipline in government expenditures, and putting in place structural mechanisms to act as surveillance on capital spending so as to boost the nation’s human and social capital.

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

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