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Tax Revenue, Economic Growth And Human Development Index In Nigeria

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Abstract

This paper examined tax revenue, economic growth and human development index. To achieve this main objective in specific terms, the paper evaluated the impact of some major taxes, including Company Income Tax (CIT), Petroleum Profit Tax (PPT), Value-Added Tax (VAT) and Customs and Excise Duties (CED) on Real Gross Domestic Product (RGDP) and Human Development Index (HDI). The variables of RGDP and HDI have respectively been largely used as measures of economic growth and economic development. The paper involved the use of annual time series data for the period 1994 to 2017. Methodologically, the paper employed the use of the application of Augmented Dickey Fuller (ADF) unit root test, Johansen multivariate co-integration technique and Error Correction Model (ECM) method mainly suited for time series analysis. Findings showed a positive and significant relationship between tax revenue and HDI. The result reveals that the impact of tax revenue on HDI is lower than that of RGDP. both as dependent variables. In consequence, we suggest more reliance on the use of the measure (ment) of HDI as it is more encompassing than the use of RGDP, which, going by our findings, provides a weaker picture of relationships between tax revenue and economic growth in Nigeria. On this basis, we advocate tax policies that are development-driven, given that HDI criteria are known for their measurability, both in quantitative and qualitative terms.

Suggested Citation

  • Okoeguale IBADIN, Peter & Toyin OLUWATUYI, Bukola, 2021. "Tax Revenue, Economic Growth And Human Development Index In Nigeria," Journal of Taxation and Economic Development, Chartered Institute of Taxation of Nigeria, vol. 20(2), pages 52-76, September.
    • Handle: RePEc:ris:jotaed:0053
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    Keywords

    Taxation revenue; human development index; real gross domestic product; Nigeria;
    All these keywords.

    JEL classification:

    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue

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