The determination of the effects of macroeconomic environment on tax revenue is very vital for every country and more so for an economic community aiming for harmonization of macroeconomic environment and ultimately integration. However, the extent to which aggregate output, inflation, and unemployment affect tax revenue in ECOWAS has been less studied in the literature. Therefore, this study empirically investigates how tax revenue is related to selected macroeconomic variables. Panel data analysis is employed on six ECOWAS countries' data set on tax revenue, gross domestic product, inflation, unemployment, trade openness and exchange rate over 2005-2019. The Wald's test and Hausman test indicated that the fixed effects regression was appropriate for the study. The results showed that inflation was positively related to tax revenue and statistically significant at 5 percent. A unit increase in inflation led to 0.007 increase in tax revenue measure; economic growth was also positive and statistically significant at 5 percent; a unit rise in GDP resulted in 0.78 rise in governmental tax revenue variable. Finally, Tax revenue variable decreased by 0.10 with a unit increase in unemployment. It is recommended that ECOWAS countries should carefully manage their macroeconomic environment to boost tax revenue.
This study examines the effects of financial globalisation on the Nigerian economy using data from the Central Bank of Nigeria statistical bulletin and the Nigeria Bureau of Statistics reports from 1992 to 2017. Using both descriptive and inferential statistical analyses, the study reveals that financial globalisation has helped to mobilise foreign direct investment into the economy and the significant positive effect of personal remittances on per capita income of Nigerians. Therefore it recommends that favourable policies to attract and retain FDI and personal remittances from developed nations should be encouraged and African governments and economic actors should consider all stakeholders' interests, and ensure that an international financial and trade system is "fair and reciprocal" to eliminate the persisting trends in abject poverty, predatory trade policies and the escalation of economic inequalities in Africa.
Proper research and analysis of mortality dynamics is essential to provide reliable economic information about any country. This paper deals with the historical comparative time series analysis of the mortality rate dynamics in the BRICS countries to determine their economic performances over the years. This article presents stochastic models based on autoregressive integrated moving average (ARIMA (p, d, q)) models of various orders with a view to identifying the optimal and comparative model for the crude death rate (CDR) in the BRICS countries. The ARIMA (p, d, q) models were formulated for the crude death rates in the BRICS countries and the overall annual crude death rate for the period 1960–2018. The optimal choice of ARIMA models of order p and q was selected for each of the series. The results indicate that the ARIMA (2, 2, 0) model was the optimal model for predicting mortality dynamics in the overall BRICS data. In addition, there was a significant decrease in trends (p-value < 2.22e-16) during the study period from 1960 to 2018. In addition, the crude death rate’s data for the BRICS countries proved to be mostly non-linear, non-seasonal and without structural breaks. Finally, the findings of this study were discussed and recognized as having relevant policy implications for forecasting, insurance planning, as well as for disaster or risk reduction in the context of unprecedented global happenings in the post-pandemic era.
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