FACTORS AFFECTING TAX REVENUES: PANEL DATA ANALYSIS FOR SELECTED COUNTRIES

Year 2019, Volume: 6 Issue: 3, 602 - 617, 31.12.2019

Hüseyin Kutbay

https://doi.org/10.30798/makuiibf.519599

Cited By: 9

Abstract

In this study, the determinants of tax revenues
in G7 (France, Germany, Italy, UK, Canada, Japan, USA) and BRIC-T (Brazil,
Russia, India, China, Turkey) countries were investigated by using panel data
analysis method for the period of 1995-2017. In the analysis tested the
developed hypothesis of whether potential tax-determinant influence tax
performance in developed and developing countries and the series were
determined to be stationary in the first difference. As a result of the
analyzes, it was found that the fixed effects model was suitable for the data
set. Tested whether the model provides assumptions and the models developed
against deviations from assumptions have been estimated Driscoll-Kraay robust
standard estimator. As a result of the study, it was concluded that the
national income per capita, employment, degree of globalization, number of wage
earners, industrial production index, inflation and foreign direct investments
increased the tax revenues in G7 countries. In BRIC-T countries, inflation,
globalization and foreign direct investments have a negative impact on tax
revenues.

Keywords

Tax Revenues, Determinants of Tax Revenues, Panel Data Analysis

VERGİ GELİRLERİNİ ETKİLEYEN FAKTÖRLER: SEÇİLMİŞ ÜLKELER İÇİN PANEL VERİ ANALİZİ

Abstract

Bu çalışmada G7 (Fransa, Almanya,
İtalya, İngiltere, Kanada, Japonya, ABD) ve BRIC-T (Brezilya, Rusya, Hindistan,
Çin, Türkiye) ülkelerinde vergi gelirlerinin belirleyicileri, 1995-2017 dönemi
için panel veri analiz yöntemiyle araştırılmıştır. Analizde, potansiyel vergi
belirleyicilerinin gelişmiş ve gelişmekte olan ülkelerdeki vergi performansını
etkileyip etkilemediğine dair geliştirilen hipotez test edilmiş ve serilerin
birinci farkta durağan olduğu belirlenmiştir. Yapılan analizler neticesinde,
veri seti için sabit etkiler modelinin uygun olduğu bulunmuştur. Modelin
varsayımları sağlayıp sağlamadığı test edilmiş ve varsayımlardan sapmalara
karşı geliştirilen Driscoll-Kraay dirençli standart tahmincisi tahmin
edilmiştir. Çalışmanın neticesinde G7 ülkelerinde vergi gelirlerini; kişi
başına düşen milli gelir, istihdam, küreselleşme derecesi, ücretli çalışan
sayısı, sanayi üretim endeksi, enflasyon ve doğrudan yabancı yatırımların
artırdığı belirlenmiştir. BRIC-T ülkelerinde ise enflasyon, küreselleşme ve doğrudan
yabancı yatırımlar vergi gelirlerini negatif etkilemektedir.  

Keywords

Vergi Gelirleri, Vergi Gelirlerinin Belirleyicileri, Panel Veri Analizi

References

• AAMIR, M., QAYYUM, A., NASIR, A., HUSSAIN, S., KHAN, K. I., BUTT, S. (2001), Determinants of Tax Revenue: A Comparative Study of Direct taxes and Indirect taxes of Pakistan and India, International Journal of Business and Social Science, V. 2, N.19, 171-178.
• AKBAŞ, Y. E. ve ŞENTÜRK, M. (2013), MENA Ülkelerinde Elektrik Tüketimi İle Ekonomik Büyüme Arasındaki Karşılıklı İlişkinin Analizi, Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 41, 45-67.
• ANSARI, M.M. (1982), Determinants of Tax Ratio: A Cross-Country Analysis, Economic and Political Weekly, 17(25), 1035-1042.
• ARLTOVÁ, M. ve FEDOROVÁ, D. (2016), Selection of Unit Root Test on the Basis of Length of the Time Series and Value of AR(1) Parameter, Statistika, 96(3), 47-64.
• ASGHAR, F. ve MEHMOOD, B. (2017), Effects of Trade Liberalization on Tax Revenue in Pakıstan: An Empirical Scrutiny Using ARDL Bound Testing, Pakistan Economic and Social Review Volume 55, No.1, 159-184.
• ASHRAF, M. ve SARWAR, S. (2016), Institutional Determinants of Tax Buoyancy in Developing Nations, Journal of Emerging Economies and Islamic Research, 4(1), 1-12.
• CASTRO, G. A. ve RAMIREZ, D. B. (2014), Determinants of Tax Revenue in OECD Countries Over the Period 2000-2011, Contaduriay Administracion, V. 59, N.3, 35-59.
• CHANDIA, K. E., SABIR, R. I., ZULFİQAR, S., SARWER, B., BAHADUR, W. (2014), Determinants of Revenue Generation Capacity in the Economy of Pakistan, Journal of Basic and Applied Scientific Research, 4(7)1-5.
• COLAK, E. (2014). Korelasyon Analizi, http://eczacilik.anadolu.edu.tr/bolum Sayfalari/belgeler/ecz2014%2012_20140527094539.pdf, [Erişim Tarihi: 09.01.2019].
• DABA, T. A. (2015). Determinants Tax Revenue in Ethiopia (Thesis Post Graduate ), Addis Ababa University, Ethiopia
• DUMITRESCU, E. I., HURLIN, C. (2012), Testing for Granger Non-Causality in Heterogeneous Panels, Economic Modelling, 29(4), 1450-1460.
• EKICI, M. S. (2009), Vergi Gelirlerini Etkileyen Ekonomik ve Sosyal Faktörler, Elektronik Sosyal Bilimler Dergisi, 8(30), 200-223.
• ENGLE, R.F., GRANGER, C.W. J. (1987), Cointegration and Error-Correction: Representation, Estimation and Testing, Econometrica, 55(2), 251-276.
• GOBACHEW, N., DEBELA, K. L., SHIBIRU, W. (2018), Determinants of Tax Revenue in Ethiopia, Economics, 6(6), 58-64.
• GUPTA, A. S. (2007), Determinants of Tax Revenue Efforts in Devoloping Countries, IMF Working Paper, WP/07/184.
• HARELIMANA, J. B. (2018), Effect of Tax Audit on Revenue Collection in Rwanda, Global Journals, 18(2), 1-11. HASSAN, S. ve MISHRA, B. (2018), Does an Economic and Political Affairs Matter in Determining the Tax Revenue of Jammu and Kashmir State (India): An Approach through VECM Model, Iran. Econ. Rev. 22(2), 471-501.
• IHAKA, R. (2005), Time Series Analysis, https://www.stat.auckland.ac.nz/~ihaka/726 /notes.pdf, [Erişim Tarihi: 10.01.2019].
• IM, K., PESARANB, M. H., SHINC, Y. (2003), Testing for Unit Roots in Heterogeneous Panels, Journal of Econometrics, 115(1), 53-74.
• KALDOR, N. (1963), Will Underdeveloped Countries learn to Tax?, Foreign Affairs, 41, 410-19.
• KARAGOZ, K. (2013), Determinants of tax revenue: Does Sectorial Composition Matter?, Journal of Finance Accounting and Management, 4(2),50-63.
• LEVIN, A., LIN, C. F., CHU, C. S. J. (2002), Unit Root Tests in Panel Data: Asymtotic and Finite-Sample Properties, Journal of Econometrics, 108(1), 1-24.
• LOPEZ, L. ve WEBER, S. (2017), Testing for Granger Causality in Panel Data, University of Neuchatel Institute of Economic Research, IRENE Working Paper, No: 17-03.
• MONTEIRO, M. R., BRANDÃO, E. F. M., MARTINS F. V. S. (2011), A Panel Data Econometric Study of Corporate Tax Revenue in European Union: Structural, Cyclical Business and Institutional Determinants, FEP Working Papers, No. 437, 1-33.
• MOSSIE, W. A. (2016), Determinants of Tax Revenue in Ethiopia (Johansen Co-Integration Approach), International Journal of Business, Economics and Management 3(6):69-84.
• MUIBI, S. O. ve SINBO, O. O. (2013), Macroeconomic Determinants of Tax Revenue in Nigeria (1970-2011), World Applied Sciences Journal, 28 (1), 27-35.
• NNYANZI J. B., Babyenda, P., BBALE J. M. (2016), Regional Economic Integration and Tax Revenue: East African Community, Journal of Economic Integration, 31(4), 932-967.
• OFORI, I. K., OBENG, C. K., ARMAH, M. K. (2018), Exchange Rate Volatility and Tax Revenue: Evidence from Ghana, Cogent Economics & Finance, 6, 1-17.
• OKOYE, P. V. C. ve EZEJIOFOR, R. (2014), The Impact of E-Taxation on Revenue Generation in Enugu, Nigeria, International Journal of Advanced Research, 2(2), 449-458.
• OZMEN, İ. (2016), Vergi Gelirlerinin Belirleyicileri Üzerine Karşılaştırmalı Bir Analiz: BRIC-T, Sosyal Ekonomik Araştırmalar Dergisi, Yıl: 16 / Sayı: 32, 232-252.
• PALIĆ I., DUMIČIĆ, K., GROFELNIK, B. (2017), Analysis of Personal Income Taxation Determinants in Croatia in Long Run: Evidence from Cointegration Analysis, Naše gospodarstvo/Our Economy, 63(3), 12-18.
• RIANTO, J., TAUFIK, R., YAM, J. H. (2017), Determinants of Personal Income Tax Revenue and the Implication on Public Welfare Development, International Journal of Academic Research and Development 4(2), 84-96.
• SIMBACHAWENE, M. S. (2018), Improving Tax Revenue Performance in Tanzania: Does Potential Tax Determinants Matters?, Journal of Finance and Economics, 6(3), 96-102.
• TARI, R. (2012), Ekonometri, (8. Baskı), Umuttepe Yayınları, Kocaeli.
• TEERA, J. M. (2003), Determinants of Tax Revenue Share in Uganda, Centre for Public Economics Working Paper, 09b-03, University of Bath.
• VELAJ, E. ve PRENDI, L. (2014), Tax Revenue - The Determinant Factors - The Case of Albania, European Scientific Journal. Special Edition Vol.1, 526-531.
• ZARRA-NEZHAD, M., ANSARI, M. S., MORADI, M. (2016), Determinants of Tax Revenue: Does Liberalization Boost or Decline It?, Journal of Economic Cooperation and Development, 37(2) 103-126