Elements of Internally Generated Revenue and Economic Growth in Lagos State

IF 3 Q2 BUSINESS, FINANCE

Journal of Public Budgeting, Accounting and Financial Management Pub Date : 2023-09-13 DOI:10.56201/jafm.v9.no2.2023.pg78.93

Ibukun M. Falayi

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引用次数: 0

Abstract

State governments in Nigeria need revenue to invest in social infrastructures and creating social safety nets to stimulate economic growth. One of the sources of revenue that state governments have direct control over to maximize domestic revenue is the internally generated revenue. Empirical evaluation of the relationship between internally generated revenue and economic growth, therefore, becomes imperative. Consequently, this study examined the relationship between the components of Internally Generated Revenue (IGR) and Economic Growth (GDP) in Lagos State. The research design is ex-post facto while the period of study was from 2012 to 2020. The data obtained on the dependent and explanatory variables from National Bureau of Statistics and Lagos State Bureau of Statistics was analysed with the Autoregressive Distributed Lag technique. The results show a long-run significant relationship for other taxes, direct assessment and road taxes with gross domestic product in Lagos state, leaving out pay as you earn with insignificant impact. In the short run, however, other taxes, direct assessment, pay as you earn and road taxes have positive and significant relationship with gross domestic product. The F-statistic of 824.42 with a probability value of 0.000 at 1 percent level suggests that internally generated revenue exerts significant influence on gross domestic product in Lagos State. The study concluded that internally generated revenue strengthened economic growth in the state. Lagos State government should sustain the current tempo of domestic revenue mobilization drive with special emphasis on pay as you earn as a component of internally generated revenue to spur economic growth.

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拉各斯州内部收入和经济增长的要素

尼日利亚的州政府需要收入来投资社会基础设施和建立社会安全网，以刺激经济增长。为了使国内收入最大化，州政府直接控制的收入来源之一是国内收入。因此，对内部产生的收入与经济增长之间的关系进行实证评估变得势在必行。因此，本研究考察了拉各斯州内部创收(IGR)和经济增长(GDP)组成部分之间的关系。研究设计为事后设计，研究时间为2012年至2020年。采用自回归分布滞后技术对国家统计局和拉各斯州统计局的因变量和解释变量数据进行分析。结果显示，在拉各斯州，其他税收、直接评估税和道路税与国内生产总值(gdp)之间存在长期显著的关系，而不考虑随赚随付的影响。然而，在短期内，其他税种，如直接评税、按所得纳税和道路税与国内生产总值有显著的正相关关系。在1%的水平上，f统计量为824.42，概率值为0.000，表明内部产生的收入对拉各斯州的国内生产总值产生重大影响。该研究的结论是，国内产生的收入促进了该州的经济增长。拉各斯州政府应维持目前国内收入动员的速度，特别强调工资，因为你的收入是内部产生的收入的一部分，以刺激经济增长。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Public Budgeting, Accounting and Financial Management Social Sciences-Public Administration

CiteScore

7.80

自引率

19.40%

发文量

期刊介绍： Published four times a year, the Journal of Public Budgeting, Accounting & Financial Management (JPBAFM) is an international refereed journal which aims at advancement and dissemination of research in the field of public budgeting, accounting, auditing, financial and performance management. The journal is committed to be an outlet for rigorous conceptual and empirical works aimed at challenging and innovating the field of accounting, management and governance in entities operating in the public sphere or public-private sphere (territorial government entities, universities, schools, hospitals as well as state-owned enterprises, hybrid organizations, public and private partnerships, non-profit organizations, NGOs, etc.).