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Tax Revenue and Main Macroeconomic Indicators in Turkey

Journal Name:

  • European Journal of Economic and Political Studies

Publication Year:

  • 2013

Key Words:

Author NameUniversity of Author
Abstract (2. Language): 
This study is about the behavior of main macroeconomic indiactors and their interaction with tax revenue with annual data over 1980-2013 in Turkey. The main purpose is to study the causality between tax revenue and a broad list of indicators over the stated period. First we present descriptive statistics and then test for the stationarity of the variables after which we test for the existence and direction of Granger causality between pairs of indicators proven to be stationary. In the last part of the study we search for the permanent long-run relationship via the existense of cointegration among variables after which we establish the error correction mechanism. We have intentionally selected the time span since Turkey has experienced several shocks before being addressed in the list of G-20 and a typical emerging market economy. Besides. the socalled great recession is included in the period and is still prevailing with perplexing attitutes of managing the crisis. Our results document that there is unidirectional causality from total tax revenue to foreign direct investment and external debt stock. In addition we report a cointegrating relation among tax revenue, GDP and external debt stock.
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