Measuring the relationship and trend analysis among the macro-economic variables (Revenues, per capita income, GDP, and annual budget) in the successive periods of Bangladesh
DOI:
https://doi.org/10.18533/job.v7i2.259Abstract
This study aims to explore the relationship and trend among the macro variables (total revenues, tax revenues, non-tax revenues, direct tax, indirect tax, per capita income, GDP, and annual budget) of Bangladesh in the successive periods. In this study, we used secondary data from the fiscal year 1972-1973 to 2019-2020 from the National Board of Revenues and Ministry of Finance. Chi-Square Test and Durbin Watson Test have been executed in this study. The result of the study revealed that total non-tax revenues, total indirect tax, and annual budget have statistically significant associations with annual GDP, whereas, total direct tax and per capita income have no statistically significant impacts on annual GDP in Bangladesh. The time factors also have an impact on the GDP and government revenue generation. Next, we found that total revenues of the government, total non-tax revenues, total direct tax, and total indirect tax has a significant positive association but per capita income has no impact on revenues of the government. However, government revenues have a significant impact on the annual budget influenced by the time factors. The findings of the study can be used in policy making in raising government revenues in consideration of macro-variables in Bangladesh.
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