文章基本信息

标题：Tax Revenue, Stock Market and Economic Growth of Pakistan
其他标题：Tax Revenue, Stock Market and Economic Growth of Pakistan
本地全文：下载
作者：Attari, Muhammad Irfan Javaid ; Taha, Roshaiza ; Farooq, Muhammad Imran 等
期刊名称：Acta Universitatis Danubius. Oeconomica
印刷版ISSN：2065-0175
电子版ISSN：2067-340X
出版年度：2014
卷号：10
期号：5
语种：English
出版社：Danubius University
摘要：Structured Abstract: Purpose – The purpose of this paper is to examine the effects of capital market and fiscal policy influences in determining the nexus of economic growth in Pakistan from July 2003 to July 2012. Design/methodology/approach – The authors utilise ADF unit root test, Johansen Cointegration test, VECM test, Granger causality test and variance decomposition analysis to test the relationship among tax revenue, stock market and economic growth in Pakistan. Granger causality analysis is used to answer questions whether “Does tax revenue cause the economic growth?” or “Does tax revenue cause the capital market?”. Findings – The results demonstrate that there is a bidirectional casualty between tax revenue and economic growth; and a unidirectional causality from capital market to tax revenue. The estimated result shows that growth of Pakistan economy is strongly contributed from the high collection of direct tax revenue and the development of financial market activity. Originality/value – The findings of this paper have important implications to current and potential investors in Pakistan economy to understand the economic condition of Pakistan and to assist them in making their investment decision.
关键词：Tax revenue; stock market; economic growth; Pakistan