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A Closer Look at the Nexus between Oil Price and Non-Oil Revenue in Nigeria | ||
Iranian Economic Review | ||
مقالات آماده انتشار، پذیرفته شده، انتشار آنلاین از تاریخ 14 مرداد 1401 | ||
شناسه دیجیتال (DOI): 10.22059/ier.2022.88412 | ||
نویسندگان | ||
Mohammed Shuaibu* 1؛ Ahmad El-Yaqub2 | ||
1Department of Economics, Faculty of Social Sciences, University of Abuja, Abuja, Nigeria | ||
2Department of Economics, Faculty of Social Science, University of Abuja, Abuja, Nigeria | ||
چکیده | ||
This study investigates the effect of oil price variations on non-oil revenue performance in Nigeria which, to our knowledge, has not received adequate empirical scrutiny. This issue is at the forefront of government policy plans which seek to improve non-oil revenue inflows. Utilizing dynamic time series modelling approach to analyze data from 2010M1 to 2020M12, the findings reveal that oil price dampens non-oil revenue mobilization efforts in the short-run but is positive in the long run. This indicates that the Dutch disease hypothesis holds in the short-run but not in the long run. Also, a depreciation of the exchange rate was found to improve non-oil revenue inflows. Robustness checks using disaggregated non-oil revenue: trade taxes (import duties and levies) and domestic taxes (value-added tax, corporate, and personal income tax) validate the findings. Therefore, policy measures aimed at building up domestic revenue are required to minimize oil revenue dependency. | ||
کلیدواژهها | ||
Keywords: Non-oil Revenue؛ Dutch Disease؛ Taxes؛ Oil price؛ Cointegration؛ Error correction. JEL Classification: H20؛ H27؛ O40؛ C21 | ||
آمار تعداد مشاهده مقاله: 257 |