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Stock Markets and Tax Revenue

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  • Bojan Ilievski

Abstract

Many developing countries struggle to raise taxes. The present work considers the financial sector – specifically the stock market sector – as a boon for tax revenue. Historically I find that higher stock market total value traded sectors are associated with more tax revenue. Using a panel data set of 96 countries over the period 1990-2008 I find that stock markets positively influence government’s ability to raise tax revenue.

Suggested Citation

  • Bojan Ilievski, 2015. "Stock Markets and Tax Revenue," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 5(3), pages 1-1.
    • Handle: RePEc:spt:apfiba:v:5:y:2015:i:3:f:5_3_1
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    Cited by:

    1. Sèna Kimm Gnangnon, 2022. "Financial development and tax revenue in developing countries: investigating the international trade channel," SN Business & Economics, Springer, vol. 2(1), pages 1-26, January.
    2. Aref Emamian, 2021. "Monetary-Fiscal policies and stock market performance: Evidence from linear ARDL framework," GATR Journals jber201, Global Academy of Training and Research (GATR) Enterprise.
    3. Gnangnon, Sèna Kimm, 2019. "Financial Development and Tax Revenue in Developing Countries: Investigating the International Trade and Economic Growth Channels," EconStor Preprints 206628, ZBW - Leibniz Information Centre for Economics.
    4. Sieni Toussaint. OULAI, 2022. "Heterogeneous Effects of Financial Development on Tax Revenues: Accounting for Institutional Quality in Sub-Saharan Africa," Applied Economics and Finance, Redfame publishing, vol. 9(1), pages 54-67, December.

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