Comparative Analysis on Effect of Tax Revenue on Economic Growth of Developing Countries (Published)
The study examines effect of tax on economic growth of developing countries categorized into three regions namely; Africa, Asia and South America for the period 1990 to 2019 with specific objective to determine effect of tax revenue on gross domestic product of the regions collectively and provided comparative analysis of the three regions. Ex post facto research design was used and data were extracted from the World Bank and Organization of Economic Community and Development (2020) while the variables were analyzed using panel regression analytical technique. The study established clear evidence that each of the regions and collective tax revenue have positive significant effect on their gross domestic product. It further found that the positive effect of tax revenue on gross domestic product of the Asian region is more significant than the African and South American countries while that of the African countries is more than that of the South American countries sampled. The study therefore concludes that tax revenue has significant effect on economic growth of developing countries and recommends that governments of developing countries should intensify efforts to sustain their gross domestic product by reinvigorating their tax system, fiscal institutional structures, and framework to generate more tax revenue and invest in critical infrastructure; ensure more efficient means of tax collection so as to reduce the cost of collection and enhance the total revenue from taxes and seek for international collaboration on taxes to enhance growth.
Keywords: Africa, Asia, South America., Tax Revenue, developing countries, economic growth
Determinants of Foreign Exchange Rate of Selected Developing Countries: A Conceptual Review (Published)
Foreign exchange rate is often seen as an important factor that influences country’s level of productivity, employment rate as well as international trade. Therefore, constant fluctuation in currencies exchange rate has been a major concern in international business operation across countries of the world. This study focused on reviewing the determinants of foreign exchange rate from studies conducted in some developing countries of the world based on literature mapping approach between 1994 to 2020. The study concludes that trade, money supply, trade openness, domestic investment, interest rate differentials, foreign exchange, productivity, inflation, capital inflow, gross domestic production, current account balance, external debt, government spending, oil revenue, nominal exchange rate, price of gold, tariffs, investments, central bank intervention, foreign asset and net export were considered as determinants of foreign exchange rate in some the developing countries of the world.
Citation: Ayuba Nenrot, Lateef Olumide Mustapha and Ibrahim A. Mohammad (2022) Determinants of Foreign Exchange Rate of Selected Developing Countries: A Conceptual Review, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 8, pp.48-55
Keywords: Determinants, Foreign Exchange, developing countries
A Conceptual Review of Tax Compliance Studies of Some Selected Developing Countries (Published)
It is pertinent that sustainable tax compliance is achieved only if the tax policy takes the main determinants of tax compliance into consideration. Meanwhile, tax compliance has been seen as one of the critical tax administration issue particularly amongst the developing countries of the world. In that regards, scholars have contributed immensely in studying the causes or determinants of the phenomenon based on some prevailing factors associated to economic, social and psychological conditions of our society. And the factors are basically linked to some suggested theories. Nevertheless, the study premised on reviewing some related studies conducted amongst the developing countries of the world based on thematic and chronological approach, in order to know the most commonly identified determining factors of tax compliance between the periods of 1998 to 2022. it is imperative to note that the major determining factors extracted from the reviewed literatures are basically ranked from the most commonly identified to the least identified as: taxpayers attitudes and tax fairness perceptions were frequently identified six times each, secondly, tax payers knowledge, perceived behavior and subjective norms were identified four times each, thirdly, sources of income, complexity of tax laws, ethical sensitivity and religiosity knowledge were frequently identified three times, and lastly, perceive tax system and perceived usefulness were frequently identified from the literatures two times each respectively. Therefore, the study concludes that the commonly identified determining factors of tax compliance in the developing countries based on reviewed literature are taxpayer’s attitude and fairness perception. Hence, other empirical studies may need to be conducted to justify the position of this study.
Citation: Idris Mohammed, Lateef Olumide Mustapha, Adamu Lawal Bello (2022) A Conceptual Review of Tax Compliance Studies of Some Selected Developing Countries, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 7, pp.53-62
Keywords: Compliance, Tax, conceptual review, developing countries
Differences of Environmental Disclosure Quality via Different Reporting Media: Case of Oil and Gas Companies in Developing Countries (Published)
This study aims to investigate whether there is any significant difference between different reporting mediums (namely, annual report, stand-alone reports, and corporate homepages) regarding their environmental disclosure quality. Using content analysis, an index and scoring scheme were applied to the annual reports, stand-alone reports and corporate homepages of a sample of 116 oil and gas companies in 19 developing countries. The results of this study indicate great variations in the disclosure quality in different reporting media. The stand-alone reports have greater quality than annual reports and corporate homepages in communicating environmental information. The study has implications in enhancing the understanding of environmental disclosure practices of oil and gas companies in developing countries. The study also provided an insight into the differences between disclosures in different reporting mediums, which in turn will facilitate the selection of reporting medium/s of environmental information that can be relied upon.
Keywords: Oil and gas industry, developing countries, environmental disclosure quality, reporting media
THE ADOPTION OF RISK BASED INTERNAL AUDITING IN DEVELOPING COUNTRIES: THE CASE OF GHANAIAN COMPANIES (Published)
The study investigated the adoption of Risk Based Internal Audit in Ghana, the factors that influence the adoption or non adoption of Risk Based Internal Audit amongst Ghanaian Companies. The involvement of internal auditors in risk assessment was also assessed in the context of Enterprise Risk Management. The study employed Pearson’s chi-square test of independence model at a p-value of 0.05. It was observed that risk based approach to internal auditing is widely used amongst Ghana’s Club 100 companies, especially amongst financial, Telecommunications, and Manufacturing companies. The study again found out that, there is high involvement of IA in risk management which translated to the use of risk based approaches in planning annual audits. Regulation the study observed is not a driver of adoption of RBIA in Ghana. The main factor that motivated the adoption of RBIA was, RBIA helped these organizations to focus on high risks priority areas
Keywords: Enterprise Risk Management, Internal Auditing, Risk Based Approaches, Risk Based Internal Audit, Risk Management, developing countries