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Panel Co-integration between Economic Growth and Non-tax revenue among Indian States

Alok Pandey () and Annapurna Dixit

Econometrics Letters, 2017, vol. 4, issue 2, 17-33

Abstract: Present study tries to explore the stationarity and co-integration between Non-tax revenue and State Domestic Product of twenty major states of Indian federal system under panel data structure. LLC (2002) and IPS (2003) tests of stationarity have been used to detect unit root in the panel series. Kao (1999) test of panel co-integration shows that the SDP and NTR and NTR and SDP for the twenty states for the period under study are co-integrated. The results of the study suggest that state domestic product of the states are causing the non-tax revenue of the states and the non-tax revenue of the states are also causing state domestic product of the states for Indian federal system.

Keywords: State Domestic Production; Non-tax Revenue; Panel Unit Root; Panel Co-integration. (search for similar items in EconPapers)
JEL-codes: H2 C23 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:bmo:bmoart:v:4:y:2017:i:2:p:17-33