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August 18, 2025EkonomikaOpen Access

Monetary and Macroeconomic Determinants of Tax Revenue in Sub-Saharan Africa

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Analysis reveals that inflation negatively affects tax revenue in Sub-Saharan Africa, suggesting urgent policy reforms.

Tax revenue negatively correlates with inflation and foreign direct investment in the long run, but positively in the short term.
Analysis shows a significant relationship between tax revenue and monetary factors like broad money supply and trade openness.
The Vector Error Correction Model was applied to data spanning from 1990 to 2023 from World Bank Development Indicators.
These findings highlight the need for policy shifts to lower inflation and attract foreign investments for improving tax revenue.

Cordelia Onyinyechi Omodero (2025) studied this question.

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