Table 5. Estimation results of TTR/DTR/ITR-to-GDP.
| Dependent Variable: Total Tax revenue | GDP | (GDP)2 | (GDP)3 | Debt | CPI | AR(1) | AR(2) | TSLS-(J-statistic) | DW |
|---|---|---|---|---|---|---|---|---|---|
| Model 1 | 0.3702 (1.6259) | -3.08E-8 (-1.7052) | 9.59E-16* (1.9862) | 0.0490 (0.2212) | 1127552 (0.6206) | 0.0033 | 0.0943 | 0.0000 | 2.0858 |
| Model 2 | 0.0610 (0.5958) | -1.52E-09 (-0.1726) | 9.13E-17 (0.3869) | -2.68E-16 (-0.1386) | 8.91E-11 (0.1601) | 0.0007 | 0.4486 | 0.0000 | 1.7011 |
| Model 3 | 0.3148** (2.5392) | -2.56E-8** (-2.6105) | 7.22E-16** (2.7444) | 0.1104 (0.9142) | 32265 (0.0326) | 0.0424 | 0.0107 | 7.66E-43 | 2.2459 |
1. In brackets is the t-statistic of the estimated parameter.
2. the GDP in 2020 is 19766240 measured in 100 million TWD.
3. The table is based on the historical data of the National Bureau of statistics of Taiwan.
4. Robust standard errors in parentheses.
p* < 0.10, p** < 0.05, p*** < 0.01.