Impact Of Export Quantity, Oil Production And Tax Revenue On GDP Growth In Russia

Abstract

This research investigates the percentage of exports of GDP, Tax Revenue, Production of electricity from oil sources, and Economic growth with GDP growth as an indicator (in percent) in Russia. This study uses a qualitative method with a vector autoregressive model This research employs a research period from 2000 to 2020. We find that economic growth is accelerating positively concerning to tax revenue and consumption of oil-based energy. But taxes suppress economic growth. That is, when economic growth increases, taxes, and oil consumption also increase. However, when taxes increase, it depresses economic growth. Although tax revenues suppress exports, an increase in exports actually increases tax revenues. The increase in exports also boosted oil consumption. Russia's state finances are indirectly affected by the rise and fall of oil prices as one of the commodities that contribute significantly to Russia's exports, which is indicated by the increase in exports pushing Russia's revenue.