1,280
Views
19
CrossRef citations to date
0
Altmetric
Articles

The Economic Growth–Inflation–Shadow Economy Trilogy: Developed Versus Developing Countries

&
Pages 679-695 | Received 26 Dec 2018, Accepted 05 Jun 2019, Published online: 17 Jul 2019

References

  • Acemoglu, D., Johnson, S., Robinson, J., & Thaicharoen, Y. (2003). Institutional causes, macroeconomic symptoms: Volatility, crises and growth. Journal of Monetary Economics, 50(1), 49–123. doi: 10.1016/S0304-3932(02)00208-8
  • Aisen, A., & Veiga, F. J. (2008a). Political instability and inflation volatility. Public Choice, 135(3–4), 207–223. doi: 10.1007/s11127-007-9254-x
  • Aisen, A., & Veiga, F. J. (2008b). The political economy of seigniorage. Journal of Development Economics, 87(1), 29–50. doi: 10.1016/j.jdeveco.2007.12.006
  • Arellano, & Bond. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The review of economic studies, 58(2), 277-297.
  • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297. doi: 10.2307/2297968
  • Bailey, M. J. (1956). The welfare cost of inflationary finance. Journal of Political Economy, 64(2), 93–110. doi: 10.1086/257766
  • Baklouti, & Boujelbene. (2018). A simultaneous equation model of economic growth and shadow economy: Is there a difference between the developed and developing countries?. Economic Change and Restructuring, 1-20.
  • Bhattacharyya. (1999). On the economic rationale of estimating the hidden economy. The Economic Journal.
  • Blackburn, K., Bose, N., & Capasso, S. (2012). Tax evasion, the underground economy and financial development. Journal of Economic Behavior & Organization, 83(2), 243–253. doi: 10.1016/j.jebo.2012.05.019
  • Blackburn, K., & Powell, J. (2011). Corruption, inflation and growth. Economics Letters, 113(3), 225–227. doi: 10.1016/j.econlet.2011.06.015
  • Bovi, M., & Dell’Anno, R. (2010). The changing nature of the OECD shadow economy. Journal of Evolutionary Economics, 20(1), 19. doi: 10.1007/s00191-009-0138-8
  • Canzoneri, & Rogers. (1991).  Is the European Community an optimal currency area? Tax smoothing versus the costs of multiple currencies. American Economic Review, 80(3), 419-433.
  • Canzoneri, M. B., & Rogers, C. A. (1991). Is the European Community an optimal currency area? Optimal taxation versus the cost of multiple currencies. The American Economic Review, 419–433.
  • Capasso, S., & Jappelli, T. (2013). Financial development and the underground economy. Journal of Development Economics, 101, 167–178. doi: 10.1016/j.jdeveco.2012.10.005
  • Cavalcanti, T. V. D. V., & Villamil, A. P. (2003). Optimal inflation tax and structural reform. Macroeconomic Dynamics, 7(3), 333–362. doi: 10.1017/S1365100502020096
  • Cooray, A., Dzhumashev, R., & Schneider, F. (2017). How does corruption affect public debt? An empirical analysis. World Development, 90, 115–127. doi: 10.1016/j.worlddev.2016.08.020
  • Desmet, P., Van Spanje, J., & de Vreese, C. (2012). ‘Second-order’ institutions: National institutional quality as a yardstick for EU evaluation. Journal of European Public Policy, 19(7), 1071–1088. doi: 10.1080/13501763.2011.650983
  • Eggoh, J. C., & Khan, M. (2014). On the nonlinear relationship between inflation and economic growth. Research in Economics, 68(2), 133–143. doi: 10.1016/j.rie.2014.01.001
  • Erbaykal, & Okuyan. (2008). Does inflation depress economic growth? Evidence from Turkey. International Journal of Finance End Economics.
  • Ergene, S. (2015). Growth, inflation, interest rate and informality: Panel VAR evidence from OECD economies. Economics Bulletin, 35(1), 750–763.
  • Feige. (1990). Defining and estimating underground and informal economies: The new institutional economics approach. . World development.
  • Friedman, M. (1977). Nobel lecture: Inflation and unemployment. Journal of Political Economy, 85(3), 451–472. doi: 10.1086/260579
  • Friedman, E., Johnson, S., Kaufmann, D., & Zoido-Lobaton, P. (2000). Dodging the grabbing hand: The determinants of unofficial activity in 69 countries. Journal of Public Economics, 76(3), 459–493. doi: 10.1016/S0047-2727(99)00093-6
  • Gillman, & Kejak. (2004). Inflation and balanced‐path growth with alternative payment mechanisms. The Economic Journal, 115(500), 247-270.
  • Goel, R. K., & Nelson, M. A. (2016). Shining a light on the shadows: Identifying robust determinants of the shadow economy. Economic Modelling, 58, 351–364. doi: 10.1016/j.econmod.2016.06.009
  • Goel, R. K., Saunoris, J. W., & Schneider, F. (2019). Growth in the shadows: Effect of the shadow economy on US economic growth over more than a century. Contemporary Economic Policy, 37(1), 50–67. doi: 10.1111/coep.12288
  • Grimes, A. (1991). The effects of inflation on growth: Some international evidence. Weltwirtschaftliches Archiv, 127(4), 631–644. doi: 10.1007/BF02707413
  • Johnson, S., Kaufmann, D., & Zoido-Lobaton, P. (1998). Regulatory discretion and the unofficial economy. The American Economic Review, 88(2), 387–392.
  • Koreshkova, T. A. (2006). A quantitative analysis of inflation as a tax on the underground economy. Journal of Monetary Economics, 53(4), 773–796. doi: 10.1016/j.jmoneco.2005.02.009
  • Loayza, N. A. (1997). The economics of the informal sector: A simple model and some empirical evidence from Latin America. World Bank Publications, Washington, DC.
  • Lucas. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42.
  • Mazhar, & Méon. (2017). Taxing the unobservable: The impact of the shadow economy on inflation and taxation. World development.
  • Medina, L., & Schneider, F. (2018). Shadow economies around the world: what did we learn over the last 20years?. International Monetary Fund, Washington, DC.
  • Mosikari, T. J., & Eita, J. H. (2018). Estimating threshold level of inflation in Swaziland: Inflation and growth. MPRA Paper No. 88728, posted 10 September 2018 17:04 UTC.
  • Mudell. (1963). Capital mobility and stabilization policy under fixed and flexible exchange rates. Canadian Journal of Economics and Political.
  • Nabi, M. S., & Drine, I. (2009). External debt, informal economy and growth. Economics Bulletin, 29(3), 1695–1707.
  • Phelps, E. S. (1973). Inflation in the theory of public finance. The Swedish Journal of Economics (1973): 67-82., 67–82. doi: 10.2307/3439275
  • Porta, R. L., & Shleifer, A. (2008). The unofficial economy and economic development (no. w14520). Brookings Papers on Economic Activity Vol. 2008, pp. 275–352.
  • Roubini, N., & Sala-i-Martin, X. (1995). A growth model of inflation, tax evasion, and financial repression. Journal of Monetary Economics, 35(2), 275–301. doi: 10.1016/0304-3932(95)01192-Q
  • Sargent, T. J., & Wallace, N. (1981). Some unpleasant monetarist arithmetic. Federal Reserve Bank of Minneapolis Quarterly Review, 5(3), 1–17.
  • Saunoris, J. W. (2018). Is the shadow economy a bane or boon for economic growth? Review of Development Economics, 22(1), 115–132. doi: 10.1111/rode.12332
  • schneider. (2011). Handbook on the Shadow Economy. In F. Schneider (Ed.), Handbook on the shadow economy. Edward Elgar. ISBN: 978 1 84844 335 8.
  • Schneider, F., & Enste, D. H. (2000). Shadow economies: Size, causes, and consequences. Journal of Economic Literature, 38(1), 77–114. doi: 10.1257/jel.38.1.77
  • Smith. (1997). Assessing the size of the underground economy: The statistics Canada perspective. The underground economy: Global evidence of its size and impact.
  • Stockman. (1981). Anticipated inflation and the capital stock in a cash in-advance economy. journal of Monetary Economics, 8(3), 387-393.
  • Tanzi, V. (2002). The shadow economy, its causes and its consequences. Brazilian Institute of Ethics, 12 March 2002, Rio de Janeiro. Edited Lecture.
  • Tobin. (1965). On improving the economic status of the Negro. Daedalus.
  • Umaru, A., & Zubairu, A. A. (2012). Effect of inflation on the growth and development of the Nigerian economy (An empirical analysis). International Journal of Business and Social Science,3(10). [Special Issue – May 2012]., 3(10).
  • Williams, C. C., & Schneider, F. (2016). Measuring the global shadow economy: The prevalence of informal work and labour, ISBN: 978 1 78471 798 8. Edward Elgar.
  • World governance indicators project. World Bank.
  • Wu, D. F., & Schneider, F. (2019). Nonlinearity between the shadow economy and level of development (no. 19/48). International Monetary Fund, Working Paper No. 19/48..
  • Yereli, A. B., Seçilmiş, İ.E., & Başaran, A. (2007). Shadow economy and public debt sustainability in Turkey. Ekonomski Anali/Economic Annals. DOI:10.2298/EKA0773085B, 52(173).
  • Zellner, A. (1962). An efficient method of estimating seemingly unrelated regressions and tests for aggregation bias. Journal of the American Statistical Association, 57(298), 348–368. doi: 10.1080/01621459.1962.10480664

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.