An Exploration of the Greek Shadow Economy: Can Its Transfer into the Official Economy Provide Economic Relief Amid the Crisis?

Bitzenis, Aristidis; Vlachos, Vasileios; Schneider, Friedrich

doi:10.1080/00213624.2016.1147918

Cited by 29 publications

(19 citation statements)

References 83 publications

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“…Shadow economy has received great deals of attention by scholars in the recent years (Bayar & Ozturk, ; Berdiev & Saunoris, ; Bitzenis et al, ; Menon, ). In a simple manner, shadow economy is the informal economy which is neither taxed by the government and most importantly nor monitored by any form of government.…”

Section: Literature Reviewmentioning

confidence: 99%

“…However, the shadow economy is a major obstacle for economic growth especially for developing countries (Akadiri, Gungor, Akadiri, & Bamidele‐Sadiq, ; Gharleghi, Jahanshahi, & Thoene, ; Menon, ). The recent data suggest that the size of the shadow economy varies from 15 to 40% for developed and developing countries, respectively (Bitzenis, Vlachos, & Schneider, ; Schneider, , ). These figures are 15 and 33.6% for the countries considered in this study.…”

Section: Introductionmentioning

confidence: 99%

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The shadow economy and sustainable development: The role of financial development

Gharleghi

Jahanshahi

2020

Journal of Public Affairs

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This paper provides fresh evidence concerning the threshold relationship between the shadow economy and financial development. Shadow economy is quoted as an obstacle to sustainable development and therefore the role of financial development is examined in this paper to tackle the issue of shadow economy. It is based on panel data of 29 developed and developing countries over the period of 1975–2015 and use of panel threshold model. Three proxies for financial development—liquid liabilities, private credit to deposit money banks, and stock market capitalisation—were utilised to obtain the threshold value of US$33,600 Gross Domestic Product (GDP) per capita. This threshold helps to determine the impact of financial development on the size of the shadow economy. Empirical results suggest that above this threshold, financial development significantly contributes to the reduction in size of the shadow economy while it has no impact for countries that have per capita income below this threshold. This implies that, countries with lower per capita income (below $33,600) should implement policies to improve accessibility to finance and credit market which leads to a sufficiently higher per capita income that in turn allows for a reduction in the size of the shadow economy.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The shadow economy and sustainable development: The role of financial development

Gharleghi

Jahanshahi

2020

Journal of Public Affairs

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“…The second deep-rooted cause of government over-indebtedness is related to the shadow economy and tax evasion [43]. Cracking down on tax evasion has been a stated goal of every Greek government and one of the key aims of adjustment policy.…”

Section: Shadow Economy and Tax Evasion In Greece From 2005-2015 (In mentioning

confidence: 99%

Assessment of the Effectiveness of Adjustment Programs at the Core of the Greek Economy

Kotios¹,

Galanos²,

Poufinas³

2018

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Despite the seven-year implementation of three adjustment programs to address the sovereign debt crisis, the Greek economy is still in a prolonged recession and faces problems of competitiveness, political stability and social cohesion. At the same time, the fiscal adjustment policy did not solve the original problem of public debt. On the contrary, as recent evidence shows, the country's ability to service its debt has deteriorated. The causes of the crisis and the failure of the selected economic stabilization policies are a multidimensional and interrelated complex. The Greek economy has supported its growth in recent decades mainly in domestic consumption, with little presence in areas with high added value and extrovert features, focusing mainly on traditional business sectors with limited innovation characteristics. Ιn this study we will try on reasonable arguments but also with a series of statistical

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“…: ). Косвенные методы основаны на сопоставлении экономических показателей, разница между которыми свидетельствует о существовании ненаблюдаемой экономики: доходов и расходов, официальной и реальной занятости, наличного и безналичного денежного обращения, стоимостной динамики производства и физического потребления сырья и электроэнергии, зеркальной статистики стран-партнеров об экспорте и импорте одного и того же товара и т. д. К косвенным методам относятся также многофакторные причинно-следственные (multi-indicators / multi courses, MIMIC) модели теневой экономики, которые в последние годы приобретают все большее распространение в исследованиях и на национальном, и на международном уровне Bitzenis et al, 2016].…”

Section: исследования теневой экономики незаконных поставок природныunclassified

Using mass media to analyze the shadow economy

Belov¹,

Soboleva²

2018

St Petersburg University Journal of Economic Studies

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An Exploration of the Greek Shadow Economy: Can Its Transfer into the Official Economy Provide Economic Relief Amid the Crisis?

Cited by 29 publications

References 83 publications

The shadow economy and sustainable development: The role of financial development

The shadow economy and sustainable development: The role of financial development

Assessment of the Effectiveness of Adjustment Programs at the Core of the Greek Economy

Using mass media to analyze the shadow economy

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