Financial market inclusion, shadow economy and economic growth: New evidence from emerging economies

Hajilee, Massomeh; Stringer, Donna Y.; Metghalchi, Massoud

doi:10.1016/j.qref.2017.07.015

Cited by 52 publications

(33 citation statements)

References 31 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Kostakis [41] examined the underground economy and corruption's impacts on private consumption and conclude that the underground economy and corruption could be substitutes concerning its effect on real consumption growth of individuals. Hajilee et al [42] analyzed the impact of the underground economy on the financial market in the short-and long-run by using the annual data (1980-2013) for 18 merging economies. They argue that the underground economy has significant asymmetric impacts on the financial market in the short-run and no effects in the long-run.…”

Section: The Underground Economy and Its Environmental Impactsmentioning

confidence: 99%

The Underground Economy and Carbon Dioxide (CO2) Emissions in China

Zhou¹

2019

Sustainability

View full text Add to dashboard Cite

China aims to reduce carbon dioxide (CO2) intensity by 40–45% compared to its level in 2005 by 2020. The underground economy accounts for a significant proportion of China’s economy, but is not included in official statistics. Therefore, the nexus of CO2 and the underground economy in China is worthy of exploration. To this end, this paper identifies the extent to which the underground economy affects CO2 emissions through the panel data of 30 provinces in China from 1998 to 2016. Many studies have focused on the quantification of the relationship between CO2 emissions and economic development. However, the insights provided by those studies have generally ignored the underground economy. With full consideration of the scale of the underground economy, this research concludes that similar to previous studies, the inversely N-shaped environmental Kuznets curve (EKC) still holds for the income-CO2 nexus in China. Furthermore, a threshold regression analysis shows that the structural and technological effects are environment-beneficial and drive the EKC downward by their threshold effects. The empirical techniques in this paper can also be applied for similar research on other emerging economies that are confronted with the difficulties of achieving sustainable development.

show abstract

Section: The Underground Economy and Its Environmental Impactsmentioning

confidence: 99%

The Underground Economy and Carbon Dioxide (CO2) Emissions in China

Zhou¹

2019

Sustainability

View full text Add to dashboard Cite

show abstract

“…This is because access to financial resources enables individuals to engage in various kinds of entrepreneurial activities which creates employment opportunities for themselves and others (Fan and Zhang, 2017). By so doing, the financially excluded individuals would be able to overcome poverty through the engagement in enterprise creation which generates a consistent income for themselves and their households (Hajilee et al, 2017;Swamy, 2014).…”

Section: Financial Inclusion and Employment Growthmentioning

confidence: 99%

FNGOs and financial inclusion: Investigating the impact of microcredit on employment growth in Ghana

Atiase

Wang

Mahmood

2019

The International Journal of Entrepreneurship and Innovation

View full text Add to dashboard Cite

Financial non-governmental organizations (FNGOs) are regulated microfinance institutions that operate with a social welfare logic in the delivery of microcredit to the financially excluded in Ghana. The microcredit is aimed at supporting the financially excluded individuals to create sustainable micro and small enterprises (MSEs) for the generation of both skilled and unskilled employment. From the institutional theory perspective, this study aims at investigating the impact of microcredit provided by FNGOs on employment growth among MSEs in Ghana. The major contribution of this study is the fact that, there is a little study on FNGOs and their impact on employment growth in the Ghanaian context. Therefore, this is one of the few studies that highlights the role of FNGOs in promoting financial inclusion through the provision of microcredit for employment generation purposes. Through a multiple regression analysis, the study uses primary data collected from 506 MSEs in Ghana. The results show that microcredit which is flexible in repayment mode, accessible and adequate has a positive impact on employment generation among MSEs in Ghana. However, the current cost of microcredit in Ghana has a negative impact on employment growth among MSEs.

show abstract

“…This theoretical issue is the subject of research, first of all, carried out by institutional economists and scientists who undertake their studies combining law, economic, and social sciences. So, H. Abdel-Latif et al and M. Hajilee et al monitor the dynamics and impact of the shadow economy during financial crises [3,4]. The works of W. Berger and others [5], A.N.…”

Section: Literary Reviewmentioning

confidence: 99%

Legalization of Shadow Economic Activity in Russia

Krasota¹,

Баженов²,

Polivaeva³

2019

Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)

View full text Add to dashboard Cite

The publication examines the current issues of a legal policy in relation to the shadow economy. The authors also estimate certain factors and conditions of shadow economy's determination. The scholars propose legal measures, institutional and economic arrangements to insure the rule of law addressed to business. The researchers observe a model of macroeconomic balance that incorporates the amount of the recovery of corruption proceeds and its effect. The paper makes the case for developing a long-term state strategy for the shadow business sector's shift to the formal economy. Moreover, it justifies the necessity for total monitoring the status and trends of shadow economic dynamism. Keywords-shadow economic activity, legalizing the shadow economy, factors of shadow activity, multiplier of corruption seizures, supervisory authoritiesInternational Scientific Conference "Far East Con" (ISCFEC 2018)

show abstract

Financial market inclusion, shadow economy and economic growth: New evidence from emerging economies

Cited by 52 publications

References 31 publications

The Underground Economy and Carbon Dioxide (CO2) Emissions in China

The Underground Economy and Carbon Dioxide (CO2) Emissions in China

FNGOs and financial inclusion: Investigating the impact of microcredit on employment growth in Ghana

Legalization of Shadow Economic Activity in Russia

Contact Info

Product

Resources

About