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Financial integration among economies has the benefit of improving allocation efficiency and diversifying risk. However the recent global financial crisis, considered as the worst since the Great Depression has re-ignited the fierce debate about the merits of financial globalization and its...
Persistent link: https://www.econbiz.de/10011410546
Financial integration among economies has the benefit of improving allocation efficiency and diversifying risk. However the recent global financial crisis, considered as the worst since the Great Depression has re-ignited the fierce debate about the merits of financial globalization and its...
Persistent link: https://www.econbiz.de/10013032610
This paper is a first attempt to estimate the size and development of the shadow economy of 158 countries over the period 1991 up to 2015. Using the Multiple Indicators, Multiple Causes (MIMIC) method we apply for the first time (i) the light intensity approach instead of GDP avoiding the...
Persistent link: https://www.econbiz.de/10011697985
Using the MIMIC method, this paper is a first attempt to estimate the size of the shadow economy of 158 countries over the period 1991 up to 2015. In addition to performing a variety of robustness tests, this paper explicitly addresses endogeneity concerns to the use of GDP as cause and...
Persistent link: https://www.econbiz.de/10011646238
investigated for 20 countries over the period 1995–2015. Estimation results indicated that high corruption increased inflation …Up until the 1980s, studies on corruption were dominated by disciplines of public administration and sociology. In the … International Agency, corruption, which has a negative impact on most macroeconomic indicators, is “the abuse of entrusted power for …
Persistent link: https://www.econbiz.de/10011778653
This paper empirically examines the impact of corruption on FDI in European Union countries, including candidate …, we find that corruption has a negative impact on FDI. -- FDI ; Corruption ; Efficient Grease Hypothesis ; OLS …
Persistent link: https://www.econbiz.de/10003834233
Persistent link: https://www.econbiz.de/10001507670
in high income countries, but increases corruption in low income countries. Finally, the various estimation methods are … regulations are the driving forces of the shadow economy. Furthermore, the results show that the shadow economy reduces corruption …
Persistent link: https://www.econbiz.de/10013132156
are derived by combining figures from different estimation methods. We describe and discuss the strengths and weaknesses … of the different estimation methods. We find that the growth of the shadow economy which is now remarkably large in the … extent of state regulatory activities. Rising corruption also has a clearly positive impact on the growth of the shadow …
Persistent link: https://www.econbiz.de/10012782922