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This paper is the first attempt to directly explore the long-run nonlinear relationship between theshadow economy and level of development. Using a dataset of 158 countries over the period from1996 to 2015, our results reveal a robust U-shaped relationship between the shadow economy sizeand GDP...
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shadow economy. New results on the shadow economy for 158 countries all over the world are presented over 1991 to 2015 …
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