This paper examines the drivers, and reestimates the size of shadow economies in Europe, with a focus on the emerging … economies, and recommends policies to increase formality. The size of shadow economies declined across Europe in recent years … but remains significant, especially in Eastern Europe. In the emerging European economies, the key determinants of shadow …

destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire in financial volatility as the … recent decades of the North Atlantic economy, comprising North America and Western Europe, we argue that while trade links …

seems to have an impact mostly on Emerging Europe, reflecting the fact that cross-border lending to most other EM regions is …