In this paper, we investigate on the determinants of the size of shadow economy (SE) in Latin America. While the analysis of economic causes of SE has been extensively studied in literature, here we offer a wider prospective. In addition to overall economic development, unemployment rate, and...

This paper analyzes the relationship between unofficial economy (UE) and official GDP. Through the study of the UE within an institutional comprehensive empirical framework, a positive correlation is found between unofficial and official GDP. Empirical evidence on the procyclicality of UE...