We review existing estimates of the size of the Spanish underground economy, apply the Ahumada et al. (2007, RIW) correction procedure to some of them and calculate the size of the underground economy in Spain for the period 1960 through 2009 by using the modified-cash-deposits-ratio (MCDR)...

We further refine the Modified-Cash-Deposits-Ratio (MCDR) approach, developed by Pickhardt and Sardà (2011, 2012) with a view to analyze size and causes of the cash using section of the underground economy. Among other things, we address the issue of cash hoarding. Findings include that the...

Building on new behavioral and institutional theories, using a data set of about 450 variables and augmenting the Sala-i-Martin definition of robustness, we find evidence in support of the hypothesis that the standard causes of the shadow economy (SE), taxes, the administrative burden and labor...

Microfinance is the provision of financial services to the financially excluded, usually the poor. We use literature reviews and descriptive research to present different aspects of the relationship of the microfinancial services to microenterprise. The first thrust in this field had been from...

This paper explores the relationship between knowledge creation, entrepreneur-ship, and economic growth in the United States over the last 150 years. Accor-ding to the "new growth theory," investments in knowledge and human capital ge-nerate economic growth via spillovers of knowledge. But the...

Intrapreneurs, entrepreneurial employees, constitute an important force behind innovations in the economy. Yet, what factors that promote intrapreneurship at the country level are an underdeveloped research area. This paper provides a seminal contribution regarding the methodological approach...

One of the most negative factors that characterize Italian economy and society is the pervasive and oppressive presence of organized crime, affecting many aspects of the daily live and every sector of business. The data unfortunately show how this phenomenon is increasingly growing and involves...

Based on the Ahumada et al. (2007, Review of Income and Wealth) critique we revise existing estimates of the size of the German underground economy. Among other things, it turns out that most of these estimates are untenable and that the tax pressure induced size of the German underground...

The shadow (underground) economy plays a major role in many countries. People evade taxes and regulations by working in the shadow economy or by employing people illegally. On the one hand, this unregulated economic activity can result in reduced tax revenue and public goods and services, lower...

The shadow (underground) economy plays a major role in many countries. People evade taxes and regulations by working in the shadow economy or by employing people illegally. On the one hand, this unregulated economic activity can result in reduced tax revenue and public goods and services, lower...