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Which incentives have the strongest impact on the size of the shadow economy? Is it about government's pressure against entrepreneurs operating in this sector, or is it about the benefits of legality? The goal of this paper is to explicitly contrast the role of sticks (court repressiveness) and...
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In the aftermath of sovereign default of August 1998, the hypothesis of virtual economy in Russia developed by Gaddy …
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about Russia's economy. Circulated at the highest levels of the Russian and U.S. governments and reported in leading … publications worldwide, their thesis--that Russia's economy is based on illusion or pretense about nearly every important economic … reform policies in Russia. More important, their work has provided a coherent framework for understanding how and why so much …
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