Cepoi, Cosmin Octavian; Dumitrescu, Bogdan; Leonida, Ionel - In: Financial studies 27 (2023) 4, pp. 46-59
In this paper, we use panel data containing all EU27 countries from the 2010 to 2022 period to investigate the impact exhibited by the shadow economy on the level of NPLs. Based on a Panel GMM approach we reveal a negative connection, indicating that Countries with larger informal sectors often...