The article aims at estimating the impact of the quality of the legal system and of fiscal evasion on the difficulties of credit access of firms. The motivations of the study are twofold. First, the understanding of the determinants of credit market imperfections is a primary goal for...

We analyze, both theoretically and empirically, the influence of direct democratic institutions on the size and development of shadow economies. Our model suggests that, as the extent of direct democracy increases, implemented fiscal policies more nearly reflect the preferences of citizens and...

In this paper we analyze the influence of direct democratic institutions on the size and development of the shadow economies. The framework developed predicts a negative relationship between the degree of direct democracy and the size of the shadow economy. Countries where direct democratic...