Nikopour, Hesam; Shah Habibullah, Muzafar; Schneider, … - Volkswirtschaftliche Fakultät, … - 2009
The present paper investigates the link between the shadow economy and FDI using the Granger panel causality test. For … that purpose we use the shadow economy and FDI data for 145 countries of five data points 1999/2000, 2001/2002, 2002 …/2003, 2003/2004 and 2004/2005. The system GMM estimation results show that FDI causes the shadow economy and vice versa. The …