THE RELATIONSHIP BETWEEN SHADOW ECONOMY AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS BY USING SIMULTANEOUS PANEL EQUATIONS

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SHAHAB MOHAMMADREZA; PAJOUYAN JAMSHID

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Journal: Financial Economics Year:2015 | Volume:9 | Issue:30 Page(s): 1-27

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Title

THE RELATIONSHIP BETWEEN SHADOW ECONOMY AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS BY USING SIMULTANEOUS PANEL EQUATIONS

Author(s)

SHAHAB MOHAMMADREZA | PAJOUYAN JAMSHID | Issue Writer Certificate

Keywords

SHADOW ECONOMYQ2

ECONOMIC GROWTHQ2

SIMULTANEOUS PANEL EQUATIONSQ2

Abstract

SHADOW ECONOMY (SE) is a complex and effective phenomenon which is present all over the world's economies and therefore at least in recent decade, SE is in the spotlight of a remarkable collection of economic scientists and researchers and it's social sciences users. The main objective of this study can be served as an investigation and identification of the interactions of SE with ECONOMIC GROWTH and it’s dependence on the level of ECONOMIC GROWTH and development .In this way, in order to design hypothesis and research's models, according to the theoretical approaches an Inverted-U functional form has been considered which is called as the Kuznets's relation To test our hypothesis, the econometric panel-data approach is employed for the period of 1999 to 2007 in two blocks of 25 countries containing high developed and developing countries (including I.R.IRAN) under various assumptions about simultaneity problem. The results of estimations and Turning-Points calculations indicate that our two hypothesis cannot be rejected and there is a significant Kuznets's U-inverted relation between SE and ECONOMIC GROWTH. Furthermore, the relationship between SE and ECONOMIC GROWTH depends on the level of development. Other findings show that all 25 developing countries including I.R.IRAN, during 1999-2007 are in upward phase of the inverted-U curve and the neoclassical view about complementary relation between SE and ECONOMIC GROWTH cannot be rejected.

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APA: Copy

SHAHAB, MOHAMMADREZA, & PAJOUYAN, JAMSHID. (2015). THE RELATIONSHIP BETWEEN SHADOW ECONOMY AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS BY USING SIMULTANEOUS PANEL EQUATIONS. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 9(30), 1-27. SID. https://sid.ir/paper/229120/en

Vancouver: Copy

SHAHAB MOHAMMADREZA, PAJOUYAN JAMSHID. THE RELATIONSHIP BETWEEN SHADOW ECONOMY AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS BY USING SIMULTANEOUS PANEL EQUATIONS. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2015;9(30):1-27. Available from: https://sid.ir/paper/229120/en

IEEE: Copy

MOHAMMADREZA SHAHAB, and JAMSHID PAJOUYAN, “THE RELATIONSHIP BETWEEN SHADOW ECONOMY AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS BY USING SIMULTANEOUS PANEL EQUATIONS,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 9, no. 30, pp. 1–27, 2015, [Online]. Available: https://sid.ir/paper/229120/en

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