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estimating the effects of shadow economy on per capita income: considering and non-considering the problem of endogeneity
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نویسنده
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najafian s ,fotros m. h ,haji gh
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منبع
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مطالعات اقتصادي كاربردي ايران - 2023 - دوره : 11 - شماره : 44 - صفحه:173 -205
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چکیده
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Based on the theoretical literature, there are different and sometimes conflicting approaches about the effects of the shadow economy on per capita income. considering the importance of this issue for economic policy, this study examines the effects of the shadow economy on per capita income for the period of 2005- 2017 using a panel generalized two stage estimator (pg2sls) in two groups of developing and developed countries. based on the results obtained in both groups, the size of the shadow economy has a negative effect on the per capita income. also, the effects of the shadow economy on per capita income in developed countries are much higher than in developing countries, which is somewhat countrary to the theoretical framework. stimating the model with the assumption of endogeneity of the shadow economy, for developing countries these effects have become negative and significant, but for developed countries these effects do not have the necessary significance.
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کلیدواژه
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shadow economy ,per capita income ,developed countries ,developing countries ,panel generalized two-stage least squares
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آدرس
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islamic azad university arak branch, faculty of management, department of economics, iran, bu-ali sina university, school of economic and social sciences, department of economics, iran, islamic azad university arak branch, faculty of management, department of economics, iran
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پست الکترونیکی
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g-haji@iau-arak.ac.ir
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estimating the effects of shadow economy on per capita income: considering and non-considering the problem of endogeneity
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Authors
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Abstract
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based on the theoretical literature, there are different and sometimes conflicting approaches about the effects of the shadow economy on per capita income. considering the importance of this issue for economic policy, this study examines the effects of the shadow economy on per capita income for the period of 2005- 2017 using a panel generalized two stage estimator (pg2sls) in two groups of developing and developed countries. based on the results obtained in both groups, the size of the shadow economy has a negative effect on the per capita income. also, the effects of the shadow economy on per capita income in developed countries are much higher than in developing countries, which is somewhat countrary to the theoretical framework. stimating the model with the assumption of endogeneity of the shadow economy, for developing countries these effects have become negative and significant, but for developed countries these effects do not have the necessary significance.
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Keywords
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shadow economy ,per capita income ,developed countries ,developing countries ,panel generalized two-stage least squares
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